Rumored 21Shares Dogecoin ETF Lacks Official Confirmation

Reports suggest 21Shares has allegedly launched a spot Dogecoin ETF on the DTCC in the United States, assigned the ticker symbol TDOG, but official confirmations remain absent.

The discussion around the ETF highlights potential market growth for Dogecoin, although no immediate financial impacts have been observed due to lack of official confirmation.

Market Influence Minimal Amid Ongoing Doubts

No evidence has been found to support the claim of a Dogecoin ETF authorized under the ticker TDOG. Both 21Shares and DTCC have not issued statements verifying its launch. Regulatory bodies, such as the SEC, also have no recorded filings linked to a Dogecoin ETF by this issuer.

The community, including Dogecoin Foundation and top influencers, remains silent on the supposed ETF proposal. Expert observers are generally skeptical given the absence of any primary source confirmations.

“As of now, there are no announcements regarding a Dogecoin ETF under ticker TDOG.” — Hany Rashwan, CEO & Co-founder, 21Shares AG

Market Data and Expert Insights

Did you know? In past scenarios, legitimate spot ETF announcements for Bitcoin triggered substantial market activity, unlike the reported Dogecoin ETF which lacks such confirmation.

According to CoinMarketCap, Dogecoin (DOGE) currently trades at $0.24, equating to a market cap of 36,624,913,417.00. Its 24-hour trading saw 5,250,681,077.00, a 147.62% increase, yet a 4.13% decrease was recorded in price. The circulating supply reaches 151,053,236,384.00, although max supply remains limitless.

Market experts from Coincu suggest that any genuine Dogecoin ETF launch might potentially drive up liquidity and price based on historical cryptocurrency ETF trends. However, until such an event is formally corroborated, the supposed launch remains speculative.