Best Dogecoin ETFs to buy in 2023

By:

James Knight

James is a lead editor for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets. His ... read more.

Updated: Oct 11, 2022

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You can invest in some of the most popular cryptocurrencies by buying shares in an ETF, or ‘exchange-traded fund’. These ETFs are great for beginners because they own a basket of different assets and trade on the stock market, so they are less risky and easier to buy than crypto coins themselves.

What are the top Dogecoin ETFs to buy?

At the moment, there aren’t any Dogecoin ETFs available. Before an ETF can be added to a stock market it needs to be approved by financial regulators, and that process has been slow for ones that own cryptocurrency. However, this page is constantly being updated so that as soon as one is created, it will be added to the table below.

In the interim, our experts have chosen some broader cryptocurrency ETFs that allow you to get exposure to the market as a whole. You can find these in the table, or you can learn how to buy ETFs outright if you’re determined to get your hands on any type of ETFs.

1. 21Shares Bitwise Select 10 (TSE: KEYS)

This ETF tracks the performance of a group of the largest cryptocurrencies. It owns ten of the leading coins by market capitalisation with the aim of tracking the growth of the market as a whole.

While it doesn’t own Dogecoin, the 21Shares fund is heavily exposed to Bitcoin and Ethereum. The two coins make up about 90% of the total assets in the fund, so its performance is likely to mirror that of the two most popular cryptocurrencies.

Alongside Bitcoin and Ethereum, the fund owns a smaller amount of 8 other coins, including Cardano, Solana, and Litecoin. 21Shares only set up this fund in 2021 and updates its holdings every month, which means it may eventually include Dogecoin in the future.

2. 21Shares Crypto Basket Index ETP

This second 21Shares fund is more focused on the very top of the cryptocurrency market. It owns just five coins and is more balanced than the Select 10 fund. It was also set up in May 2021.

The aim of this particular fund is to give you exposure to the top 75% of the crypto market. It does so by owning five coins that represent the leading edge. At the moment, they are Bitcoin, Polkadot, Ethereum, Cosmos, and Cardano. It may add Dogecoin at some point in the future if it continues to grow.

Both of these funds offer a way for you to get a piece of the cryptocurrency market that you expect to grow. While it’s not possible to get Dogecoin in them yet, these are just a couple of the funds on offer. There are also a variety of dedicated Bitcoin and Ethereum ETFs available.

Where to buy the best Dogecoin ETFs

To buy shares in an ETF, you need to have an account with an online broker. All of the brokers below are ideal for beginners and experienced users alike. Sign up to set up an account by clicking the links in the table.

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What is a Dogecoin ETF?

It’s an exchange-traded fund that holds the Dogecoin cryptocurrency, or a basket of different assets, like stocks, whose business is in owning or speculating on Doge. As its name might suggest, an exchange-traded fund is a fund that trades on a stock exchange through its own unique ticker symbol, and you can buy or sell shares in it.

Are Dogecoin ETFs a good investment?

Remember that Dogecoin-specific ETFs aren’t available to invest in just yet. When they are, the answer depends on what you’re looking for. ETFs are more secure than buying cryptocurrency because they are regulated, so investors have some protection against losing all of their money. Read more

However, crypto ETFs are a lot more volatile than traditional funds that own stocks or commodities. Whereas normal ETFs hold a lot of assets and reduce the risk of big swings in value through diversification, crypto ones are often focused on one or two assets. It’s not uncommon for these assets to experience big swings in value over the course of the day.

If you understand that a crypto ETF is a tool to speculate on cryptocurrencies through more traditional channels, rather than a way to reduce the risk of your investment, then there’s no harm in putting some money into one.