$DOGE 10 The launch of the US ETF in October is a transformation or a bad dog
The REX Shares + Osprey Funds in the US launched the first ETF that provides exposure to spot DOGE, code-named DOJE
At the same time, there is also a spot ETF for XRP (XRPR) that is launched
The US Securities and Exchange Commission (SEC) has recently approved some new rules (generic listing standards), which simplify and expedite the listing approval process for spot ETFs, including those for DOGE and XRP
The structure of the DOJE ETF is "mainly holding DOGE or DOGE-related products/ETPs," and may also contain derivatives/indirect exposure to DOGE through overseas ETFs. It is not 100% "purely holding spot DOGE + zero other components"
The fees/expense ratio is not very low (the management fee and structural complexity of the ETF will incur additional costs)
The price of DOGE has seen a short-term increase around the listing of the ETF
Overall, I think the listing of DOJE is an important milestone for DOGE, leaning more towards a "transformation," but it does not mean that DOGE will fundamentally become a stable asset or a "risk-free investment." In other words, this is like a stage of "from Meme to being recognized by some mainstream assets", but there are still many uncertainties.
If I were to describe it, I would say: in the "commonly known speculation circle", it can be seen as a qualitative change: because the existence of this formal ETF allows many people who previously dared not or could not touch DOGE to access it; public opinion/confidence/capital may be significantly boosted as a result
However, in the overall asset class or capital market, it may not yet be considered a true "transformation"—to achieve that step, DOGE still needs to make continuous progress in practical applications, safety, stability, ecological utility, and so on
If I were to give a comparison: if DOGE were likened to a small dog that was once seen as a "joke", then the listing of the ETF is like buying it a license, putting on a collar, and allowing it to participate legally in dog shows. But whether it is a champion dog still depends on whether it can learn to run, obey training, and perform well in competitions
