- REX Shares may launch a Dogecoin ETF under the 1940 Act as soon as next week.
- Although Dogecoin is up 116% year-over-year, it remains well below its December 2024 peak.
- The U.S. SEC is reviewing 92 crypto ETF filings, with decisions expected by October.
The prospect of a Dogecoin exchange-traded fund (ETF) debuting in the United States as early as next week gained momentum after Bloomberg ETF analyst Eric Balchunas pointed to a new regulatory filing.
If confirmed, this would mark the first time a meme-inspired cryptocurrency receives such recognition in U.S. financial markets, representing another step in the gradual institutional acceptance of digital assets.
REX Shares could roll out the first U.S. Dogecoin ETF next week
Balchunas reported that ETF issuer REX Shares filed an effective prospectus with the U.S. Securities and Exchange Commission (SEC) under the Investment Company Act of 1940, commonly known as the 1940 Act.
This alternative structure can offer a faster path to market compared with traditional ETF approval routes that require S-1 and 19b-4 filings.
REX used the same approach earlier this year to launch a Solana staking ETF.
Industry observers, including ETF Store president Nate Geraci, have described the strategy as a “regulatory end-around.”
Although the 1940 Act route avoids some hurdles that spot crypto ETFs face, it still provides investors with a regulated investment vehicle tied to the price movements of the underlying asset.
REX’s move places Dogecoin alongside Solana in breaking through regulatory logjams that have delayed other crypto ETF launches.
In its filing, REX highlighted the risks of Dogecoin exposure, acknowledging the token’s volatility and the unpredictable behavior of its market.
The firm stated that the token is “subject to unique and substantial risks,” and that price swings can be rapid and severe.
Despite that warning, Dogecoin’s cultural appeal and growing popularity continue to draw investor interest.
Over the past year, the price of Dogecoin has risen more than 116%, though it remains below its December 2024 high of $0.4672.
At the time of writing, the token trades near $0.2142, reflecting both volatility and resilience within the broader crypto market.
Elon Musk’s long-standing association with Dogecoin—from calling himself the “Dogefather” to joking about the token on national television—has strengthened its presence beyond crypto circles.
Recently, Musk’s attorney Alex Spiro was linked to efforts to raise $200 million for a company focused on Dogecoin-related investments.
If REX proceeds with the launch, the fund would become the first U.S.-listed ETF offering direct exposure to Dogecoin.
That development would not only bolster the memecoin’s legitimacy among institutional investors but also signal wider acceptance of alternative cryptocurrencies beyond Bitcoin (BTC) and Ethereum (ETH).
U.S. SEC reviews 92 crypto ETF applications
The possibility of a Dogecoin ETF comes as the SEC faces a wave of crypto-related filings.
Bloomberg Intelligence analyst James Seyffart reported that the agency is reviewing 92 filings, up sharply from 72 in April.
Most of these proposals involve altcoins like Solana, XRP, and Litecoin, with final decisions expected by October.
The surge in applications highlights growing institutional appetite for diversified crypto investment products.
Digital asset funds have already shown a robust recovery, with $2.48 billion flowing into such products last week alone.
In August, inflows reached $4.37 billion, bringing year-to-date inflows to $35.5 billion. The momentum suggests that despite regulatory uncertainty, demand for crypto-linked financial instruments remains strong.
The outcome of these filings could reshape the U.S. crypto investment landscape.
If approved, a Dogecoin ETF would expand the menu of regulated products, enabling investors to access an asset that was once dismissed as marginal or purely speculative.
At the same time, it will raise new questions about the risks and sustainability of meme-driven markets, especially as more altcoins seek entry into mainstream financial channels.
For now, all eyes are on the SEC and REX. If the filing moves forward without delay, Dogecoin could soon have its first dedicated U.S. ETF—cementing its evolution from an internet joke to a recognized, tradable financial asset.