The U.S. could see its first mainstream memecoin exchange-traded fund this week as the Rex‑Osprey DOJE product — marketed as a Dogecoin ETF — is expected to launch under the Investment Company Act of 1940. Bloomberg analyst Eric Balchunas flagged the timing, noting this may be the first U.S. ETF to deliberately hold an asset that has no intended utility beyond speculation and culture.
The fund, distributed by Foreside Fund Services and backed by REX Shares and Osprey Funds, follows the same team that brought the Solana staking ETF SSK to market earlier this year. Traders anticipate increased volatility: DOGE rose about 17% over the past week on expectations of the listing, and short-term price swings are likely as ETFs open to inflows.
Industry figures welcomed the move as a milestone for memecoin adoption. Jordan Jefferson, CEO of DogeOS and MyDoge, said the ETF shows institutional investors recognize the value of community, culture and accessibility — and argued that pension funds buying DOGE mark a unique moment in markets. He also pointed to expanding utility around DogeOS, including apps and games that aim to broaden on‑chain use.
The DOJE structure uses the 1940 Act, while a separate wave of spot-memecoin filings under the Securities Act of 1933 is still pending at the SEC. Canary Capital Group has also filed for a spot ETF tied to TRUMP Coin on Solana, underscoring growing institutional interest in cultural tokens.
Why it matters: the listing represents a wider institutionalization of memecoins and could shift liquidity from centralized exchanges into regulated vehicles — but it does not eliminate risks. Volatility, limited intrinsic utility, and regulatory uncertainty remain, so investors should weigh these factors carefully before taking positions.
Source: CoinDesk. Read the original coverage for full details.