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October 9, 2025

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What is TDOG, and how does it work?

21Shares’ Dogecoin exchange-traded fund (ETF), TDOG, recently appeared on the DTCC’s Active and Pre-Launch list under the ticker TDOG. The listing connects brokers and clearing institutions in preparation for potential trading, but it does not indicate regulatory approval.

The proposed TDOG/21Shares Dogecoin (DOGE) trust is intended to be physically backed (i.e., holding Dogecoin directly) and to issue shares designed to track DOGE’s price (less fees).

The fund calculates its daily net asset value (NAV)…

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