The United States is expected to see the launch of its first ETF based on memecoins on Thursday, marking a significant step in the regulation of cryptocurrency products.
Launch of the Rex-Osprey Doge ETF
The Rex-Osprey Doge ETF (tDOJE) is set to begin its operations. This ETF will be the first in the US to manage assets that lack utility or purpose.
Analyst Comments
Bloomberg ETF analyst Eric Balchunas shared insights about the upcoming launch via a social media post, stating: "Pretty sure this is the first-ever US ETF to hold something that has no utility or purpose." CITE_W_A
Regulation of Crypto Products
The launch of the ETF is taking place under the Investment Company Act of 1940, representing a different legal framework compared to the Securities Act of 1933.
The emergence of the first memecoin ETF in the US signals an expansion of investment opportunities in cryptocurrency assets and a growing interest in regulated products on the crypto market.
