Dogecoin News Today: REX Bypasses SEC Hurdles to Fast-Track Dogecoin ETF

REX Shares and Osprey Capital are preparing to launch what they claim will be the first U.S.-listed Dogecoin ETF under a 1940 Act structure, potentially beating other pending applications at the SEC to market [1]. The REX-Osprey DOGE ETF, ticker DOJE, aims to provide investors with exposure to the performance of Dogecoin, a memecoin known for its viral internet origins [1]. The product is part of a broader lineup of cryptocurrency-related funds under the ETF Opportunities Trust, which includes offerings tied to Bitcoin, Ethereum, Solana, XRP, and BONK [1].

The ETF’s structure is key to its potential early launch. Unlike many other Dogecoin ETF proposals, which rely on commodity-based grantor trusts that require a SEC-Exchange Act rule change (19b-4) for listing, REX’s approach uses an open-end 1940 Act ETF trust [1]. This framework allows the product to become market-ready if the registration is approved and accepted by a listing exchange without the need for a specific regulatory order for Dogecoin. The same strategy was successfully employed with the REX-Osprey Solana + Staking ETF (SSK), which debuted in July 2025 and was notable for its inclusion of native staking rewards [1].

The REX-Osprey DOGE ETF plans to allocate at least 80% of its assets to Dogecoin or instruments providing equivalent exposure, with the option to use derivatives such as futures and swaps [1]. To manage tax treatment and regulatory compliance, the fund will utilize a Cayman-based subsidiary to hold certain positions, while the parent ETF’s investment in that subsidiary will be capped at 25% of total assets [1]. This structure mirrors how futures-based ETFs are typically organized and aims to replicate the price of Dogecoin in a regulated format.

Meanwhile, other major players remain in the race for the first Dogecoin ETF. Applications from Bitwise and 21Shares are under review by the SEC, and Grayscale has also filed to list a Dogecoin fund. These products are structured as commodity-based ETPs and require a 19b-4 order before they can begin trading [1]. The regulatory path for these funds is longer and more uncertain, which could give REX an advantage if its registration process moves efficiently. The SEC is also separately considering new “generic” listing rules for crypto ETPs that could streamline future approvals but are not directly relevant to REX’s existing 1940 Act filing [1].

At press time, Dogecoin traded at $0.2165 [1]. While the REX-Osprey DOGE ETF is still awaiting final regulatory clearance, its unique structure provides a clear precedent for rapid market entry compared to other pending applications. If approved, the fund could mark a new phase in the development of crypto ETFs in the U.S., particularly for alternative coins like Dogecoin that do not offer native staking yields [1].

Source: [1] First Dogecoin ETF 'Coming Soon': REX-Osprey Teases ... (https://www.mitrade.com/insights/news/live-news/article-3-1097444-20250905)