21Shares Amends S-1: 0.50% Fee, Custodians and Seed Details for Proposed TDOG Spot Dogecoin ETF
21Shares filed an amended S-1 for a proposed spot Dogecoin (DOGE) ETF that, if approved, would list on Nasdaq under the ticker TDOG. The amendment discloses a 0.50% management/sponsor fee that accrues daily and will be paid weekly in DOGE. Bank of New York Mellon is named administrator, cash custodian and transfer agent; Anchorage Digital Bank and BitGo are additional custodians. 21Shares US LLC is the seed investor and the trust plans to use $1.5 million to purchase DOGE at or before listing. The fund will be a plain-vanilla spot vehicle holding only DOGE, tracking its dollar price without leverage or active trading; creation/redemption fees are charged to authorized participants and may be adjusted with notice. No fee waiver was disclosed. After the filing amendment, DOGE rallied ~11% and 24-hour volume rose ~35%, though price remained below the 50- and 200-day moving averages with RSI near 45. The public fee and operational disclosure moves TDOG closer to launch, but final timing depends on SEC review. KEYWORDS: Dogecoin ETF, TDOG, 21Shares, management fee, custodians, Nasdaq, DOGE price.
Bullish
The amendment provides concrete operational and fee disclosures that reduce execution uncertainty for a spot Dogecoin ETF. Clear custody arrangements (BNY Mellon, Anchorage, BitGo), a specified 0.50% management fee, and a disclosed seed purchase ($1.5M) are positive signals for institutional and retail confidence; they make a potential TDOG listing more probable and tradable. The immediate market reaction — an ~11% DOGE rally and higher volume — indicates short-term buying interest driven by ETF optimism and reduced regulatory/business uncertainty. Short-term impact: likely bullish volatility as traders front-run approval expectations and allocate into DOGE on ETF-related flows. Medium-to-long term: if approved, a spot ETF would provide a new on-ramp for capital into DOGE, supporting higher liquidity and potentially higher price floor; however, the modest 0.50% fee and lack of fee waiver mean inflows depend on investor demand vs competing BTC/ETH/other crypto ETFs. Risks remain: SEC timing uncertainty and broader crypto market trends could mute or reverse gains. Overall, the filing is a net positive for DOGE price prospects but subject to regulatory and market-headline risk.