- REX Shares will launch the first US Dogecoin ETF on September 11 under the ticker DOJE.
- The ETF uses a 1940 Act structure instead of traditional SEC approval.
The first US Dogecoin exchange-traded fund (DOGE) is set to launch on September 11, marking a breakthrough in memecoin investing. The product, trading under ticker DOJE, is the first step in REX Shares’ expanding institutional accessibility to the popular cryptocurrency that began as an internet joke.
The ETF was approved under the 1940 Act and had a Cayman subsidiary structure that eliminated the traditional ETF delays. The regulatory route contrasts with the traditional route of Securities and Exchange Commission approval, followed by spot Bitcoin ETFs. The alternative structure enables immediate trading but limits marketing capabilities.
Bloomberg analyst Eric Balchunas observed that this is a one-of-a-kind financial product. “DOJE will be the first-of-its-kind American exchange-traded fund based on an asset that initially has no value”, he noted.
Meme coin ETF era about to kick off it looks like with $DOJE slated for a Thursday launch, albeit under the 40 Act a la $SSK. There's a big group of '33 Act-ers waiting for SEC approval still. Pretty sure this is first-ever US ETF to hold something that has no utility on purpose pic.twitter.com/BIcpu1zR4o
— Eric Balchunas (@EricBalchunas) September 9, 2025
Regulatory Structure and Market Access
The Dogecoin ETF is a mutual fund governed by the Investment Company Act of 1940 instead of being a standard SEC-registered exchange-traded fund. It will be a regulatory workaround to avoid some approval requirements that this type of registration provides.
More rigorous regulatory scrutiny is done when it comes to the traditional ETF approval through the Securities Act of 1933. Nevertheless, this traditional avenue gives a wider distribution opportunity. Spot Bitcoin ETFs took this route, and since approval, these funds have amassed assets of up to $114 billion.
The SEC has delayed its ruling on the application by Bitwise for a similar Dogecoin ETF product. The regulator stated that it needs more time to review the filing. By the end of August, 92 applications for cryptocurrency ETFs are still awaiting approval by the commission.
REX Shares recently released a Solana-based staking-enabled product under the ticker REXS. The company had already indicated its interest in memecoin-based investment products as early as September 3.
The REX-Osprey™ DOGE ETF, $DOJE, is coming soon!$DOJE will be the first ETF to deliver investors exposure to the performance of the iconic memecoin, Dogecoin $DOGE.
From REX-Osprey™, the team behind $SSK, the first SOL + Staking ETF.@OspreyFunds
Investing involves risk.… pic.twitter.com/2eVv2hI7cf
— REX Shares (@REXShares) September 3, 2025
Industry Impact and Market Response
According to a statement given by DogeOS CEO Jordan Jefferson, the launch was described as a watershed moment for the cryptocurrency industry. He stressed the importance of institutional recognition for an asset with comedic origins. “Dogecoin was born as a joke, but Wall Street has finally recognized its power,” Jefferson observed.
The executive claims that community-driven digital assets are institutional interests that are served through ETF approval. He forecasted that pension fund investments in memecoins will be remembered in financial history. Jefferson hopes that the institutional capital flows will improve liquidity and stability in the memecoin market.
Dogecoin trades at approximately $0.2411 at the time of writing. The cryptocurrency increased by 0.13% over the past 24 hours.
