Dogecoin bulls have lengthy awaited an exchange-traded fund within the U.S. that tracks the token’s risky value actions, and it may very well be as quickly as this week.
The Rex-Osprey DOGE ETF, tickered $DOJE, seems prone to launch this week, in line with ETF Retailer president Nate Geraci. The product would supply traders direct publicity to the efficiency of the memecoin, making it the primary of its variety within the U.S. market.
The ETF is backed by REX Shares and Osprey Funds, the companies behind $SSK, a Solana staking ETF that went dwell earlier this yr. $DOJE is being distributed by Foreside Fund Providers LLC.
The transfer would prolong a run of crypto-linked ETFs following the approvals of spot bitcoin and ether merchandise in 2024, and comes as issuers race to roll out novel choices tied to different tokens and techniques. DOGE’s profile as a “cultural” asset, lengthy fueled by Elon Musk’s references and social media presence, makes it a pure candidate for a retail-facing ETF product.
Market members count on heightened volatility round launch. “Assume we’re in for a wild subsequent 2 months for crypto ETFs,” Geraci stated on X, signaling that DOGE might pull in speculative flows just like different spot merchandise.
DOGE final traded at round 23 cents, up 7% previously day and practically 15% on the week, outperforming bigger tokens comparable to bitcoin and ether.
Additionally, this is not the primary memecoin-related ETF to be proposed for the U.S. market. On Aug. 26, Canary Capital Group filed with the SEC to launch a spot ETF that will maintain the TRUMP Coin, a Solana-based token linked to President Donald Trump.
Merchants will monitor whether or not a DOGE (or TRUMP) ETF itemizing attracts new demand into the memecoin sector or whether or not volumes stay concentrated in present trade markets.
