Dogecoin News Today: Regulators Sidestep with First Dogecoin ETF Strategy

REX Shares and Osprey Funds are poised to potentially launch the first U.S. Dogecoin ETF under the Investment Company Act of 1940, with plans for the REX-Osprey DOGE ETF (ticker: DOJE) set to debut as early as next week. The prospectus for the fund was filed on September 5, 2025, with the U.S. Securities and Exchange Commission (SEC) as part of a broader suite of crypto funds under the ETF Opportunities Trust umbrella. These include offerings related to Bitcoin, Ethereum, Solana, XRP, BONK, and even a token tied to Donald Trump. The DOJE fund explicitly aims to replicate the performance of Dogecoin, with at least 80% of its assets expected to be invested in the cryptocurrency or instruments providing DOGE exposure. The structure of the DOJE fund is distinct from other pending spot Dogecoin ETPs, which are typically commodity-based and require regulatory approval under the Securities Exchange Act. By utilizing a 1940-Act open-end ETF trust, REX can bypass the need for a bespoke rule change and instead rely on a post-effective amendment (Form 485(a)) to register the fund. If approved, DOJE could list without waiting for a 19b-4 order, potentially allowing it to reach the market faster than competing products. The approach mirrors the successful launch of the REX-Osprey Solana + Staking ETF (ticker: SSK), which was listed on Cboe in July 2025 under a similar structure. The DOJE fund will also utilize a wholly owned Cayman subsidiary—the “REX-Osprey DOGE (Cayman) Portfolio S.P.”—to hold certain positions, with the parent ETF’s investment in that subsidiary capped at 25% to maintain tax treatment as a regulated investment company. This structure enables the fund to gain exposure to Dogecoin through direct holdings and derivatives, including futures and swaps. Analysts, including Bloomberg Industry Research’s Eric Balchunas, have noted the potential for REX to be the first to market with a Dogecoin ETF under this regulatory framework. The fund’s filing highlights the broader trend of increased institutional interest in crypto assets, as more firms seek to offer direct exposure to digital currencies through ETF vehicles. The DOJE fund’s structure also reflects the growing complexity of crypto investment products, with a focus on diversification and regulatory compliance. The SEC has been reviewing a separate set of proposals related to “generic” listing standards for commodity- and crypto-based ETPs, which could streamline the approval process for future crypto ETFs. However, these proposals are independent of REX’s 1940-Act approach, and the effectiveness of the DOJE fund still hinges on SEC approval and a listing venue accepting the ETF for trading. At press time, Dogecoin traded at $0.2165. The anticipated launch of the DOJE fund underscores the evolving regulatory landscape for crypto assets in the U.S., as more firms explore alternative structures to bring digital currencies to mainstream investors. The success of this approach will depend on both regulatory acceptance and market demand for exposure to Dogecoin.

Source: [1] First Dogecoin ETF 'Coming Soon': REX-Osprey Teases ... (https://www.mitrade.com/insights/news/live-news/article-3-1097444-20250905) [2] Analyst: REX-Osprey may launch the first Dogecoin ETF as ... (https://www.panewslab.com/en/articles/25735248-0c81-4f10-b2b0-f620a6bd32b9) [3] REX-Osprey is expected to launch the first DOGE spot ETF ... (https://www.odaily.news/en/newsflash/446676)