Dogecoin ETF Likely to Debut in U.S. Markets Under 1940 Act Rules

A first-of-its-kind Dogecoin exchange-traded fund (ETF) is preparing to launch on U.S. markets this Thursday, marking a new milestone in the expansion of crypto-backed financial products. Bloomberg ETF analyst Eric Balchunas flagged the debut of the Rex-Osprey Doge ETF, which will trade under the ticker DOJE.

The ETF is structured under the Investment Company Act of 1940, a regulatory framework that requires diversification and broader governance standards compared to the Securities Act of 1933, which is typically used for commodity-style crypto trusts like Bitcoin ETFs. Supporters argue this setup provides more investor protection and aligns DOJE with traditional stock and bond ETFs.

Still, Dogecoin’s classification as a meme coin raises questions about whether the same pathway could be open to other tokens such as Shiba Inu or Pepe. Unlike those projects, Dogecoin operates under a proof-of-work model similar to Bitcoin, giving it a baseline production cost tied to energy consumption. Analysts note this distinguishes it from proof-of-stake meme coins, which lack the same floor of value and utility.

Institutional adoption remains uncertain, as most portfolios are unlikely to allocate to DOGE in the near term. However, market participants suggest that if Dogecoin’s market cap continues to grow and volatility attracts traders, investor interest could expand.

The launch also arrives at a time when the SEC is reviewing more than 90 crypto ETF applications, including pending proposals for Solana and XRP, with decision deadlines stretching into October. Meanwhile, REX Shares has filed for several other crypto-themed ETFs—ranging from Dogecoin expansions to novelty funds such as Trump and BONK—shortly after SEC Chair Gary Gensler’s departure earlier this year.

As of Tuesday, Dogecoin trades at $0.24, up 1.4% on the day and 11.7% on the week, reflecting renewed attention ahead of its ETF debut.