Exchange Traded Funds provider Rex Shares, in conjunction with Individual Retirement account products issuer Osprey Funds submitted a Dogecoin (DOGE) ETF to US regulators on Wednesday. Bloomberg analysts believe it could be approved as early as next week.
According to Senior ETF analyst Eric Balchunas, the company’s recent prospectus filing could mean regulators may already be preparing to clear the fund.
The REX-Osprey™ DOGE ETF, $DOJE, is coming soon!$DOJE will be the first ETF to deliver investors exposure to the performance of the iconic memecoin, Dogecoin $DOGE.
From REX-Osprey™, the team behind $SSK, the first SOL + Staking ETF.@OspreyFunds
Investing involves risk.… pic.twitter.com/2eVv2hI7cf
— REX Shares (@REXShares) September 3, 2025
Senior ETF analyst predicts DOGE ETF approval will come soon
On Wednesday, Rex Shares and Osprey Funds jointly submitted paperwork for a DOGE ETF to be listed under the ticker $DOJE, which would give investors direct access to the token’s market performance through a regulated investment vehicle.
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
It would be the first US ETF tied exclusively to Dogecoin, a crypto created in 2013 as a joke but now one of the industry’s most recognizable tokens. Rex’s filings also include products linked to the Trump token, XRP, and Bonk. “Doge looks like the first one to go out, but the pros also included on there are Trump, XRP, and Bonk,” Balchunas reckoned.
According to the REX-Osprey Form N-1A, the fund will invest at least 80% of its assets in Dogecoin or financial instruments tied to the token. That includes direct purchases, futures, and swaps that mirror Dogecoin’s performance. The ETF may also allocate part of its portfolio to US Treasuries or cash equivalents to support daily operations.
The filing also reiterated that investment carries risk and that losses are possible. Foreside Fund Services LLC has been named as the distributor.
The approach is almost similar to REX’s Solana staking ETF, which relied on the Investment Company Act of 1940 (known as the 40 Act) to bypass the more restrictive S-1 and 19b-4 filings required for most crypto ETFs.
ETF Store president Nate Geraci said this 40 Act pathway is “a regulatory end-around” for issuers to list faster than the route most applicants tread along.
SEC delays see filings pile up
Several firms have already attempted to secure approval for a Dogecoin ETF through the conventional process. On April 10, 21Shares submitted a proposal, succeeding efforts by Bitwise and Grayscale.
None of those submissions have received clearance yet, as the SEC continues to weigh crypto-related products under its usual regulatory framework. By using the 40 Act structure, Rex and Osprey may leap ahead of competitors still waiting for answers from regulators.
Alongside its Dogecoin filing, Rex has also applied for an ETF that would track the TRUMP token. The structure would include investments in a Cayman Islands-based subsidiary, known as the REX-Osprey TRUMP Portfolio S.P. to hold the underlying assets on behalf of the fund.
Per the TRUMP filing, there could be a 0.25% fee allowance under the fund’s distribution plan, though it notes no such fees are currently charged.
Meanwhile, Cryptopolitan reported last week that Elon Musk’s personal lawyer, Alex Spiro, has been listed as chairman of a Dogecoin digital asset treasury (DAT). The treasury reportedly seeks to raise at least $200 million to invest directly in Dogecoin.
Some investors have already been pitched on the concept, but details on when the DAT might officially launch are unclear.
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