21Shares submitted a fresh amendment to its spot Dogecoin ETF application with the U.S. Securities and Exchange Commission, adding details on management fees, service providers, and the operational structure of the fund. This was the fifth amendment to the company’s S-1 and it arrives as DOGE records one of its strongest intraday gains this month on Dec.2.
21Shares Confirms Fee Structure and Custodians
According to the updated SEC filing, 21Shares set the management fee for the Dogecoin ETF at 0.50% per year. The fee will accrue daily and will be paid weekly in Dogecoin. The issuer has not included any fee waiver in the latest document, and industry observers expect any such announcement to come closer to the ETF’s launch date.
The amended filing names The Bank of New York Mellon as the administrator, cash custodian, and transfer agent. Anchorage Digital Bank and BitGo will act as additional custodians responsible for safeguarding the ETF’s DOGE holdings. Wilmington Trust NA will serve as trustee, while Foreside Global Services will handle marketing. Cohen & Company will manage accounting.
The ETF is scheduled to list on Nasdaq under the ticker TDOG, and it will track Dogecoin using the CF Dogecoin-Dollar US Settlement Price Index, the same benchmark used by existing institutional DOGE products. The filing continues to carry a delaying amendment, meaning final effectiveness will require an additional SEC step through an 8(a) submission.
21Shares first filed for a spot Dogecoin ETF on April 9, 2025. That initial filing outlined the plan to hold DOGE directly without leverage or derivatives and to track the CF index as its benchmark. At the time, the issuer named Coinbase Custody as custodian and did not provide fee information.
Subsequent amendments confirmed that 21Shares US LLC would act as the seed capital investor. The company intends to use $1.5 million to acquire Dogecoin before or at the time the ETF begins trading, giving the product a fully funded structure on day one.
DOGE Price Rises More Than 9% After Filing Update
Dogecoin price rallied sharply following the amendment. DOGE traded near $0.1506 at the time of writing, gaining more than 9% in the past 24 hours.
Alongside the price rebound, inflow data from the two active U.S. Dogecoin ETFs shows fresh activity. Grayscale’s GDOG ETF recorded a single-day net inflow of $513,43K on Dec. 2, lifting its cumulative inflows to $2.68 million. Bitwise’s BWOW ETF remains smaller, holding $2.39 million in net assets with no recorded inflows yet.
While this gives DOGE more than $6.5 million combined in spot ETF assets, the category still sits far below other altcoin ETFs such as Solana and the newly launched XRP ETFs, both of which have attracted more than $600 million in cumulative total net inflow so far.
Trading activity also increased meaningfully. DOGE’s 24-hour volume rose more than 35%, reaching $1.37 billion, which shows higher participation across major exchanges. CoinGlass data recorded an 8% rise in Dogecoin futures open interest, pushing total OI to $1.50 billion during the same period. On a 4-hour timeframe, open interest climbed 1.5% on Binance, 1.64% on OKX, and 1.26% on Bybit, pointing to fresh positioning in the derivatives market.
