21Shares has launched a new leveraged ETF linked to Dogecoin, timed right alongside the finalization of its acquisition by FalconX. The move introduces a fresh way for traders to engage with one of crypto’s most well-known meme coins, while also marking a turning point for the companies involved.
The 21Shares 2x Long Dogecoin ETF, trading under the ticker TXXD, opened on Nasdaq on November 20, 2025. It’s designed to give around 200 percent of Dogecoin’s daily performance before fees. This means it tracks DOGE closely, but with added intensity.
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The ETF builds on 21Shares’ growing catalogue of crypto investment products in the U.S. What sets this one apart is the coin it tracks. Dogecoin began as a joke, gained momentum through social media, and is now available in a double-leveraged fund on a major exchange. That transition shows just how far meme coins have come in gaining market legitimacy.
TXXD also comes with backing from the Dogecoin Foundation’s corporate branch, House of Doge. That collaboration helps reinforce the project’s community roots, while offering a bridge for DOGE fans who prefer to trade through more traditional platforms.
The launch happened as FalconX completed its acquisition of 21Shares. First announced on October 22, 2025, the deal combines FalconX’s institutional trading infrastructure with 21Shares’ experience in launching exchange-traded products.
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21Shares will keep its current leadership and maintain operational independence, but it now operates under the FalconX umbrella. This gives it access to broader resources and a stronger foothold in global markets, including the U.S., Europe, and Asia-Pacific.
With this acquisition now complete, FalconX extends its reach and positions itself to deliver more regulated crypto financial products to a wider audience.
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The combined rollout of a high-volatility Dogecoin ETF and the closing of a major acquisition demonstrate how crypto companies are developing products that appeal to both retail and institutional investors. Offering a 2x leveraged DOGE ETF in a traditional wrapper makes it easier for risk-tolerant traders to speculate using familiar tools.
The timing of the acquisition suggests FalconX and 21Shares are ready to push deeper into regulated finance, using infrastructure that supports both trading and product development across multiple markets.
This ETF is built for short-term traders, not passive investors. Its design means daily returns are amplified, but that also means compounding effects can lead to unexpected outcomes over time. In volatile markets, the math behind those returns gets more complex.
Holding TXXD for multiple days may not reflect a clean 2x return. For anyone using this fund, understanding how leverage interacts with daily volatility is critical. That complexity, paired with Dogecoin’s naturally erratic price movement, makes this a product best suited for experienced traders.
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21Shares already offers ETFs tracking assets like Bitcoin, Ethereum, and Solana. Now, with FalconX behind it, the firm is positioned to accelerate new product development. There’s growing demand for exchange-listed crypto products, and both retail and institutional players are watching the space closely.
This launch gives the market something new to chew on. It also hints at a broader trend where crypto and traditional finance continue moving toward each other in ways that feel more familiar, but no less ambitious.
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