TDOG Dogecoin ETF Explained

21Shares’ Dogecoin ETF, TDOG, is listed on the DTCC’s Active and Pre-Launch list under the ticker TDOG, indicating operational readiness but not regulatory approval. The TDOG trust aims to be physically backed by holding Dogecoin directly, with shares designed to track DOGE's price, factoring in a multi-exchange price index for daily net asset value (NAV) calculations. Fees will be deducted in Dogecoin, leading to a gradual decline in the amount of DOGE backing each share over time. The ETF will not trade until the SEC gives formal approval. The trust will also exclude forks or airdrops unless specifically supported. Should TDOG be approved, it will offer convenient trading options through standard brokerage accounts, while allowing investors to compare its price against NAV during market hours. In comparison, the existing REX-Osprey DOGE ETF (DOJE) offers a different structure and fee profile, highlighting that investors will have two options for DOGE exposure with the eventual introduction of TDOG. Until SEC approvals are finalized, traders can explore existing products like DOJE on Cboe.

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