REX Shares has filed for a Dogecoin ETF that might become available to US investors as soon as next week. This marks the first instance of an ETF directly offering exposure to Dogecoin in the US market.
New Dogecoin ETF
According to Bloomberg analyst Eric Balchunas, REX Shares has submitted an effective prospectus for a Dogecoin ETF with the US Securities and Exchange Commission (SEC). If approved, this ETF will be the first in the US allowing investment in Dogecoin.
Advantages of 40 Act ETFs
REX Shares proposes to issue the Dogecoin ETF under the Investment Company Act of 1940, helping circumvent regulatory challenges faced by traditional crypto funds. This new approach is designed to expedite the ETF's market launch.
Dogecoin's Popularity and ETF Future
Dogecoin has shown impressive growth, increasing by 116.67% this year, although its price has dipped from a peak in December 2024. The popularity of Dogecoin, particularly due to endorsements from high-profile figures like Tesla CEO Elon Musk, may boost interest in the ETF, making it more accessible to the general audience.
The launch of the first Dogecoin ETF in the US could signal a new chapter for the cryptocurrency market. If REX Shares receives SEC approval, it will not only reflect interest in Dogecoin but also attract new investors to crypto assets.
