Wall Street has shown "limited enthusiasm" for Dogecoin's new ETF product.

Crypto asset management firm 21Shares launched a new Dogecoin (DOGE) ETF, further pushing the meme currency into the traditional financial system. The ETF began trading on Nasdaq on Thursday under the ticker symbol TDOG. 21Shares stated that this is the latest addition to its crypto ETF product line, which previously included ETFs for Bitcoin, Ethereum, Solana, and XRP. The company also emphasized that it is the only ETF issuer endorsed by the House of Doge, an organization under the Dogecoin Foundation. Despite this, overall market demand for meme ETFs remains relatively restrained. Data shows that the first U.S. Dogecoin ETF launched last September, and its cumulative trading volume to date is approximately $200 million, indicating that Wall Street's interest in allocating to memes remains limited. 21Shares stated that TDOG aims to provide investors with a compliant, physically backed investment channel for DOGE, lowering the barrier to entry through the ETF format; the Dogecoin Foundation stated that the product will help promote the further adoption of Dogecoin within mature financial structures.