The first Dogecoin ETF is about to launch in the U.S.

The first ETF fund based on Dogecoin ($DOGE ) may be deployed in the United States as early as next week, according to Bloomberg analyst Eric Balchunas. REX Shares has filed a valid prospectus with the U.S. Securities and Exchange Commission (SEC), paving the way for the product launch.

While most cryptocurrency ETF funds have to wait for approval under Form S-1 and Form 19b-4 filings, REX chose a different approach: using a fund under the 40 Act. This was also the method the company previously applied to launch the Solana staking ETF, seen as a 'shortcut' in the legal process.

The prospectus from REX notes that Dogecoin is still young, highly volatile, and carries significant risks, with a market that is easily changeable and unpredictable.

The Dogecoin ETF race heats up

REX is not the only name targeting DOGE. 21Shares, Bitwise, and Grayscale have all submitted Dogecoin ETF applications but are still awaiting a decision from the SEC. However, with its own direction, REX could be the first entity to bring a DOGE ETF to the US market.

Besides Dogecoin, REX has also filed for an ETF tracking the Official Trump token (TRUMP) through a foreign company that holds this token.

Dogecoin: from meme coin to Wall Street

In the past 12 months, DOGE has increased by over 116%, reaching $0.2161, but is still 54% lower than the peak of $0.4672 in December 2024.

The appeal of Dogecoin partly comes from Elon Musk, who has publicly supported it multiple times, even calling himself the 'Dogefather.' Recently, Musk's lawyer – Alex Spiro – is also said to be leading a company raising $200 million to invest in DOGE.

👉 If REX successfully launches, the Dogecoin ETF will mark an important milestone, bringing this famous 'meme coin' closer to the traditional financial market.