The DOGE ETF: Meme Coins Meet Wall Street

The meme coin world may soon notch a historic milestone. The Rex Shares-Osprey Dogecoin ETF (ticker: DOJE) is preparing for its long-awaited debut in the U.S. If it goes live, DOJE would become the first U.S. exchange-traded fund designed around a meme coin, signaling that even the quirkier corners of crypto are finding a place in traditional finance.

A Delayed Start, but Momentum Builds

Originally slated to roll out alongside a batch of politically themed and altcoin-focused ETFs last week, DOJE’s debut was unexpectedly delayed. While the timing of such ETFs can, at times, be unpredictable and uncertain, anticipation around the launch has already appeared to offer some fuel for Dogecoin’s recent gains, with the token climbing double digits over the past month.

How Exactly Would It Work?

At its core, DOJE isn’t a spot ETF. Instead, it plans to use a subsidiary to gain exposure to Dogecoin through futures and derivatives. This structure allows investors to speculate on DOGE price movements inside familiar brokerage accounts without dealing with wallets, custody, or direct token ownership. Uniquely, the fund was approved under the Investment Company Act of 1940—a framework typically reserved for diversified mutual funds—making its design different from the bitcoin ETFs that were greenlit under commodity rules in early 2024.

Meme Coins Growing Up

While DOJE won’t hold DOGE directly, the market may not be far from spot-based meme coin funds. If DOJE attracts strong inflows, it could set the stage for a future where traditional finance and memecoins are strangers no longer.

Past precedent suggests the effect could be meaningful. Solana’s recent ETF attracted hundreds of millions within weeks, and ProShares’ XRP-linked fund has grown rapidly. If DOJE follows suit, it could reshape the perception of memecoins across more mainstream investors and portfolios.