Dogecoin ETF may launch in US next week: Analyst
According to Bloomberg analyst Eric Balchunas, the first Dogecoin exchange-traded fund could launch in the United States as early as next week.
“How Rex filed an effective prospectus based on the Doge ETF next week at 40 Act a la $SSK,” Balchunas said in an X post on Thursday, as REX Shares filed a prospectus with the US Securities and Exchange Commission.
In its prospectus filing, REX warned that “DOGE is a relatively new innovation and is subject to unique and significant risks. The DOGE market is subject to rapid price volatility, changes and uncertainty.”
Last year, Dogecoin (DOGE) rose by 116.67%, according to CoinMarketCap. However, it is down 54% from its December 2024 high of $0.4672, trading at $0.2129 at press time.
REX is taking a “regulatory end-around” route.
While most crypto ETFs require issuers to file Form S-1 and Form 19b-4 with the SEC, Act 40 funds follow a different path and the same approach REX Shares used to launch the Solana staking ETF.
ETF Store President Nate Geraci has previously described the 40 Act strategy as “the end of regulation.”
ETF issuers pursuing the traditional route are still awaiting decisions from the SEC. On April 10, 21Shares proposed to launch a Dogecoin ETF shortly after similar applications from competitors Bitwise and Grayscale.
Meanwhile, REX has filed for an official TRUMP (TRUMP)-tracking ETF under the 40 Act, which buys shares in an offshore company that owns the token.
Dogecoin has continued to attract major media attention over the years.
Even those who haven't invested in crypto are familiar with Dogecoin, which has garnered mainstream attention for years.
Related: October Bitcoin Bear Market With $50K Bottom Target: Analysis
Billionaire Elon Musk has long been associated with the coin, referring to himself as the “Doge Father” and calling the token “chaotic” on Saturday Live in 2021.
Musk's lawyer, Alex Spiro, was recently reported by Fortune as the chairman of a new public company looking to raise $200 million to invest in Dogecoin.
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