A Dogecoin exchange-traded fund (ETF) could soon be available to US investors, according to Bloomberg ETF analyst Eric Balchunas. He pointed out that the ETF issuer, REX Shares, has filed an effective prospectus with the US Securities and Exchange Commission (SEC).
This suggests that the launch of a Dogecoin ETF could happen as early as next week. If approved, it would be the first ETF directly offering exposure to Dogecoin in the US market.
40 Act ETFs Bypass Regulatory Roadblocks Facing Spot Crypto Funds
REX Shares proposes to issue the Dogecoin ETF in accordance with the Investment Company Act of 1940, the “40 Act.” This structure helps the ETF avoid some of the regulatory challenges that traditional crypto funds face. Unlike spot crypto ETFs which rely on Form S-1 and 19b-4 filings, the 40 Act route is considered a way to avoid delays that have prevented other crypto ETFs from going forward.
Looks like Rex is going to launch a Doge ETF via the 40 Act a la $SSK next week based on below tweet combined w how they just filed an effective prospectus. Doge looks like first one to go out, but the pros also includes on there are Trump, XRP and Bonk so poss those too at some… https://t.co/svyAFLB8Q3
— Eric Balchunas (@EricBalchunas) September 4, 2025
With this new approach, REX hopes to get the Dogecoin ETF out sooner than competitors. The same approach was adopted earlier this year when REX brought its Solana staking ETF to market.
This approach can be called a “regulatory end-around”, as the securities lawyers who think the ETF Store approach works have observed. By taking this approach, REX aims to expedite the launch of the ETF to investors, even though regulatory scrutiny of crypto-related products is still ongoing.
Also Read: Why Solana and Dogecoin ETF Dreams Are Postponed
Dogecoin ETF Could Bring Mainstream Exposure
Dogecoin’s year has been quite impressive, with a gain of 116.67%. However, it has cooled down from a December 2024 peak of $0.4672 to near $0.2129. The cryptocurrency remains strongly culturally relevant, thanks in part to high-profile endorsements, most notably from Tesla CEO Elon Musk.
Musk’s remarks about Dogecoin, including labeling it “a hustle” on Saturday Night Live in 2021, contributed to its growth. More recently, Musk’s attorney Alex Spiro is reported to be the CEO of a $200 million public corporation called Dogecoin Investments.
The popularity of Dogecoin has probably been a part of the reason why REX decided to introduce a Dogecoin ETF, which would bring the meme coin into the mainstream investment class.
If REX’s Dogecoin ETF gets the green light from the SEC, it would be the first Dogecoin ETF in the US that offers direct exposure to it. This would be a major milestone for the cryptocurrency market, as the cultural impact and popularity of Dogecoin could attract a new generation of investors. Other companies, such as 21Shares, Bitwise, and Grayscale, are also awaiting SEC approval for their own Dogecoin ETF applications.
Solana, XRP Lead Crypto ETF Applications
According to Bloomberg Intelligence, the SEC is considering 92 crypto ETF filings as of August. Within these applications, Solana, XRP, and Litecoin have become the most popular altcoins for ETF exposure. The SEC is expected to reach final decisions on several of these filings by October, including those of Solana and XRP, which have several applications in progress.
The surge in the interest for crypto ETFs, especially among altcoins like Solana and XRP, is a clear indication that institutional interest in digital assets is on the rise. Applications have increased from 72 in April to 92 in August. This increase is part of a general trend of increasing capital inflows into the crypto market, with an all-time high of $2.48 billion in inflows in just the past week.
Dogecoin may not be considered a mainstream altcoin, but it remains a target for some investment firms. The sustained curiosity about Dogecoin ETFs, in combination with the emergence of altcoin ETFs, marks a shift in the way investors are considering cryptocurrencies in comparison with conventional investments.
Also Read: SEC Approval Incoming? XRP ETF Odds Soar
Summary
The first Dogecoin ETF could be coming soon to the US. REX Shares submitted a form for approval under the Investment Company Act of 1940, which means it could go live as soon as next week. The ETF would include exposure to Dogecoin, which has been in the news a lot culturally and financially. Several other crypto ETFs are still in the SEC review process, and Dogecoin’s popularity is sustaining investor interest in this innovative investment vehicle.
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FAQs On Dogecoin ETF
What is a Dogecoin ETF?
Basically, a Dogecoin ETF is an exchange-traded fund that follows the price of Dogecoin and gives investors exposure to the cryptocurrency without actually holding it.
When is the Dogecoin ETF coming out in the US?
According to Bloomberg analyst Eric Balchunas, in principle, the Dogecoin ETF could start as soon as next week if it gets SEC approval.
How is Dogecoin ETF different from other crypto ETFs?
Unlike most other crypto ETFs, REX Shares’ Dogecoin ETF is registered as an investment company under the Investment Company Act of 1940, which means it avoids the traditional regulatory barriers associated with ETFs.
Why is Dogecoin so popular?
Dogecoin’s popularity can be attributed to the brand’s strong cultural influence, even beyond the cryptocurrency community, along with endorsements from high-profile figures like Elon Musk.
Are other companies applying for Dogecoin ETFs?
Yes, 21Shares, Bitwise, and Grayscale submitted other proposals for Dogecoin ETFs, but they are still pending SEC decisions.
Glossary of Key Terms
Dogecoin: A digital cryptocurrency that began as a joke but gained popularity because it is a meme and has been endorsed by the likes of Elon Musk.
Exchange-Traded Fund (ETF): An investment vehicle that holds a basket of assets which are traded on stock exchanges.
SEC: A US government agency that regulates the securities industry, which includes ETFs.
Investment Company Act of 1940 – A law which regulates the formation and operation of investment companies, such as mutual funds and ETFs.
40 Act ETF: An ETF that is filed under the Investment Company Act of 1940, making its approval and release from regulatory scrutiny faster than other crypto ETFs.
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