House of Doge and Merger Partner Brag House Holdings Announce Launch of the 21shares Dogecoin ETF (TDOG)

Rhea-AI Summary

House of Doge and merger partner Brag House Holdings (NASDAQ: TBH) announced the launch of the 21shares Dogecoin ETF (TDOG), a physically backed Dogecoin ETF that began trading on NASDAQ on January 22, 2026. TDOG holds DOGE on a 1:1 basis in institutional custody, offers regulated exchange-traded access without wallets or exchanges, and charges a 0.50% fee. TDOG is not registered under the Investment Company Act of 1940 and carries significant risk and heightened volatility; investors may lose the entire investment.

Positive

• NASDAQ listing effective January 22, 2026
• 1:1 physically backed custody of Dogecoin
• Fee 0.50% disclosed in fund table
• Dogecoin Foundation endorsement of the ETF

Negative

• Not registered under the '40 Act, fewer investor protections
• Fund subject to significant risk and heightened volatility
• Issuer warns investors may lose entire investment

News Market Reaction

+8.07%

5 alerts

+8.07% News Effect

+14.1% Peak in 22 hr 28 min

+$750K Valuation Impact

$10M Market Cap

0.5x Rel. Volume

On the day this news was published, TBH gained 8.07%, reflecting a notable positive market reaction. Argus tracked a peak move of +14.1% during that session. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $750K to the company's valuation, bringing the market cap to $10M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

TDOG fee: 0.50% TDOG inception date: January 22, 2026 TDOG ticker: TDOG +5 more

8 metrics

TDOG fee 0.50% Annual fee for 21shares Dogecoin ETF (TDOG)

TDOG inception date January 22, 2026 Start of trading on NASDAQ for TDOG

TDOG ticker TDOG Trading symbol for 21shares Dogecoin ETF on NASDAQ

ISIN US90137N1063 ISIN identifier for TDOG ETF

TBH price move 7.25% TBH 24h price change prior to article publication

52-week range $0.3607–$10 TBH 52-week low and high before this news

200-day MA $0.95 TBH 200-day moving average level

Volume vs avg 145,068 vs 290,830 Today’s TBH volume vs 20-day average

Market Reality Check

Price: $0.3435 Vol: Volume 145,068 is about 0...

low vol

$0.3435 Last Close

Volume Volume 145,068 is about 0.5x the 20-day average of 290,830, indicating only moderate participation in the move. low

Technical Shares at $0.435 are trading below the 200-day MA of $0.95 and remain 95.65% under the 52-week high.

Peers on Argus

TBH is up 7.25% while peers show mixed moves: BHAT +8.62%, GIGM +2.03%, but MSGM...

TBH is up 7.25% while peers show mixed moves: BHAT +8.62%, GIGM +2.03%, but MSGM -1.19% and GXAI -1.8%, pointing to stock-specific interest around the Dogecoin ETF news.

Historical Context

5 past events · Latest: Jan 20 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 20	Crypto app launch	Positive	-14.0%	Announced Such app to expand Dogecoin utility and merchant acceptance.
Dec 16	Gaming partnership	Positive	-6.9%	Florida Gators gaming tournament with cash and Dogecoin-based prizes.
Dec 04	Merger valuation	Positive	+1.0%	Disclosed ~$1.09B fairness opinion on proposed House of Doge merger.
Nov 20	Leveraged ETF launch	Positive	-9.6%	Celebrated NASDAQ debut of 21Shares 2x Long Dogecoin ETF TXXD.
Nov 12	Strategy interview	Positive	+6.4%	CEO outlined post-merger ‘Culture to Capital’ strategy and verticals.

Pattern Detected

Positive crypto/merger news has produced mixed reactions, with several past Dogecoin ecosystem milestones followed by short-term price declines.

Recent Company History

Over the last six months, TBH’s story has centered on its merger with House of Doge and expanding Dogecoin-related products. An October 17, 2025 merger agreement outlined large share issuance and House of Doge control. Subsequent milestones included the November 20, 2025 launch of leveraged ETF TXXD and the January 20, 2026 announcement of the Such app. Despite these fundamentally growth-oriented steps, several prior crypto/ETF announcements were followed by negative 24-hour moves, making today’s positive reaction to the TDOG ETF launch a contrast to that pattern.

Market Pulse Summary

The stock moved +8.1% in the session following this news. A strong positive reaction aligns with TBH...

