- Business
- 21Shares AG is a Zurich, Switzerland-based issuer of cryptocurrency exchange-traded products and exchange-traded funds, incorporated on July 27, 2018. The company develops and issues regulated, exchange-listed investment vehicles that provide institutional and retail investors with exposure to individual digital assets, baskets of digital assets, staking-related returns and crypto-market themes without requiring direct use of digital-asset exchanges, wallets or self-custody. Its product suite includes physically backed cryptocurrency ETPs and ETFs linked to Bitcoin, Ethereum, Solana, XRP, Sui, Polkadot, Hyperliquid, Dogecoin and other digital assets; multi-asset and index-tracking products; and exchange-traded products listed or distributed across the United States, Europe, Switzerland and Australia. 21Shares AG operates through affiliated issuers and distribution entities, including 21Shares US LLC for certain U.S.-listed funds, and serves investors through conventional brokerage and securities-market infrastructure.
Among its offerings, the 21shares Dogecoin ETF, trading on Nasdaq under the ticker TDOG, is a U.S.-listed digital-asset ETF that seeks to track the performance of Dogecoin, less expenses and liabilities, by holding Dogecoin in institutional-grade custody on a one-for-one basis. TDOG provides spot Dogecoin exposure through shares that can be bought and sold in brokerage accounts; its investment objective is measured against the FTSE Dogecoin Index, carries a 0.50% management fee and commenced trading on January 22, 2026. The fund is not registered under the U.S. Investment Company Act of 1940 and therefore does not provide the same regulatory protections as registered ETFs and mutual funds. 21Shares launched TDOG as a fully backed, transparent exchange-traded vehicle and stated that it is the only ETF provider endorsed by the House of Doge/Dogecoin ecosystem.
Recent strategic developments include the January 2026 launch of TDOG, expanding 21Shares’ U.S. single-asset digital-asset ETF offering; an August 2026 global benchmark partnership with FTSE Russell, an LSEG business, to standardize index methodology, pricing and governance across 21Shares’ U.S., European and Australian ETP suites; and the August 27, 2026 transition of TDOG and selected U.S.-listed single-asset ETFs to FTSE Russell digital-asset indices, with TDOG adopting the FTSE Dogecoin Index. 21Shares also has expanded its U.S. indexed-crypto offering through ETFs developed with Teucrium Trading that track broad FTSE crypto indexes, including exposure to Ethereum, Solana and Dogecoin.