The United States is set to launch its first memecoin exchange-traded fund (ETF). In a Tuesday social media post, Balchunas announced that the Rex-Osprey Doge ETF (DOJE) will debut on Thursday.
He noted, “This may be the first US ETF to hold an asset with no inherent utility or purpose.”
The ETF is structured under the Investment Company Act of 1940, distinct from the Securities Act of 1933.
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Dogecoin Price Skyrockets
Dogecoin (DOGE), priced at $0.2599, surged nearly 13% in the past week leading up to the ETF approval, per CoinMarketCap data.
As the “original” memecoin, Dogecoin has traded for over a decade, amassing a $36 billion market cap with a strong investor base. It inspiring numerous other memecoins reflecting crypto culture.
The ETF’s launch underscores growing institutional interest in memecoins, primarily for speculative investment. The earlier launch of spot Bitcoin ETFs in 2024 attracted billions in inflows, marking one of the most successful ETF rollouts ever.
This wave of crypto ETFs aligns with a shift in the SEC’s stance under President Donald Trump, who has expressed support for tokenization as a financial innovation.
The agency has clarified that certain liquid-staking activities are not subject to securities laws, potentially paving the way for further crypto ETF approvals.
