Market News

First US Dogecoin ETF Set to Launch: A Game-Changer for DOGE Investors

Speculation is mounting as the first US Dogecoin (DOGE) exchange-traded fund (ETF) is poised to launch, potentially as early as next week.

Market analysts predict that REX Shares and Osprey Funds will introduce this groundbreaking ETF, trading under the ticker DOJE.

Senior ETF analyst Eric Balchunas has indicated that the fund’s effective prospectus has been filed with the SEC, paving the way for launch.

This ETF aims to provide direct exposure to Dogecoin, a cryptocurrency that has experienced significant price fluctuations, gaining over 121% in the past year.

Despite its meteoric rise, DOGE is still down 50% from its peak in January 2024, highlighting the asset's volatility.

REX's strategy leverages a regulatory workaround under the Investment Company Act of 1940, diverging from conventional SEC submission routes taken by other issuers.

The anticipated launch comes as the new SEC administration shows a more favorable attitude towards crypto, potentially accelerating the approval process for ETFs.

Historically, similar ETF launches have positively impacted the underlying assets; for instance, Solana’s recent ETF led to a notable price surge.

Market participants are eagerly watching how DOJE’s launch might affect Dogecoin's price dynamics and liquidity levels.

As DOGE trades at approximately $0.216 at press time, this development could usher in new investors and enhance market activity.