The U.S. could soon witness the launch of its first Dogecoin exchange-traded fund (ETF), with a debut expected as early as next week, according to Bloomberg analyst Eric Balchunas.
In a post on X, Balchunas pointed to a new filing by ETF issuer REX Shares, which submitted an effective prospectus with the U.S. Securities and Exchange Commission (SEC). The filing suggests that REX is pursuing a 40 Act pathway for its Dogecoin ETF, the same approach the firm previously used for its Solana staking ETF.
“Looks like Rex is going to launch a Doge ETF via the 40 Act a la $SSK next week,” Balchunas wrote, noting that this alternative route could allow faster approval compared to traditional filings.
Dogecoin’s Market Performance and Risks
In its prospectus, REX warned investors of significant risks tied to Dogecoin, calling it a “relatively new innovation” prone to volatility. The filing highlighted that the market for DOGE is “subject to rapid price swings, changes and uncertainty.”
According to CoinMarketCap, Dogecoin has risen by 116.67% over the past year but remains down 54% from its December 2024 high of $0.4672, currently trading around $0.2129.
REX Uses Regulatory “End-Around”
Unlike most crypto ETFs, which require filing Form S-1 and Form 19b-4, REX Shares is using the 40 Act structure. ETF Store president Nate Geraci previously described this strategy as a “regulatory end-around.”
Several issuers, including 21Shares, Bitwise, and Grayscale, are still awaiting SEC decisions on their applications for traditional Dogecoin ETFs. REX, meanwhile, has also filed for an ETF tied to the Official Trump (TRUMP) token, which would purchase shares in an offshore entity holding the digital asset.
Dogecoin’s Mainstream Spotlight
Dogecoin has long enjoyed mainstream attention, with Elon Musk frequently associating himself with the meme coin. In 2021, Musk famously called Dogecoin “a hustle” during a Saturday Night Live appearance while jokingly referring to himself as the “Dogefather.”
More recently, Musk’s attorney Alex Spiro was reported by Fortune to be chairing a new public company aiming to raise $200 million dedicated to Dogecoin investments.
Conclusion
The potential debut of a Dogecoin ETF represents a major milestone for the cryptocurrency, bridging the gap between meme coin popularity and institutional investment products. If approved, it would be the first ETF of its kind in the U.S., opening new avenues for both retail and institutional investors.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
