The REX-Osprey Dogecoin ETF (DOJE) is expected to debut on Thursday, potentially becoming the first US ETF centred on a memecoin.
The first Dogecoin exchange-traded fund (ETF) in the US could soon be set to launch, following months of rumours within the industry. The REX-Osprey Dogecoin ETF, trading under the ticker DOJE, is expected to make its debut on Thursday.
It comes after initial delays to its official unveiling, which was originally scheduled for last week. Should it be introduced to the market this week, DOJE would offer futures-based exposure to Dogecoin (DOGE) via a Cayman Islands subsidiary, rather than feature direct ownership of the token.
Through this structure, investors can speculate within a regulated brokerage account, while avoiding the complexities of physical custody. Unlike US spot Bitcoin ETF, DOJE was approved under the Investment Company Act of 1940, meaning it is structurally more similar to a mutual fund.
If successfully launched, DOJE would immediately become the first US ETF centred on a memecoin. Typically conceived through internet culture, celebrity endorsements, and speculative trading, popular memecoins include Dogecoin, Shiba Inu, and Bonk.
The US Securities and Exchange Commission (SEC) has already approved Bitcoin ETFs under the 1933 Securities Act. Various other firms have formally filed applications for spot Dogecoin ETFs, in which the tokens would be held directly, though they remain under review from the SEC.
How could DOJE affect the Dogecoin price?
Market analysts are already beginning to question what the potential impact DOJE ETFs could have on the price of DOGE. One scenario is that institutional demand could fuel a breakout, enabling DOGE to test higher levels and helping it to climb above the $1 mark by 2026. Also, wider accessibility may attract retail investors and offer a boost to trading volumes.
Memecoins tend to react sharply to hype, so DOGE could experience noticeably volatile swings around the launch date. Positive momentum may push it toward resistance, whereas exits could trigger pullbacks. A short-term price surge could take place as traders anticipate new exposure.
Looking further ahead, a regulated Dogecoin ETF undoubtedly provides it with added legitimacy within the traditional financial system. In turn, this could draw institutional attention and support DOGE’s role as a tradable digital asset.
Broader ongoing market interest in Dogecoin
Aside from increased anticipation ahead of the ETF launch, institutional interest in Dogecoin is also on the rise. Earlier this month, CleanCore Solutions purchased 285 million DOGE worth a total of $68 million. The producer of cleaning products plans to acquire one billion DOGE within 30 days, with the aim of securing 5% of circulating supply.
As for price action, DOGE has gained almost 15% over the past month, despite a 3.5% dip over the past 24 hours. DOGE currently trades near $0.27, with resistance at around $0.27 and $0.30. A breakout above these levels could push towards $0.40, although traders warn about potential pullbacks.
Large liquidations have also impacted the market, with over $26 million in positions cleared within 24 hours. Long traders felt the sharpest hit as DOGE briefly slipped 7% to $0.2625 earlier this week.
Now the markets wait patiently to see whether the DOJE ETF launches on Thursday as expected. Investors will be keen to watch the potential impacts it could have on the DOGE price both in the immediate aftermath and long-term.
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