Dogecoin ETF Expected to Launch in the U.S. This Week
Dogecoin could soon have an exchange-traded fund (ETF) in the U.S., potentially launching this week. Key details include:
- The Rex-Osprey DOGE ETF, ticker $DOJE, aims to provide direct exposure to Dogecoin's price movements.
- It is backed by REX Shares and Osprey Funds, known for their earlier launch of a Solana staking ETF.
- The ETF is distributed by Foreside Fund Services LLC.
- This development follows recent approvals of spot bitcoin and ether ETFs, signaling increased interest in crypto-linked products.
- DOGE's cultural significance, enhanced by endorsements from figures like Elon Musk, positions it as a strong retail-focused investment option.
- DOGE is currently trading at approximately 23 cents, with a 7% increase over the past day and nearly 15% for the week.
- Market expectations indicate potential volatility surrounding the ETF launch.
- Another memecoin ETF proposal was filed recently for TRUMP Coin, linked to Donald Trump.
Traders will observe how the potential listing of these ETFs affects demand and trading volumes in the memecoin sector.