Dogecoin ETF Debuts in the US: DOJE Offers Exposure to DOGE

The first Dogecoin ETF went live in the US yesterday, September 18. It is the REX-Osprey Dogecoin ETF, $DOJE. It exposes investors to the DOGE meme token, which remains one of the top 10 cryptocurrencies in the world.

Dogecoin’s price did pretty well this Thursday. It recovered 12% and the DOJE ETF fueled that recovery. Meme coin enthusiasts look optimistic about DOGE’s future since it became a mainstream asset as the ETF went live.

Dogecoin is the most popular meme coin, which was once considered a joke. It got celebrity backing, performed well, and is drawing institutional interest today. The spot Dogecoin ETF (DOJE) offers investors a regulated way to access the meme coin without directly owning it.

How Did the Dogecoin ETF Get a Swift Approval?

Rex Shares and Osprey Funds formed a strategic partnership to issue ETFs. They already launched the Solana Staking ETF (SSK) in July, and now their Dogecoin ETF and XRP ETF ($XRPR) have debuted in the USA.

Rex Shares-Osprey applied for the DOGE ETF in January 2025. They did not apply Form S-1 and 19b-4 because getting the ETF approval usually takes a long time.

They chose an easier route based on the Investment Company Act of 1940 (called the “40 Act”). It allowed ETF issuers to bypass the time-consuming Securities Act of 1933 process and get approval before competitors, such as Grayscale and Bitwise.

What Does DOJE Dogecoin ETF Launch Mean for Dogecoin?

DOGE ETF launch is a huge milestone for the meme coin. People have often criticized Dogecoin’s supply, utility, and slow development, but it remained the top meme coin.

Elon Musk has repeatedly supported DOGE, but many still considered it a joke. It is not a joke anymore because the DOJE Dogecoin ETF launch offers mainstream legitimacy.

Approving the $DOJE DOGE ETF also puts Dogecoin in the same regulatory bucket as Bitcoin and Ethereum ETFs. It also shows that Wall Street and regulators now treat the top meme coin as an investable digital asset. It would certainly improve conservative investors’ perceptions of meme tokens.

Institutional capital could flow into Dogecoin’s ecosystem, and the DOGE price might soar like never before. Most institutions have maintained distance from Dogecoin before the ETF because it required the meme coin’s custody on exchanges.

The DOJE ETF could now draw hedge funds, asset managers, and retirement accounts. Thus, inflows and liquidity could increase in Dogecoin markets.

Although the ETF launch does not guarantee high trading prices, it makes buying easier for investors. It can increase demand and thus the price could also soar in the coming months.

Has the SEC Approved All Dogecoin ETFs?

The latest Dogecoin news thrilled meme coin enthusiasts, but no, the US SEC did not approve all DOGE ETFs. It has only approved the REX-Osprey Dogecoin ETF $DOJE. The following Dogecoin ETF applications are still under review:

Bitwise applied for this ETF in January 2025. The SEC has acknowledged this application, but has not made any decision. The organization was supposed to decide on June 15, 2025, but it delayed until November 12, 2025.

Grayscale filed Form S-1 for the DOGE ETF in March and later in August to convert its DOGE Trust into a spot ETF. The SEC acknowledged the application and could make the final decision in November 2025.

21Shares also filed an application for DOGE ETF approval via Form S-1. The SEC acknowledged the application in May and started reviewing this specific ETF. As per the latest details, the decision on the 21Shares DOGE ETF could come by January 2026.

How REX-Osprey Dogecoin ETF Performed in Early Trading

The DOJE Dogecoin ETF certainly astonished Eric Balchunas (Bloomberg Senior ETF Analyst) with its Thursday trading session performance.

The analyst initially thought that DOJE’s trading volume could be around $2.5 million. Balchunas tweeted, “my over/under got destroyed in the first hour of trading”. $DOJE was posting around $6 million in volume when the analyst wrote the post on X.

Experts have said that most ETFs trade for less than $1 million on the initial trading day. The DOJE Dogecoin ETF performed exceptionally well and generated first-day volume of $17 million. It shows serious demand among retail and institutional investors.