Dogecoin investors just got a new way to gain exposure as 21Shares launched its first-ever leveraged DOGE ETF, approved for Nasdaq listing and unveiled alongside its acquisition by FalconX.
Key Takeaways
- 21Shares launched a 2x Long Dogecoin ETF (TXXD) which aims to deliver twice the daily performance of Dogecoin before fees and expenses.
- Nasdaq approved the ETF for listing, marking a milestone for DOGE-focused exchange traded products.
- FalconX has acquired 21Shares, combining its institutional trading platform with 21Shares’ ETF expertise.
- Regulators are still reviewing non-leveraged DOGE ETFs, with Grayscale expected to debut its own soon.
What Happened?
On November 18, Nasdaq approved the listing of 21Shares’ 2x Long Dogecoin ETF, officially called TXXD, just as the crypto asset manager completed its acquisition by FalconX. The fund offers leveraged exposure to Dogecoin’s price movements and is tailored for short-term, high-risk traders. While the leveraged fund has begun trading, 21Shares also has a non-leveraged DOGE ETF application still under review by the U.S. Securities and Exchange Commission.
🚨21SHARES LISTS NEW ETPs ON NASDAQ STOCKHOLM
— Coin Bureau (@coinbureau) November 20, 2025
21Shares just listed 16 new crypto ETPs on Nasdaq Stockholm including $AAVE, $ADA, $LINK, $DOT, plus two crypto index baskets HODL & HODLX. pic.twitter.com/XRc9TcgP94
21Shares Launches Dogecoin ETF on Nasdaq
Nasdaq confirmed the approval of the ETF application filed by Listed Funds Trust for 21Shares on November 18. The ETF began trading on the exchange, allowing investors to gain twice the daily price performance of Dogecoin. The application was processed through Form 8-A 12(b), with Nasdaq confirming listing rights via official correspondence to the SEC.
Michael Friedman, Director of U.S. Capital Markets at 21Shares, called this launch a milestone in their product development. He said:
The fund is not only leveraged and high-risk but also short-term in design. Like other similar ETFs, it is targeted at traders with a higher risk tolerance. The ETF was developed in collaboration with House of Doge, the commercial arm of the Dogecoin Foundation. The two firms previously launched a Dogecoin exchange traded product on Switzerland’s SIX Swiss Exchange and jointly filed for a U.S.-based DOGE ETF earlier this year.
FalconX Completes Acquisition of 21Shares
FalconX, a leading digital asset prime brokerage, has finalized its acquisition of 21Shares. The deal is expected to boost FalconX’s ability to deliver a full spectrum of crypto investment products by combining its trading and risk management infrastructure with 21Shares’ ETF development.
Despite the acquisition, 21Shares will continue to operate independently, led by CEO Russell Barlow. The firm remains focused on expanding its crypto ETF offerings, which already include products for Bitcoin, Ethereum, and Solana.
FalconX has been expanding aggressively in 2025. It previously acquired Arbelos Markets, which focused on crypto derivatives, and invested in Monarq Asset Management to grow its active asset management strategies.
Altcoin ETFs Gain Momentum
The DOGE ETF joins a flurry of altcoin fund launches. Bitwise and VanEck recently launched Solana ETFs, while Canary Capital introduced an XRP-focused fund. The market is also awaiting Grayscale’s non-leveraged Dogecoin ETF, likely to debut next week. Additionally, Rex-Osprey launched its own DOGE ETF via a Cayman Islands structure in September and has applied for a leveraged DOGE fund.
This rise in ETF products reflects growing market demand for diversified crypto investment vehicles beyond Bitcoin and Ethereum. With Dogecoin boasting a market cap of over $23 billion, interest remains strong despite the token trading nearly 78% below its 2021 all-time high of $0.73.
CoinLaw’s Takeaway
In my experience watching crypto markets mature, this kind of ETF launch tells us that memecoins like Dogecoin are now stepping into serious territory. The Nasdaq listing, the FalconX acquisition, and the institutional attention all reflect a major shift in how traditional finance is treating crypto. Sure, leveraged ETFs are risky, but their very existence proves there’s big money willing to back them. I found it especially interesting that House of Doge and 21Shares are forming consistent product strategies globally, which could mean Dogecoin is laying foundations to be more than a joke coin.
