TDOG officially launches on NASDAQ: Dogecoin Foundation endorsement, 21Shares issuance

January 22, 2026, the cryptocurrency asset market reaches a milestone: the 21Shares spot Dogecoin (DOGE) ETF, officially supported by the Dogecoin Foundation, is listed on NASDAQ under the trading code TDOG.

This is not only the first physically-backed Dogecoin ETF to receive official approval from the SEC in the U.S. market but also marks the opening of mainstream financial channels to the meme culture-rich Dogecoin.

01 ETF Key Highlights: Why is TDOG so Attention-Grabbing?

The listing of TDOG is not an ordinary product launch. It is backed by the Dogecoin Foundation, a non-profit organization dedicated to supporting open-source development and global community building for Dogecoin since 2014. The foundation’s endorsement adds a unique credibility and community legitimacy to this ETF.

From a product design perspective, TDOG aims to provide investors with direct and transparent exposure to Dogecoin. Its assets are backed 1:1 by physical Dogecoin held in institutional custody, with a management fee set at 0.50%. This means investors’ shares are supported by real Dogecoin assets, reducing counterparty risk often present in traditional financial products.

The President of 21Shares pointed out that the primary target clients for this ETF are young, affluent mainstream investors. Access to Dogecoin through traditional brokerage accounts significantly lowers the investment barrier and is expected to bring unprecedented incremental capital and attention to Dogecoin.

02 Market Landscape: How Does TDOG Fit into the Existing DOGE Investment Map?

TDOG is not the only Dogecoin ETF on the market, but its position is special. It is the third physically-backed DOGE ETF to enter the U.S. market, following products from Bitwise and Grayscale.

However, as the first product officially approved by the SEC and supported by the original foundation, TDOG holds a dual advantage in compliance and community recognition. Previously, in 2025, 21Shares launched a 2x leveraged Dogecoin ETF (code TXXD), demonstrating the company’s ongoing strategic deployment in structured crypto products.

The listing of TDOG further enriches the toolkit for investors to allocate Dogecoin through compliant channels. From direct spot trading (such as DOGE/USDT trading on Gate), to leveraged ETFs, and now to this pure spot ETF, investor options are becoming increasingly diverse.

03 Recent Market Performance of Dogecoin (DOGE) and Gate Data

The ETF listing undoubtedly injects new narratives and attention into the underlying asset, Dogecoin. So, how has Dogecoin performed recently? According to the latest data from Gate as of January 23, 2026, Dogecoin’s current price is $0.126.

In the past 24 hours, the price has decreased by 1.27%, and over the past 7 days, it has fallen by 9.62%. Its market cap is approximately $21.1 billion, with a circulating supply exceeding 1,684 billion DOGE.

In terms of trading activity, Gate is one of the important markets for Dogecoin trading. According to the same data source, in the past 24 hours, Dogecoin’s spot trading volume on Gate reached $112 million, ranking among the top globally, demonstrating strong trading interest from Gate users.

04 Investor Perspective: Differences Between Trading DOGE on Gate and Investing via ETF

For different types of investors, directly investing in Dogecoin and investing through TDOG ETF are two distinct paths.

Trading DOGE/USDT or DOGE/USDC spot on mainstream exchanges like Gate offers advantages such as directness, flexibility, and controllable costs. Investors fully own the assets, can trade at any time, withdraw to private wallets, or participate in various ecosystem applications. Gate’s platform provides high liquidity depth for up to 48 million users, ensuring smooth execution of large trades.

In contrast, investing via TDOG ETF offers convenience, compliance, and clear tax implications. Investors do not need to manage private keys or deal with crypto exchanges; they can buy and sell directly within traditional brokerage accounts and enjoy corresponding tax reporting benefits. This is an excellent choice for traditional investors interested in crypto assets but wary of technical barriers.

The two are not mutually exclusive. Savvy investors may adopt a hybrid strategy: actively trading or holding long-term on Gate, while using TDOG ETF within traditional brokerage accounts as a stable component of their crypto asset allocation.

05 Future Outlook: How Will ETFs Shape the Ecosystem Future of Dogecoin?

The listing of TDOG signifies more than just adding an investment product. It represents a key step in Dogecoin’s evolution from a meme coin with strong community and cultural roots to a recognized “asset class” gradually embraced by mainstream finance.

First, ongoing compliance will attract more institutional capital. Regulated entities like pension funds and endowments, previously unable to hold cryptocurrencies directly, now have a compliant entry point via ETFs.

Second, enhanced price discovery and stability. ETFs require custodians to hold substantial physical Dogecoin reserves, and this ongoing buying and holding demand could provide a firmer price floor for Dogecoin.

Finally, it fuels ecosystem development. The Dogecoin Foundation, as a supporter of TDOG, is likely to benefit from the product’s success, enabling more resources to be reinvested into core protocol development, security audits, and global community outreach, creating a positive feedback loop.

Future Outlook

As TDOG begins trading, one of the world’s largest cryptocurrency exchanges, Gate, has also updated its market overview. On Gate’s market page, investors can clearly see that despite market pressures over the past week, Dogecoin’s $21.1 billion market cap still affirms its status as a top-tier cryptocurrency.

With its rich trading pairs (such as DOGE/USDT, DOGE/USDC), deep liquidity, and user-friendly interface, Gate remains one of the preferred platforms for trading Dogecoin. Whether you want to capitalize on short-term volatility from the ETF listing or pursue long-term asset allocation, Gate provides reliable and efficient tools.

The boundary between traditional markets and the crypto world is dissolving, and Dogecoin, a cryptocurrency born from a joke, stands at the forefront of this融合 wave.