First Spot Dogecoin ETF to Launch on September 11

TLDR

Table of Contents

REX-OSPREY’s Dogecoin ETF launches Sept 11 under the ’40 Act, trading with the ticker ‘DOJE’.
Dogecoin price rose from $0.21 to $0.245 after ETF launch news.
Bloomberg’s Balchunas calls it the first ETF to hold an asset “with no utility on purpose.”
Grayscale, Bitwise, and 21Shares await SEC approval for DOGE ETFs under the ’33 Act.

The first-ever spot Dogecoin ETF is scheduled to go live on September 11. The fund, managed by REX-OSPREY, will trade under the ticker “DOJE.” This launch makes it the first ETF in the United States focused entirely on Dogecoin, signaling a new step in the growing interest in meme-based digital assets.

REX-OSPREY to Launch Dogecoin ETF Under the ’40 Act

REX-OSPREY confirmed plans to launch its Dogecoin ETF after earlier hints last week. The fund will be launched under the Investment Company Act of 1940 (’40 Act), which provides a more regulated structure compared to ETFs filed under the Securities Act of 1933 (’33 Act).

Bloomberg ETF analyst Eric Balchunas shared the launch date in a post on social media platform X. He described it as the first U.S. ETF to hold an asset “with no utility on purpose.” Balchunas pointed out that REX-OSPREY is using the same structure it used to list its Solana ETF earlier this year.

The Dogecoin ETF under the ’40 Act is expected to offer daily liquidity and operate like a traditional exchange-traded fund. REX-OSPREY’s choice to go with this route allows them to bring the product to market without waiting for approval under the ’33 Act, which applies to other pending Dogecoin ETFs.

Dogecoin Price Rises Ahead of ETF Launch

Following news of the ETF launch, Dogecoin has seen a steady rise in price. According to TradingView, the price climbed from around $0.21 last week to $0.245 at the time of writing. This move reflects increased interest from investors and traders ahead of the fund’s debut.

Trading activity around Dogecoin has also increased, with more attention focused on how the ETF will affect future demand. Analysts suggest that listing a spot ETF could increase access to Dogecoin exposure for traditional investors.

Market watchers are monitoring the DOGE/USDT pair closely as volume continues to rise. The launch could also encourage more participation from institutions that prefer regulated investment vehicles over direct crypto holdings.

More Dogecoin ETFs Await SEC Approval

While REX-OSPREY is moving forward under the ’40 Act, several other firms are waiting for approval to launch similar products under the ’33 Act. Grayscale, Bitwise, and 21Shares have each submitted filings for Dogecoin ETFs.

According to Balchunas, the chances of approval for these ETFs remain high, with a 90% probability that the SEC will allow them this year. The final deadline for the SEC to decide on Grayscale’s application is October 18, while Bitwise must wait until November 12.

There is a chance that the SEC could approve all pending Dogecoin ETFs together, similar to how Bitcoin and Ethereum ETFs were approved earlier this year. If so, this could lead to multiple DOGE-related products entering the market at once.

These developments indicate that more regulated investment options for meme coins could become available soon. If the SEC gives the green light, Dogecoin may follow the path of other top digital assets in gaining broader financial market access.

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