21Shares Dogecoin ETF 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market Information The Shares are listed on the Exchange under the symbol “TDOG” and have been listed since January 22, 2026. Holders As of December 31, 2025, there were no DTC participating shareholders of record of the Trust. Sales of Unregistered Securities and Use of Proceeds of Registered Securities On September 17, 2025, the Sponsor, in its capacity as the Seed Capital Investor, subject to conditions, purchased the initial Seed Shares comprising 2 Shares at a per-Share price of $50.00. Total proceeds to the Trust from the sale of these Initial Seed Shares were $100. Such sale was made in a private placement exempt from registration in reliance on Section 4(a)(2) of the Securities Act in a transaction by an issuer not involving a public offering. Delivery of the Initial Seed Shares was made on September 17, 2025. Proceeds received by the Trust from the issuance of Baskets consist of Dogecoin. Such deposits are held by the Custodians on behalf of the Trust until (i) delivered out in connection with redemptions of Baskets; or (ii) transferred or sold by the Sponsor, which may be facilitated by the Custodians, to pay fees due to the Sponsor and Trust expenses and liabilities not assumed by the Sponsor. The Trust does not purchase Shares directly from its Shareholders. In connection with the Trust’s redemption of Creation Baskets held by Authorized Participants, the Trust did not redeem any Creation Baskets during the period from September 17, 2025 (date of initial seed) through September 30, 2025. The following table summarizes the redemptions by Authorized Participants during the period: Period Total Shares Redeemed Average Price Per Share Maximum number of shares that may yet be purchased September 17, 2025 (date of initial seed) – September 30, 2025 0 N/A N/A 70 Item 6. [Reserved]