Memecoin enters mainstream markets with SEC approval of Rex-Osprey Doge ETF
The United States is preparing for the launch of its first Dogecoin exchange-traded fund (ETF), signaling another milestone in the expansion of regulated crypto investment products. The Rex-Osprey Doge ETF (DOJE) has received approval from the Securities and Exchange Commission (SEC) and will officially begin trading on Thursday.
This development follows the successful rollout of Bitcoin and Ether ETFs last year, but it marks the first time a memecoin has entered the ETF market.
Dogecoin (DOGE), which has often been described as the first true memecoin, has seen a notable price rally in anticipation of the launch. The cryptocurrency rose nearly 13% over the past week, trading at around $0.2393, and currently maintains a market capitalization of approximately $36 billion.
“Pretty sure this is the first-ever U.S. ETF to hold something that has no utility or purpose,” commented ETF analyst Eric Balchunas, highlighting both the novelty and controversy surrounding the product.
Unlike Bitcoin and Ether ETFs, which were approved under the Securities Act of 1933, the Dogecoin ETF will operate under the Investment Company Act of 1940. This framework typically applies to funds holding securities and provides a different regulatory pathway for approval. Analysts note that this move demonstrates the regulator’s willingness to broaden access to crypto-related investment tools.
A milestone for memecoins and investors
For more than a decade, Dogecoin has cultivated a strong community and inspired numerous imitators across the digital asset sector. Its transition into a regulated financial product underscores how cryptocurrencies with cultural significance are becoming part of mainstream finance.
“The addition of Dogecoin to the ETF landscape shows that investor demand extends beyond traditional assets,” said one industry observer, pointing to the potential influx of retail and institutional interest.
With the first Dogecoin ETF now live, memecoins are stepping onto the same stage as major cryptocurrencies, offering investors a new — and riskier — way to participate in the digital asset economy.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.