Bloomberg analyst Eric Balchunas stated that the first Dogecoin exchange-traded fund (ETF) in the United States is expected to launch as early as next week.
Balchunas posted on the X platform on Thursday, saying, "According to the tweet below and their recently submitted effective prospectus, Rex is expected to launch a Dogecoin ETF under the Investment Company Act of 1940 (40 Act) next week, similar to previous methods." He noted that REX Shares has submitted the relevant application documents to the U.S. Securities and Exchange Commission (SEC).
In the prospectus, REX warned: "DOGE is a relatively new innovation that faces unique and significant risks. The DOGE market is characterized by extreme price volatility and high uncertainty."
According to CoinMarketCap, Dogecoin (DOGE) has risen 116.67% over the past year, but it has fallen 54% from its all-time high of $0.4672 in December 2024, with the current price at $0.2129.
Most cryptocurrency ETFs require issuers to submit S-1 and 19b-4 forms to the SEC, while 40 Act funds take a different path, which is also the method REX Shares used when launching the Solana (SOL) staking ETF.
According to Nate Geraci, president of ETF Store, the 40 Act strategy is a "regulatory workaround."
Meanwhile, ETF issuers using the traditional path are still waiting for the SEC's final decision. On April 10 of this year, 21Shares submitted an application to launch a Dogecoin ETF, and competitors like Bitwise and Grayscale have also submitted similar applications.
At the same time, REX has also applied for an ETF tracking OFFICIAL TRUMP (token code: TRUMP) under the Investment Company Act of 1940. This ETF will purchase equity in offshore companies that hold the token.
Even those who have never invested in cryptocurrency are likely to have heard of Dogecoin. It has consistently attracted mainstream media attention over the years.
Billionaire Elon Musk has long been associated with the coin. He once referred to himself as the "Dogecoin Father" and called it "a hype" during his appearance on Saturday Night Live in 2021.
According to a recent report by Fortune magazine, Musk's lawyer Alex Spiro currently serves as the chairman of a newly listed company. The company plans to raise $200 million to invest in Dogecoin.
Related: Classic Ripple (XRP) price chart patterns point to a $5 target, spot ETF approval imminent
Original article: “Analyst: Dogecoin (DOGE) Expected to Welcome First ETF Next Week”
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