The first Dogecoin exchange-traded fund (ETF) in the United States may launch as early as next week, according to Bloomberg analyst Eric Balchunas.
While sharing a post by REX Shares on September 4, Balchunas said that the ETF had filed an effective prospectus with the U.S. Securities and Exchange Commission (SEC), under the ticker DOJE, signaling the potential launch. The prospectus also lists exchange-traded funds (ETFs) for other cryptocurrencies including BTC, ETH, SOL, XRP, BONK, and TRUMP.
In the filing, REX warned that Dogecoin (DOGE) is “a relatively new innovation” with unique and substantial risks. The SEC filing also emphasized the instability of the Dogecoin market with its price fluctuating rapidly and remaining unpredictable.
DOJE aims to gain exposure to the Reference Asset by investing in its DOGE subsidiary, the REX-Osprey DOGE (Cayman) Portfolio S.P.
Dogecoin’s Market Performance
During the last one year, Dogecoin has experienced a massive rise of 120.94% and is currently trading at 0.2142, as per CoinMarketCap. The token is still down 54% since its 2024 peak of $0.4672 in December.
Dogecoin continues to capture mainstream attention, partly due to its association with Elon Musk, who has referred to himself as the “Dogefather” and described Dogecoin as “a hustle” during a 2021 Saturday Night Live appearance.
REX Takes a Different ETF Path
Unlike most crypto ETFs that follow the standard SEC approval process, REX is pursuing a 40 Act fund strategy, which ETF Store president Nate Geraci calls a “regulatory end-around.” REX previously used this approach to launch a Solana staking ETF.
The 40 Act , or the Investment Company Act of 1940, is a U.S. federal law that regulates investment funds to protect investors from fraud and conflicts of interest.
While other issuers, including Bitwise, Grayscale, and 21Shares, await SEC approval for traditional Dogecoin ETFs, REX could beat them to market, making Dogecoin more accessible to mainstream investors.
The increasing popularity of Dogecoin and its high-profile support indicate that the new ETF may be of great interest to both crypto enthusiasts and new investors.
Also Read: REX-Osprey Converts Solana Staking ETF (SSK) to RIC Structure
