21Shares to Launch a Spot Dogecoin ETF. How Will It Impact DOGE Price?

21Shares is one step closer to launching a spot Dogecoin ETF in the United States, as it published an amended S-1 registration filing this week with the U.S. Securities and Exchange Commission (SEC). The new document provides more insight into fees and other operations for the upcoming fund. The ETF will be listed on Nasdaq with the ticker TDOG when the final approval from the SEC comes in.

In the amendment filing on December 2, 21Shares has for the first time revealed the fees for the upcoming ETF. The spot Dogecoin ETF will be a straightforward product that only holds Dogecoin and tracks the price of the cryptocurrency versus the U.S. dollar. The fund won’t be leveraged or actively traded, representing a simple means for investors to directly gain exposure to the asset in a regulated manner.

Fee Structure and Additional Operational Updates in the Filing

In addition to the previous update, the recent amendment further describes the operating procedures for the spot Dogecoin ETF. Namely, the filing solidifies a management fee of 0.50%, assessed daily and paid out weekly in DOGE, with fee waivers expected to be revealed prior to launch. 21Shares additionally disclosed some of the main service providers involved with the ETF:

• The Bank of New York Mellon: administration, cash custodian, and transfer agency services

• Anchorage Digital Bank and BitGo: additional custodians 
• Wilmington Trust NA: trustee 
• Foreside Global Services: marketing 
• Cohen & Company: accounting and audit 

As it is listed, this fee would cover nearly all expenses for the fund, including custody, administration, marketing, trustee, and routine legal and audit services. If any expenses come up that require higher capital outlays, such as taxes or legal expenses, then the trust will need to liquidate Dogecoin to pay for those costs.

In addition to the sponsor fee, there will also be transaction fees for the authorized participants managing creations and redemptions, though the sponsor can change those fees with notice. 0.50% would put TDOG ETF right in the middle in terms of fees of other spot cryptocurrency ETFs, making this a low-cost way for investors to get exposure to Dogecoin.

Impact of ETF Developments on Dogecoin Price

The filing comes at an active time for Dogecoin-based exchange-traded products, or ETFs. 21Shares launched its leveraged 2x Dogecoin ETF on Nasdaq on Nov. 20. The product aims to appeal to traders looking for higher exposure to the daily price movement of Dogecoin. Days later, Grayscale launched a conversion of its Dogecoin trust into a spot ETF that is more competitively priced. Increased market interest has already been driving the Dogecoin price higher in recent weeks, with gains in late November and early December.

At press time, Dogecoin is trading at approximately $0.1499, with a 24-hour trading volume around $1.78 billion, one of its largest in recent weeks. Dogecoin analysts also note that this may not just be a one-time pump, with trading volumes surging and ETF rumors suggesting institutional and retail accumulation, both factors potentially indicating increased demand.

Chart 1: DOGEUSDT Price Analysis, Published on TradingView, December 3rd, 2025.

On the other hand, on-chain analysts are more bearish on the technicals, with recent analysis noting DOGE is currently trading just below the $0.14–$0.15 range, below the 50-day and 200-day moving averages, indicating that the bullish sentiment is not strong enough and could fail if the crypto market sentiment doesn’t improve.

Future Outlook for the 21Shares Dogecoin ETF

The fee structure of the TDOG Spot Dogecoin ETF has been published. The next step will be for the product to debut on Nasdaq after it secures approval from the SEC, which is still reviewing the ETF. Market participants are awaiting final approval of the product, which is aimed at providing investors with a regulated way to gain exposure to Dogecoin through an ETF.

Final Thoughts on the Spot Dogecoin ETF

21Shares makes a new filing for its spot Dogecoin ETF. As per the new filing, investors who are keen to get regulated exposure to Dogecoin will be able to do so through the TDOG ETF. The company expects the product to gather substantial interest from the market as it has kept the fee structure and direct structure quite competitive. The TDOG ETF is waiting for approval from the SEC to commence operations.

Dogecoin’s short-term prospects are also likely tied to the overall crypto market and the approval process of its new ETF. Institutional demand and Bitcoin’s rebound have increased speculative interest, but the altcoin has more ground to cover to establish a longer-term uptrend.

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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and risky. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.