21Shares Files Sixth Dogecoin ETF Amendment

21Shares has submitted another amended registration statement to the U.S. Securities and Exchange Commission for its proposed Dogecoin ETF. The move signals the crypto asset manager's continued commitment to launching the fund despite lackluster performance from existing DOGE ETFs in the market. The latest filing represents the sixth amendment to the Form S-1 registration statement. The crypto ETF issuer maintains its core offering details, including a 0.5% management fee, and plans to list the fund on Nasdaq under the ticker symbol 'TDOG'. Coinbase will serve as the custodian for the trust's digital assets. 21Shares plans to purchase $1.5 million worth of Dogecoin when the fund begins trading. The company has not announced any fee waiver strategy to compete with rivals Grayscale and Bitwise, both of which already operate Dogecoin ETFs. The registration statement includes a standard provision noting that the fund cannot commence operations until either 21Shares files another amendment making it effective under section 8(a) of the Securities Act of 1933, or the SEC declares the registration effective. This procedural step remains standard for all ETF launches. The asset manager has already brought two major cryptocurrency ETFs to market this year. 21Shares launched both Solana and XRP exchange-traded funds in recent months. A successful Dogecoin ETF would become the firm's fifth offering, providing direct spot exposure to a digital asset. Existing DOGE ETFs Show Weak Market Demand Current Dogecoin ETFs have struggled to attract investor interest since their late November debut. Data from SoSo Value reveals a troubling trend: the funds recorded eight consecutive trading days with zero inflows starting December 11. The performance metrics paint a challenging picture. Out of 20 trading days since launch, the DOGE ETFs recorded positive net inflows on only five occasions. Combined, the Grayscale and Bitwise funds have accumulated just $2.05 million in total net inflows. Grayscale's DOGE ETF shows $3.03 million in total net inflows. Bitwise faces a more difficult situation, with its fund experiencing net outflows approaching $1 million. Daily trading volumes for both products consistently fall below the $1 million threshold, indicating minimal market activity. Market Implications and Industry Outlook The weak ETF performance mirrors broader challenges for Dogecoin itself. The meme cryptocurrency has declined more than 6% over the past month, a period roughly coinciding with the ETF launches. Year-to-date performance shows even steeper losses, with DOGE down over 58%. At the time of writing, DOGE trades at around $0.1300, suggesting a 2.61% decline in the last 24 hours. DOGE price chart, Source: CoinMarketCap The disparity between ETF launches and investor appetite raises questions about demand for meme coin investment products. Bitcoin and Ethereum ETFs generated billions in inflows during their initial trading periods. Dogecoin ETFs face a markedly different reception.