4 hours ago
Dogecoin bulls person agelong awaited an exchange-traded money successful the U.S. that tracks the token’s volatile terms movements, and it could beryllium arsenic soon arsenic this week.
The Rex-Osprey DOGE ETF, tickered $DOJE, appears apt to motorboat this week, according to ETF Store president Nate Geraci. The merchandise would connection investors nonstop vulnerability to the show of the memecoin, making it the archetypal of its benignant successful the U.S. market.
The ETF is backed by REX Shares and Osprey Funds, the firms down $SSK, a Solana staking ETF that went unrecorded earlier this year. $DOJE is being distributed by Foreside Fund Services LLC.
The determination would widen a tally of crypto-linked ETFs pursuing the approvals of spot bitcoin and ether products successful 2024, and comes arsenic issuers contention to rotation retired caller offerings tied to alternate tokens and strategies. DOGE’s illustration arsenic a “cultural” asset, agelong fueled by Elon Musk’s references and societal media presence, makes it a earthy campaigner for a retail-facing ETF product.
Market participants expect heightened volatility astir launch. “Think we’re successful for a chaotic adjacent 2 months for crypto ETFs,” Geraci said connected X, signaling that DOGE could propulsion successful speculative flows akin to different spot products.
DOGE past traded astatine astir 23 cents, up 7% successful the past time and astir 15% connected the week, outperforming larger tokens specified arsenic bitcoin and ether.
Also, this isn't the archetypal memecoin-related ETF to beryllium projected for the U.S. market. On Aug. 26, Canary Capital Group filed with the SEC to motorboat a spot ETF that would clasp the TRUMP Coin, a Solana-based token linked to President Donald Trump.
Traders volition show whether a DOGE (or TRUMP) ETF listing draws caller request into the memecoin assemblage oregon whether volumes stay concentrated successful existing speech markets.
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