21Shares Dogecoin ETF is a passive exchange-traded fund that provides investors with direct exposure to Dogecoin through shares traded on Nasdaq, without requiring them to acquire the underlying digital asset directly. The Trust holds Dogecoin in segregated wallets maintained by three digital asset custodians, with a portion kept in cold storage for security and the remainder in hot storage for operational liquidity. The Trust generates revenue through a unitary sponsor fee of 0.50% annually on net assets, paid weekly in Dogecoin, with the Sponsor covering substantially all operating expenses including custody, administration, audit, and regulatory costs from this consolidated fee, thereby offering transparent all-in pricing to institutional and retail U.S. investors seeking regulated cryptocurrency exposure.