Analysis

The stock moved +8.1% in the session following this news. A strong positive reaction aligns with TBH’s strategic tie to the Dogecoin ecosystem, as the TDOG ETF adds a physically backed, NASDAQ-listed product to prior initiatives like the TXXD leveraged ETF and the Such app. However, history shows that earlier Dogecoin-related launches were followed by 24-hour moves of -14.01% and -9.63%, so past volatility around similar news suggests that sentiment has shifted but remained fragile.

Key Terms

exchange-traded funds, etf, physically backed, institutional-grade custody, +3 more

7 terms

exchange-traded funds financial

"one of the world’s leading issuers of crypto exchange-traded funds (ETFs)"

An exchange-traded fund is an investment product that bundles many stocks, bonds, or other assets into a single package that trades on a stock exchange like an individual share; think of it as a ready-made basket you can buy or sell throughout the trading day. For investors it matters because ETFs provide easy access to broad exposure, typically lower costs and built-in diversification, and the ability to adjust positions quickly without buying each asset separately.

etf financial

"TDOG offers investors regulated, physically backed exposure to DOGE through an ETF structure"

An ETF, or exchange-traded fund, is like a basket of different investments such as stocks or bonds that you can buy or sell easily on the stock market, just like a regular share. It allows people to invest in many companies at once, making it a simple way to grow savings without picking individual stocks.

physically backed technical

"New physically backed ETF brings regulated Dogecoin exposure to U.S. investors"

An asset labeled as "physically backed" means the investment actually holds the real underlying item—such as bars of metal, crates of commodities, or shares stored in custody—rather than promises or contracts tied to that item. For investors, this matters because owning something physical reduces the chance of losing value if a counterparty fails to pay or deliver, and it usually makes the investment track the real-world price more closely, like owning a car instead of a promise to get one later.

institutional-grade custody technical

"holding the asset on a 1:1 basis in institutional-grade custody"

Institutional-grade custody is professional, high-security storage and record-keeping for financial assets—stocks, bonds, cash, or digital tokens—provided by specialized firms that follow regulatory rules, maintain strong controls, and often carry insurance. Think of it like a bank vault with trained guards, detailed logs, and independent checks; for investors it lowers the risk of theft, loss, or bookkeeping errors, builds trust, and can be required for larger or regulated holders.

investment company act of 1940 regulatory

"TDOG is not registered under the Investment Company Act of 1940, as amended"

A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

'40 act regulatory

"and is not subject to the same regulations and protections as '40 Act registered ETFs"

'40 Act is shorthand for the U.S. Investment Company Act of 1940, a federal law that sets rules for pooled investment vehicles like mutual funds and many ETFs. Think of it as traffic laws for funds: it requires clear disclosure of fees and holdings, limits risky or self-dealing behavior, and mandates safeguards for investors’ assets. Investors care because these rules increase transparency, reduce conflicts of interest, and help protect their money.

isin financial

"Ticker | ISIN | Exchange | Currency | Fee | Inception Date | Issuer"

A 12-character International Securities Identification Number (ISIN) is a unique code that acts like a passport for a specific stock, bond or other tradable security so it can be identified worldwide. Investors and systems use it to ensure they are buying, selling and tracking the exact same instrument across exchanges and data feeds, which prevents costly mix-ups and makes portfolio reporting, settlement and regulatory checks simpler and more reliable.

AI-generated analysis. Not financial advice.

New physically backed ETF brings regulated Dogecoin exposure to U.S. investors

NEW YORK and MIAMI, Jan. 22, 2026 (GLOBE NEWSWIRE) -- House of Doge, the official corporate arm of the Dogecoin Foundation, along with merger partner Brag House Holdings Inc. (NASDAQ: TBH), today announced the launch of the 21shares Dogecoin ETF (Ticker: TDOG) (the “Fund”), the only Dogecoin ETF provider endorsed by the Dogecoin Foundation¹. Launched by House of Doge partner 21shares, one of the world’s leading issuers of crypto exchange-traded funds (ETFs), TDOG offers investors direct exposure to Dogecoin (DOGE) through a fully backed, transparent, and exchange-traded vehicle. The new ETF will begin trading on NASDAQ on 22 January 2026.

The 21shares Dogecoin ETF (TDOG) provides investors with secure and straightforward access to DOGE, holding the asset on a 1:1 basis in institutional-grade custody. TDOG allows investors to participate in Dogecoin’s growth without navigating digital wallets, crypto exchanges, or custody complexities – using the same brokerage accounts they already rely on.

