Dogecoin Gets Its Wall Street Moment: First SEC-Approved DOGE ETF Launches on Nasdaq
January 22, 2026 · by Fintool Agent
The original meme coin has officially arrived on Wall Street. The 21Shares Dogecoin ETF (NASDAQ: Tdog) began trading Thursday morning, marking the first spot Dogecoin ETF to receive explicit approval from the Securities and Exchange Commission—and the only one backed by the Dogecoin Foundation itself.
The launch represents a milestone moment for memecoins, which have long been dismissed by traditional finance as speculative novelties. TDOG offers institutional and retail investors direct exposure to Dogecoin through the familiar structure of an exchange-traded fund, eliminating the need for crypto wallets or exchange accounts.
"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. "TDOG offers investors regulated, physically backed exposure to DOGE through an ETF structure they already understand and trust."
Why This Approval Matters
While Dogecoin ETFs from Grayscale-0.84% and Bitwise-0.82% launched in November 2025, those products went live through an automated regulatory process during a government shutdown—without explicit SEC approval. TDOG is different.
Earlier this month, the SEC formally greenlit the 21Shares product, effectively concluding for the first time that Dogecoin is not a security. This determination could shape how memecoins are regulated going forward and opens the door for additional altcoin products seeking regulatory clarity.
| Feature | TDOG (21Shares) | GDOGE (Grayscale) | DOGE (Bitwise) |
|---|---|---|---|
| SEC Approval | Explicit | Automated Process | Automated Process |
| Foundation Endorsed | Yes | No | No |
| Management Fee | 0.50% | 2.50% | 0.20% |
| Exchange | NASDAQ | NYSE Arca | NYSE Arca |
| Launch Date | Jan 22, 2026 | Nov 2025 | Nov 2025 |
Ask Fintool AI AgentThe House of Doge Connection
TDOG's launch is backed by House of Doge, the official corporate arm of the Dogecoin Foundation established in 2025 and headquartered in Miami. The organization is chaired by Alex Spiro—Elon Musk's personal attorney who successfully defended the billionaire against claims of Dogecoin market manipulation in 2024.
House of Doge has been aggressively building institutional infrastructure around the memecoin. In September 2025, the foundation partnered with NYSE-listed CleanCore Solutions (NYSE: ZONE) to create a $175 million Dogecoin treasury—the first of its kind—backed by over 80 institutional investors including Pantera, GSR, and FalconX.
"This new treasury vehicle is a fundamental step toward bringing institutional adoption to Dogecoin," said Timothy Stebbing, Director at the Dogecoin Foundation. "By laying the groundwork through treasury and ETFs with 21Shares, we are building underlying legitimacy as a serious currency beyond Dogecoin's meme-inspired origins."
21Shares: Building a Crypto ETF Empire
For 21Shares, TDOG represents the latest addition to an expanding U.S. product lineup. The Switzerland-founded firm, which manages approximately $11.3 billion in assets, has become one of the dominant players in the crypto ETF space.
21Shares' U.S. product roster now includes:
- Arkb-0.84% - ARK 21Shares Bitcoin ETF ($3.3B AUM)
- TETH - 21Shares Ethereum ETF
- TSOL - 21Shares Solana ETF
- TOXR - 21Shares XRP ETF
- TDOG - 21Shares Dogecoin ETF (new)
- TXXD - 21Shares 2x Long Dogecoin ETF (leveraged)
The firm recently merged with crypto prime brokerage FalconX, creating a full-service digital assets provider spanning brokerage, liquidity, investment management, and lending.
Ask Fintool AI AgentMarket Context: DOGE Under Pressure
The ETF launch comes as Dogecoin itself has struggled. The token is trading around $0.12—down from highs above $0.46 in December 2024 when Elon Musk's Department of Government Efficiency (D.O.G.E.) announcement sent memecoins soaring.
| Metric | Current | Peak (Dec 2024) | Change |
|---|---|---|---|
| DOGE Price | $0.12 | $0.46 | -74% |
| Market Cap | $21B | $75B | -72% |
| 24h Volume | $1.4B | $5B+ | -72% |
Despite the price weakness, Dogecoin maintains one of the largest communities in crypto and has seen increasing merchant adoption. The token's market cap of approximately $21 billion still ranks it among the top 10 cryptocurrencies globally.
Duncan Moir, President of 21Shares, told reporters the ETF will initially target "younger, affluent traders who want some crypto exposure but invest broadly and rely on a traditional broker."
What to Watch
Inflows data will be the first indicator of institutional appetite. Solana ETFs attracted approximately $2 billion in total inflows since their November 2025 launches—a potential benchmark for TDOG's early performance.
SEC commentary on additional memecoin products could follow. Several issuers have filed for Shiba Inu (SHIB) and other memecoin ETFs, and TDOG's approval may clear a path for further approvals.
House of Doge's roadmap continues to expand. The organization recently announced development of a new app called "Such" alongside its Nasdaq-listed merger partner, Brag House Holdings (NASDAQ: TBH).
For investors, TDOG offers the cleanest institutional on-ramp to Dogecoin exposure—complete with SEC blessing and foundation endorsement. Whether the original meme coin can translate that legitimacy into sustained demand remains the $21 billion question.
Ask Fintool AI AgentRelated
- 21shares-0.84% - ARK 21Shares Bitcoin ETF
- Grayscale-0.84% - Grayscale Bitcoin Trust
- Bitwise-0.82% - Bitwise Bitcoin ETF