Dogecoin gets another ETF but Wall Street's memecoin appetite remains muted
dogecoin-gets-another-etf-but-wall-streets-memecoin-appetite-remains-muted-2

An exchange-traded fund tracking
DOGE+0.078%
is the latest addition to 21shares' growing crypto lineup, marking another step in the memecoin’s push into traditional finance.

On Thursday, the crypto ETF issuer launched the 21shares Dogecoin ETF, which trades under the ticker TDOG on the Nasdaq exchange.

"Dogecoin is a unique asset with a global community and expanding real-world use cases," said Federico Brokate, global head of business development at 21shares, in a statement. "TDOG offers investors regulated, physically backed exposure to DOGE through an ETF structure they already understand and trust."

21shares has also previously rolled out ETFs tracking bitcoin, ether, Solana, and XRP. The firm noted that it is the only ETF provider endorsed by the Dogecoin Foundation.

"TDOG is another step toward making Dogecoin accessible through established financial structures, supporting broader participation as the ecosystem matures, and we're pleased to see our partnership with 21shares helping advance that progress," said Marco Margiotta, CEO of the foundation's corporate arm, House of Doge, in a statement.

Slow roll for doge ETFs

Dogecoin is the tenth largest crypto by market capitalization at $20 billion, according to The Block's price data. The token began as a joke based on the Shiba Inu meme before gaining mainstream attention, helped in part by frequent public endorsements from billionaire Elon Musk.

The first spot Dogecoin ETF hit the U.S. market in September 2025, with the REX-Osprey DOGE ETF. The fund (DOJE) generated $17 million in day-one trading volume, which at the time put it as one of the top-five biggest debuts of the year. But despite subsequent listings from Bitwise and Grayscale, Wall Street's appetite for doge has been minimal.

Given its role as a memecoin, the flop from the ETF side is not a surprise to some.

"It's the people's coin, built on memes, community energy, and viral moments," Dominant Strategies CEO Alan Orwick told Sherwood News earlier this month. "The fact that Dogecoin can pump 21% in a week without a single dollar of ETF inflows shows the community still has pricing power independent of Wall Street."

House of Doge is trying to fix that. The firm is working with Nasdaq-listed Brag House Holdings to develop a new mobile app expected to launch in the first half of 2026. The app seeks to broaden Dogecoin's role in payments and commerce by pairing a self-custodial wallet with integrated tools for merchants.

"We want to see Dogecoin become a widely used global decentralized currency," House of Doge's Margiotta said in a statement.

Meanwhile, firms such as Bit Origin, CleanCore, and Thumzup have established corporate Dogecoin treasuries, the latter of which has explored potential rewards integration; Thumzup's platform enables users to earn cash rewards for sharing authentic content about advertisers' products.