The launch of TDOG builds on House of Doge’s existing collaboration with 21shares. In 2025, 21shares introduced the 21shares 2x Long Dogecoin ETF (TXXD), a leveraged ETF offering investors in the U.S. twice the daily exposure to Dogecoin, as well as the only Dogecoin ETP in Europe, the only one endorsed by the Dogecoin Foundation, reinforcing its commitment to delivering institutional-grade access to this highly-demanded digital asset. 21Shares and House of Doge serve as equal partners building new opportunities across the Dogecoin ecosystem, all supported by the Foundation.

Dogecoin’s ecosystem continues to mature, with increasing merchant adoption and one of the largest, most engaged communities in crypto. Its guiding principle – “Do Only Good Everyday” – has fueled charitable initiatives, cultural relevance, and widespread mainstream recognition.

“Dogecoin is a unique asset with a global community and expanding real-world use cases,” said Federico Brokate, Global Head of Business Development at 21shares. “TDOG offers investors regulated, physically backed exposure to DOGE through an ETF structure they already understand and trust.”

“TDOG is another step toward making Dogecoin accessible through established financial structures, supporting broader participation as the ecosystem matures, and we’re pleased to see our partnership with 21Shares helping advance that progress,” said Marco Margiotta, CEO of House of Doge.

Lavell Juan Malloy II, CEO of Brag House, commented, “Culture cannot become capital if it is hard to access. By removing the friction associated with digital wallets and exchanges, the Dogecoin ETF represents a meaningful step toward democratizing access to a new class of digital assets. At Brag House, we see this as clear validation that engaged communities can evolve into structured, investable assets within a regulated framework, a milestone that underscores the convergence of culture, technology, and capital markets.”

TDOG is not registered under the Investment Company Act of 1940, as amended (“'40 Act”), and is not subject to the same regulations and protections as '40 Act registered ETFs and mutual funds. TDOG is subject to significant risk and heightened volatility. Dogecoin assets are not suitable for an investor who cannot afford the loss of the entire investment. An investment in TDOG is not a direct investment in Dogecoin.

21shares Dogecoin ETF (TDOG)

Ticker	ISIN	Exchange	Currency	Fee	Inception Date	Issuer
TDOG	US90137N1063	NASDAQ	USD	0.50%	January 22, 2026	21Shares US LLC

The launch of TDOG highlights 21shares’ ongoing leadership in bringing regulated, transparent, and secure digital asset products to investors worldwide. Recently, 21shares joined forces with FalconX to create a full-service digital assets provider spanning brokerage, liquidity, investment management, lending, and structured products.

About House of Doge

House of Doge is the official corporate arm of the Dogecoin Foundation, committed to advancing Dogecoin ($DOGE) as a widely accepted and decentralized global currency. By investing in the infrastructure needed to bring Dogecoin into everyday commerce, House of Doge is building secure, scalable, and efficient systems for real-world use. From payments and financial products to real-world asset tokenization and cultural partnerships, House of Doge is leading the next era of crypto utility, where Dogecoin goes beyond the meme and fulfills its mission of Doing Only Good Everyday on a global scale.

About 21shares

21shares is one of the world’s leading cryptocurrency exchange traded product (ETP) providers and offers one of the largest suites of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21shares listed the world’s first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto ETPs that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialized research team, proprietary technology, and deep capital markets expertise, 21shares delivers innovative, simple and cost-efficient investment solutions.

21shares is a subsidiary of FalconX, one of the world's largest digital asset prime brokers. 21shares maintains independent operations from FalconX while strategically leveraging the resources and reach of FalconX to accelerate its mission and unlock new growth. For more information, please visit www.21shares.com.

About Brag House

Brag House is a leading media technology gaming platform dedicated to transforming casual college gaming into a vibrant, community-driven experience. By seamlessly merging gaming, social interaction, and cutting-edge technology, the Company provides an inclusive and engaging environment for casual gamers while enabling brands to authentically connect with the influential Gen Z demographic. The platform offers live-streaming capabilities, gamification features, and custom tournament services, fostering meaningful engagement between users and brands. For more information, please visit www.braghouse.com.

Media Contacts

21shares
Audrey Belloff: audrey.belloff@21shares.com
Alethea Jadick: ajadick@sloanepr.com

Brag House Holdings
Fatema Bhabrawala
Director of Media Relations fbhabrawala@allianceadvisors.com

House of Doge
Angela Gorman
Communications Director
Email: angela@houseofdoge.com
Tel: (917) 348-0083

Investor Relations Contact
Brag House Holdings
Adele Carey
VP, Investor Relations
ir@thebraghouse.com

An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The prospectus and, if available, the summary prospectus contain this and other information about the Fund. You may obtain a prospectus and, if available, a summary prospectus by downloading the prospectus from www.21Shares.com or calling (646) 370-6016. Please read the prospectus or summary prospectus carefully before Investing. The Fund is a recently organized investment company with a limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decision.

