Asset Manager 21Shares Launches First Official Dogecoin ETP in Switzerland

Dogecoin has received a significant institutional endorsement as 21Shares, a leading issuer of crypto exchange-traded products (ETPs), revealed plans to launch a fully-backed Dogecoin ETP. The product will debut on Switzerland’s SIX Swiss Exchange under the ticker DOGE.

Much wow. Now live! 🐕 In partnership with @houseofdoge, we’re excited to introduce the only Dogecoin ETP endorsed by @dogecoinfdn, now available through your bank or brokerage.

Here’s to the meme that made it. 🍻

Many details: https://t.co/f143znekt1

Disclaimer: This document… pic.twitter.com/Mqewu1HeNB

— 21Shares (@21Shares) April 9, 2025

Notably, the Dogecoin Foundation is backing the ETP, marking the first time the Foundation has officially endorsed a Dogecoin ETP. The initiative was developed in collaboration with the House of Doge, the Foundation’s corporate arm.

Dogecoin ETP Offers Institutional Access

A crypto ETP is a regulated product that mirrors the price of a specific digital asset and can be traded on traditional exchanges, much like stocks. Interestingly, the Dogecoin ETP aims to provide institutional investors with a regulated route to access DOGE.

Duncan Moir, President of 21Shares, emphasized that the ETP offers the most straightforward and accessible method for investors to tap into the Dogecoin ecosystem. Additionally, the product is fully backed by actual DOGE holdings and will charge a management fee of 2.5%.

Meanwhile, the launch aligns with the Dogecoin Foundation’s broader vision for the cryptocurrency. Jens Wiechers, co-executive director of the Dogecoin Foundation, said the move creates a regulated pathway for institutions to support the “Dogecoin is Money” vision, giving the asset the credibility needed to thrive at scale.

Growing Institutional Interest

Following the broader market downturn, the memecoin has seen a 14.6% pullback over the past month. Despite this, DOGE remains among the top ten most liquid digital assets, according to CoinGecko data.

Created as an internet meme in 2013, DOGE has evolved into a widely used digital currency for micropayments, tipping, and everyday transactions. Its increasing adoption has made it an appealing asset for institutional investors.

Reflecting the institutional interest, Bitwise, a digital asset manager, has created a legal entity called “BITWISE DOGECOIN ETF.” This move has sparked speculation that the company may soon file with the U.S. SEC to launch a DOGE ETF.

In addition, Grayscale has launched the Grayscale Dogecoin Trust, a fund designed to track the memecoin’s performance. The initiative further underscores the rising institutional interest in DOGE, allowing investors to gain exposure to the asset without directly holding it.