Dogecoin News Today: Regulators Fast-Track Dogecoin ETF via Unconventional Route

Dogecoin, the meme-inspired cryptocurrency, is drawing renewed institutional interest as the first U.S.-listed Dogecoin exchange-traded fund (ETF) may launch as early as next week. Bloomberg analyst Eric Balchunas noted that REX Shares, a prominent ETF issuer, is pursuing a regulatory route similar to the one it used for its Solana staking ETF. This approach involves filing under the 40 Act, bypassing the more conventional S-1 and 19b-4 forms typically used by other crypto ETFs [1]. REX Shares has submitted an effective prospectus to the U.S. Securities and Exchange Commission (SEC), signaling an imminent launch [1].

The prospectus highlights inherent risks associated with Dogecoin, noting that DOGE is a “relatively new innovation” subject to “rapid price swings, changes, and uncertainty” [1]. This aligns with the volatile nature of the asset, which has surged 116.67% over the past year but has since fallen 54% from its 2024 peak of $0.4672 to $0.2129 at the time of reporting [1]. Despite these fluctuations, Dogecoin remains one of the most recognizable cryptocurrencies in mainstream media, largely due to high-profile endorsements from figures like Elon Musk.

Musk, who has publicly referred to himself as the “Dogefather,” has played a pivotal role in Dogecoin’s rise in popularity. His ongoing association with the coin includes recent developments such as his attorney, Alex Spiro, reportedly leading a public company seeking to raise $200 million for Dogecoin investment [1]. This continued visibility has helped maintain Dogecoin’s relevance in the broader crypto conversation, even as it remains a speculative asset with no intrinsic value.

The regulatory landscape for crypto ETFs remains fluid, with traditional ETF applications from issuers like 21Shares, Bitwise, and Grayscale still pending with the SEC [1]. In contrast, REX’s 40 Act strategy has enabled a faster approval process. This regulatory flexibility also extends to other tokens, as REX has similarly filed for an ETF tracking OFFICIAL TRUMP (TRUMP) through an offshore structure [1].

While the potential launch of a Dogecoin ETF marks a milestone for the asset’s institutional acceptance, it also raises questions about broader market implications. Analysts have not yet forecast a specific price target for DOGE in the context of the ETF launch, but the increased exposure could attract more retail and institutional investors to the token. Given Dogecoin’s historical volatility, however, such a move may not necessarily guarantee a stable or sustained price increase.

Source: [1] Dogecoin may see first-ever ETF launch next week: Analyst (https://cointelegraph.com/news/dogecoin-etf-united-states-launch-next-week-analyst)