The Nasdaq exchange has submitted a Form 19b-4 application to the U.S. Securities and Exchange Commission (SEC) for the launch of a spot Dogecoin ETF by 21Shares. This is an addition to a previously submitted Form S-1 application, which is necessary for launching the financial product. To begin trading, the new fund must receive approval for both forms from the SEC.
This is reported by Business • Media
Application Submission and Launch Details
The application from Nasdaq occurred as part of a collaboration with the House of Doge organization, which supports the initiative to launch exchange-traded products based on Dogecoin. Earlier in April 2025, 21Shares announced plans to create a spot Dogecoin ETF and submitted the corresponding Form S-1 application. Initially, the product was set to launch in Europe on the SIX Swiss Exchange, but the company later submitted an application to the SEC, indicating its intention to enter the U.S. market.
Product Features and Support
According to the submitted application, the fund will invest directly in Dogecoin (DOGE), making it a spot ETF. Coinbase Custody will serve as the custodian, while House of Doge will provide support and promotion for the product. Meanwhile, the market is reacting cautiously: the price of Dogecoin has decreased by more than 5% over the week and is currently trading at a level that indicates uncertainty surrounding the launch.
“For the registration and commencement of trading of the new fund, it is necessary for the SEC to approve both forms — S-1 and 19b-4,” the application states.
In addition to 21Shares, Grayscale Investments and Bitwise have also submitted applications for the launch of a spot Dogecoin ETF. They are awaiting the SEC’s review in March 2025, but a decision regarding their case has not yet been made.