Wall Street’s Latest Bet: 21Shares Aims to Launch First Spot Dogecoin ETF—Because Meme Stocks Weren’t Volatile Enough

Nasdaq could soon host the crypto world’s most unlikely institutional product—if regulators don’t laugh it out of the room first.

21Shares just filed paperwork for a spot Dogecoin ETF, betting that the Shiba Inu-themed joke currency deserves the same treatment as Bitcoin. Because nothing says ’serious investment vehicle’ like an asset that rallied 12,000% because Elon Musk tweeted a meme.

The move comes as traditional finance scrambles to cash in on crypto’s retail frenzy. Never mind that DOGE lacks Bitcoin’s scarcity or Ethereum’s utility—when has that ever stopped Wall Street from packaging something into a fee-generating product?

If approved, the ETF would let investors gamble on DOGE’s price swings without the hassle of actual wallets. Because what crypto really needs is more middlemen taking a cut.

21Shares has submitted a proposal to list a spot Dogecoin (DOGE) ETF on Nasdaq, aiming to provide traditional investors with direct exposure to the popular cryptocurrency. If approved, this would be the first spot DOGE ETF in the U.S., signaling a broader acceptance of altcoins in mainstream finance. The move reflects increasing demand for diversified crypto investment products and could pave the way for more altcoin ETFs in the future, following the success of Bitcoin and Ethereum-based offerings.