Dogecoin ETF: 21Shares Confirms Fees and Custodians in Latest Filing

TLDR

• 21Shares amended its Dogecoin ETF filing with the U.S. SEC to confirm fees and provide additional details about the fund.
• The Dogecoin ETF will charge a 0.50% management fee, payable in Dogecoin weekly.
• The ETF will list under the ticker “TDOG” on Nasdaq and track the CF Dogecoin-Dollar US Settlement Price Index.
• The Bank of New York Mellon will serve as the administrator, while Anchorage Digital Bank and BitGo will be custodians.
• 21Shares has allocated $1.5 million to purchase DOGE prior to the ETF’s listing on the exchange.

21Shares has amended its application with the U.S. Securities and Exchange Commission (SEC) for its Dogecoin ETF. The amendment confirms details about management fees and provides further clarification on key aspects of the fund. The spot Dogecoin ETF is expected to join similar funds from Grayscale and Bitwise this month, which could drive further interest in DOGE.

21Shares Confirms Management Fee for Dogecoin ETF

The amended filing reveals that the Dogecoin ETF will charge a 0.50% management fee. This fee will accrue daily and be payable in Dogecoin on a weekly basis. 21Shares has yet to disclose whether any fee waivers will apply and is expected to make that announcement before the ETF’s official launch.

The issuer has also retained an amendment related to delays in the filing. The amendment includes an 8(a) submission, which will make the fund effective once the necessary conditions are met. The filing notes that there will be no further amendments unless required by the SEC.

Custodians and Administration Details Revealed

In the filing, 21Shares has named several institutions involved in managing the Dogecoin ETF. The Bank BNY will serve as the fund’s administrator, cash custodian, and transfer agent. Other custodians include Anchorage Digital Bank and BitGo, ensuring secure handling of the trust’s assets.

The ETF will trade under the ticker symbol “TDOG” on Nasdaq, and it will track the performance of Dogecoin through the CF Dogecoin-Dollar US Settlement Price Index. The trust will initially use $1.5 million to purchase DOGE at or before the ETF’s listing.

Increased Market Activity Around Dogecoin ETF Launch

As anticipation builds for the Dogecoin ETF, DOGE prices have experienced an uptick. The cryptocurrency rebounded over 11% to reach $0.15 in the last 24 hours. At the same time, trading volume increased by 32%, showing heightened interest from traders.

The 4-hour futures open interest in Dogecoin also rose. On exchanges like Binance, OKX, and Bybit, open interest climbed by more than 1%. This increase in activity signals bullish sentiment from derivatives traders.

The Dogecoin ETF is set to attract more attention as it nears its launch. With confirmation of key details like fees and custodians, the ETF is positioning itself for a successful entry into the market.

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