The crypto markets may be on the verge of witnessing yet another historic moment. According to Bloomberg ETF analyst Eric Balchunas, REX Shares and Osprey Funds are preparing to launch the first-ever Dogecoin ETF (DOJE) as early as next week. If this timeline holds, Dogecoin — the internet’s favorite meme-inspired cryptocurrency — will soon make its official entry into regulated Wall Street investment products, standing alongside Bitcoin and Ethereum ETFs.

From Meme to Market: Why a Dogecoin ETF Matters

Dogecoin began in 2013 as a parody cryptocurrency, inspired by the viral Shiba Inu “Doge” meme. What was once a joke turned into a multi-billion-dollar ecosystem, heavily fueled by online communities, celebrity endorsements (most notably Elon Musk), and its unusual mix of humor and utility. DOGE has been used for tipping, micropayments, and even sponsorships — from NASCAR cars to space missions.

Over the years, Bitcoin ETFs and Ethereum ETFs have secured regulatory approval, while other altcoins remain largely excluded. If the REX-Osprey DOGE ETF makes it to market first, Dogecoin will become the first meme coin with a regulated U.S. ETF — a milestone that not only legitimizes its place in the broader crypto landscape but also signals Wall Street’s willingness to package speculative digital assets for mainstream investors.

How the ETF is Structured: Fast-Tracking via the 1940 Act

Traditionally, ETF issuers must file a 19b-4 form with the SEC, which requires a rule change and lengthy review. This process has stalled dozens of crypto ETF applications in the past.

REX Shares and Osprey Funds, however, have chosen a different path — the Investment Company Act of 1940 framework. This legal structure:

• Bypasses the standard 19b-4 rule change requirement.
• Allows the ETF to launch much faster, once the SEC declares the filing effective.
• Was previously used by REX for its Solana Staking ETF (SSK), which reached the market in record time.

According to filings, the DOJE ETF will:

• Invest at least 80% of assets directly into Dogecoin or derivatives like futures/swaps.
• Use a Cayman Islands subsidiary for up to 25% of its exposure (a tax-compliant strategy commonly seen in commodity ETFs).
• Be listed on a major U.S. exchange under the ticker DOJE.

This structural shortcut is why analysts like Balchunas believe the Dogecoin ETF could launch as early as September 9, 2025.

Bloomberg’s Take: First-Mover Advantage

Eric Balchunas, one of the most trusted ETF analysts, commented:

“Looks like Rex is going to launch a Doge ETF via the 40 Act a la $SSK next week … Doge looks like the first one to go out.”

This suggests Dogecoin may leapfrog other altcoins like Solana, XRP, or even memecoins like Shiba Inu, all of which have ETFs still stuck in regulatory queues. The first-mover advantage could bring massive trading volumes to the DOJE ETF, especially given Dogecoin’s cult-like following.

Broader ETF Landscape: Dogecoin Joins Bitcoin & Ethereum

The ETF race in crypto has accelerated over the past two years:

• Bitcoin Spot ETFs were approved in early 2024 after a decade-long battle, bringing billions in inflows.
• Ethereum Spot ETFs followed in mid-2024, further cementing altcoin legitimacy.
• Solana ETFs emerged in 2025 through the same 1940 Act path.
• Other memecoin ETFs (Shiba Inu, Bonk) and thematic ETFs (Trump Token, XRP) are still awaiting approval.

If Dogecoin beats them all to launch, it would highlight not only its cultural power but also REX-Osprey’s ability to outmaneuver competitors on regulatory timelines.

Market Reactions: Price Impact & Speculation

Historically, ETF launches have influenced crypto prices:

• Bitcoin ETFs caused major inflows and pushed BTC to new all-time highs.
• Solana’s ETF (SSK) boosted SOL trading volume significantly.

For Dogecoin, the DOJE ETF could:

• Increase institutional access: Fund managers and RIAs could allocate DOGE exposure without navigating unregulated exchanges.
• Drive liquidity and price volatility: Increased demand may lift DOGE’s price in the short term, though the memecoin’s speculative nature adds risk.
• Normalize meme-coin investing: Moving DOGE from “internet joke” to “regulated asset” could further embed it in portfolios.

Some analysts caution, however, that the ETF effect may be short-lived, as seen with Ethereum ETFs where inflows plateaued after the initial hype.

Risks & Criticisms

While exciting, the Dogecoin ETF comes with major caveats:

1. Extreme Volatility – Dogecoin is known for massive price swings, often driven by social media trends rather than fundamentals.
2. Speculative Nature – Critics argue DOGE lacks utility beyond hype, making it riskier than Bitcoin or Ethereum.
3. Regulatory Concerns – Some regulators warn that memecoin ETFs may encourage gambling-like behavior in retail investors.
4. Market Saturation – With multiple altcoin ETFs expected soon, investors may spread their bets thin, reducing DOGE’s advantage.

Despite this, supporters see it as part of crypto’s natural evolution, where even joke coins get their turn at institutional adoption.

What’s Next?

• Launch Date: Market chatter suggests September 9, 2025, but SEC confirmation is still pending.
• Ticker Symbol: Expected to trade as DOJE.
• Future Products: REX-Osprey has also filed for ETFs tied to XRP, BONK, TRUMP token, and others.

If all goes according to plan, next week could mark the official Wall Street debut of Dogecoin, changing how investors engage with one of the most unlikely cryptocurrencies of all time.

Quick Snapshot

Final Thoughts

The REX-Osprey DOGE ETF is more than a financial product — it’s a cultural statement. Dogecoin, once dismissed as a meme, is about to be wrapped into a regulated investment vehicle that can sit inside retirement accounts, hedge funds, and institutional portfolios.

For some, this represents validation of crypto’s playful, community-driven spirit. For others, it’s a dangerous escalation of speculative investing in mainstream finance. Either way, Wall Street seems ready to embrace the Doge.