Important Disclosures and Risks

Crypto assets, such as DOGE, operate without central authority or banks and are not backed by any government. Crypto assets are often referred to as a “virtual asset” or “digital asset,” and operate as a decentralized, peer-to-peer financial trading platform and value storage that is used like money. A crypto asset is also not a legal tender. Investments linked to DOGE can be highly volatile compared to investments in traditional securities and the Funds may experience sudden and large losses. The markets for DOGE and DOGE-related investments may become illiquid. These markets may fluctuate widely based on a variety of factors. An investor should be prepared to lose the full principal value of their investment suddenly and without warning. A number of factors affect the price and market for DOGE such as new technology and supply and demand for DOGE.

DOGE and DOGE-related investments are relatively new investments. The performance of DOGE-related investments, and therefore the performance of the Fund, may differ significantly from the performance of DOGE.

The use of leverage increases the risk of loss and volatility, and the Fund may not be suitable for all investors. It is intended for sophisticated investors who understand the effects of daily compounding and are able to actively monitor and manage their investments. Investors could lose the entire value of their investment within a single trading day. Leverage may amplify both gains and losses.

The Fund’s goal is not to achieve its stated objective over periods longer than a single day. Compounded daily rebalancing can lead to returns that differ from twice the price performance of DOGE for the same period. The Fund will lose money if the price performance of DOGE is flat over time, and the Fund can lose money regardless of the performance of DOGE due to daily rebalancing, the volatility of the price of DOGE, compounding of each day’s return, and other factors. There is no guarantee that the Fund will meet its stated objective.

Futures investing is highly speculative and involves a high degree of risk. An investor may lose all or substantially all of an investment in the Fund. Investing in commodity interests subjects the Fund to the risks of its related industry.

The Fund is classified as a “non-diversified” investment company under the 1940 Act and may invest a larger percentage of its assets in a single position or issuer than a diversified fund.

The Fund currently intends to effect creations and redemptions principally for cash, rather than principally in-kind because of the nature of the Fund's investments. As such, investments in the Fund may be less tax efficient than investments in ETFs that create and redeem in-kind. The Fund is deemed a commodity pool and is therefore subject to regulation under the Commodity Exchange Act and the rules of the Commodity Futures Trading Commission (CFTC).

An investment in the Fund involves risk, including possible loss of principal. ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETF's net asset value (NAV), and are not individually redeemable directly with the ETF. Brokerage commissions and ETF expenses will reduce returns. ETFs are subject to specific risks, depending on the nature of the underlying strategy of the Fund. These risks could include Clearing Broker Risk, Collateral Securities Risk, Cybersecurity Risk, Early Close/Trading Halt Risk, Intra-Day Investment Risk, Market Risk, Reverse Repurchase Agreements Risk, Valuation Risk, Whipsaw Markets Risk, and XRP-Related Investments Tax Risk. For a complete description of the Fund’s principal investment risks, please refer to the prospectus.

Shares of the Fund are not FDIC insured, may lose value, and have no bank guarantee.
Shares are not individually redeemable directly with the Fund. Brokerage commissions and Fund expenses will reduce returns.

_________________________                                       

¹Source: “21Shares Forms Exclusive Partnership with the House of Doge to Launch Dogecoin ETPs Globally”, GlobeNewswire, April 9, 2025, http://globenewswire.com/news-release/2025/04/09/3058940/0/en/21Shares-Forms-Exclusive-Partnership-with-the-House-of-Doge-to-Launch-Dogecoin-ETPs-Globally.html

FAQ

When did the 21shares Dogecoin ETF (TDOG) begin trading on NASDAQ?

TDOG began trading on NASDAQ on January 22, 2026.

What custody structure does TDOG use to hold Dogecoin (DOGE)?

TDOG holds DOGE on a 1:1 basis in institutional-grade custody.

How much is the annual fee for TDOG and where is it disclosed?

TDOG charges a 0.50% annual fee, shown in the fund table.

Is TDOG registered under the Investment Company Act of 1940 ('40 Act)?

No. TDOG is not registered under the '40 Act and is not subject to the same protections as '40 Act funds.

Does an investment in TDOG equal direct ownership of Dogecoin?

No. The announcement states an investment in TDOG is not a direct investment in Dogecoin.

What is Brag House Holdings' ticker and role in the TDOG launch?

Brag House Holdings trades as TBH on NASDAQ and is a merger partner in the TDOG launch.