U.S. Approves First Dogecoin ETF
The Rex-Osprey Doge ETF (DOJE) will launch in the U.S. this Thursday, marking the first memecoin ETF in the country.
Eric Balchunas, an ETF analyst at Bloomberg, confirmed the debut via social media on Tuesday, highlighting a historic milestone.
“An ETF that holds something that does nothing and has no utility,” said Balchunas about Dogecoin.
Dogecoin Price Surges Ahead of ETF Launch
According to CoinMarketCap, news of the ETF sparked fresh excitement for Dogecoin (DOGE), which surged nearly 13% over the past week.
Since its launch in 2013, Dogecoin went from a joke cryptocurrency to a serious digital asset. Its market capitalization now stands around $36 billion, retaining its title as the original “king of memecoins.”
This ETF launch reflects Dogecoin’s transformation from an internet meme to a regulated financial asset.
Also Read : Metaplanet Receives Shareholder Approval to Raise $3.7 Billion for Bitcoin Acquisition
ETF Structure and Regulatory Framework
Unlike spot Bitcoin ETFs approved earlier this year under the Securities Act of 1933, the Dogecoin ETF is launched under the Investment Company Act of 1940.
Analysts argue that this framework provides a more adaptable route for volatile digital assets like DOGE.
SEC Embraces Broader Crypto ETF Expansion
The U.S. Securities and Exchange Commission (SEC) is reviewing dozens of crypto ETFs, including Solana (SOL), XRP, and other memecoins.
According to Bloomberg analyst James Seyffart, there are 92 crypto ETF proposals in the works.
After the successful launch of spot Bitcoin ETFs, which saw billions in inflows in early 2024, this Dogecoin ETF launch is one of the most noteworthy in history. Ether ETFs also paved the way, making memecoin ETFs like DOJE feasible.
Why the Dogecoin ETF Matters
Critics argue that Dogecoin has limited real-world use, but the ETF launch signals that Wall Street is warming to meme-inspired crypto products.
SEC approval indicates a shift from enforcement-only policies under former President Donald Trump to embracing tokenization. Certain liquid staking activities have now been clarified to be outside traditional securities laws.
At present, Dogecoin is proving skeptics wrong with increased adoption and recognition in regulated markets.
