Dogecoin News Today: Regulators Greenlight Dogecoin’s ETF Leap, Sparking Meme vs. Utility Debate

The first Dogecoin (DOGE) exchange-traded fund (ETF) in the United States is expected to launch as early as next week, according to Bloomberg analyst Eric Balchunas. The ETF will be issued by REX Shares, which has taken a regulatory approach similar to that used for its Solana staking ETF. This method involves filing under the 40 Act, bypassing the traditional S-1 and 19b-4 regulatory routes that other ETF issuers must navigate. REX Shares filed an effective prospectus with the US Securities and Exchange Commission, signaling readiness for the launch. The prospectus includes a disclaimer highlighting the risks associated with DOGE, noting its susceptibility to rapid price fluctuations and market uncertainty [1].

Dogecoin has experienced a 116.67% surge in value over the past year, according to CoinMarketCap, but has since fallen by 54% from its 2024 high of $0.4672 to $0.2129 at the time of the report. REX Shares is also pursuing a 40 Act strategy for another ETF tracking the token associated with former US President Donald Trump, which will be structured to buy shares in an offshore company holding the token [1]. Meanwhile, rival firms such as 21Shares, Bitwise, and Grayscale have also submitted proposals for Dogecoin ETFs, but they are still awaiting regulatory decisions [1].

The potential launch of a Dogecoin ETF represents a significant milestone for the cryptocurrency, which has gained widespread recognition largely due to its association with high-profile figures such as Elon Musk. Musk has frequently referenced Dogecoin in public appearances, including a 2021 appearance on Saturday Night Live, where he humorously referred to himself as the “Dogefather.” Recently, Musk’s attorney Alex Spiro reportedly became involved with a new public company seeking to raise $200 million to invest in Dogecoin, highlighting continued institutional and celebrity interest in the token [1].

In the broader crypto market, Dogecoin ranks ninth in market capitalization, with a current valuation of $1.557 billion. While it has seen a marginal decline of 0.21% in value, it continues to maintain a relatively strong presence in the cryptocurrency ecosystem. The token’s popularity is partly attributed to its long-standing media presence and its appeal as a “meme coin,” although it has faced skepticism from analysts who question its long-term utility and investment potential [2].

Emerging projects like Remittix, however, are shifting the focus away from meme-based cryptocurrencies toward more utility-driven solutions. Remittix, which is currently in its presale phase, has raised over $23 million and has attracted attention for its cross-border payment platform. The project aims to facilitate real-time conversions between crypto and fiat currencies, supporting 40+ cryptocurrencies and 30+ fiat currencies. With a planned wallet launch in Q3, Remittix is positioning itself as a practical solution for global transactions, differentiating itself from speculative assets like Dogecoin [3].

As the crypto market continues to evolve, the potential launch of a Dogecoin ETF underscores the growing institutional interest in meme-based assets. However, the rise of utility-driven projects like Remittix suggests a shift in investor preferences toward real-world applications. While Dogecoin remains a prominent figure in the crypto landscape, its future may depend on how it adapts to changing market dynamics and regulatory developments [4].

Source:

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

[2] Dogecoin Price Chart Today - Live DOGE/USD (https://goldprice.org/cryptocurrency-price/dogecoin-price)

[3] Remittix Has More Potential Than Solana And Ripple In (https://www.mitrade.com/insights/news/live-news/article-3-1085088-20250901)

[4] Will Remittix Become a Top 10 Crypto by 2030? (https://www.taxtmi.com/news?id=29538)