Dogecoin (DOGE-USD) may soon cross a new milestone on Wall Street. A Bloomberg analyst says the first Dogecoin ETF could hit the U.S. market as early as next week. This would open another chapter in the meme coin’s unlikely journey from internet joke to mainstream financial product.
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REX Files for Dogecoin ETF Under Special Pathway
ETF issuer REX Shares has filed a prospectus with the U.S. Securities and Exchange Commission, signaling its plan to launch the first Dogecoin exchange-traded fund. Bloomberg analyst Eric Balchunas noted the filing and said the timing suggests an imminent debut.
REX is taking the same regulatory “end-around” it used to launch its Solana staking ETF. Instead of filing under the standard S-1 and 19b-4 forms that many crypto ETFs have struggled with, REX is using the 40 Act route. This shortcut helped them push Solana (SOL-USD) through earlier this year, and they hope the same approach works with Dogecoin.
Dogecoin’s Price Is Very Volatile
The filing came with a warning. REX acknowledged that Dogecoin is a “relatively new innovation” that faces extreme volatility. The coin has surged more than 116% in the past year, yet it is still down more than half from its December 2024 peak of $0.4672. Today, Dogecoin trades around $0.21, showing both the risks and the appeal for traders who thrive on swings.
If the ETF launches, it could draw new investors who prefer the safety of regulated funds over direct token purchases. That kind of institutional channel could give Dogecoin more stability while also inviting larger capital inflows.
Dogecoin’s Mainstream Pull Stays Strong
Dogecoin’s cultural pull continues to play a role in its market story. Billionaire Elon Musk famously called himself the “Dogefather” and even joked about Dogecoin being “a hustle” on Saturday Night Live in 2021. More recently, Musk’s attorney Alex Spiro was reported to be helping a public company raise $200 million to back Dogecoin.
This kind of mainstream attention has helped Dogecoin stay visible, even during bear markets. An ETF would add another layer of legitimacy, making the coin accessible to retirement accounts and traditional brokerage platforms.
For investors, the launch of a Dogecoin ETF could mark a huge moment. ETFs have already helped Bitcoin and Ethereum attract billions in institutional inflows. If Dogecoin follows suit, it could shift from a meme-driven asset into a more permanent fixture of the crypto world.
But the risks remain. Dogecoin’s volatility and lack of a clear use case beyond community hype still pose hurdles.
At the time of writing, Dogecoin is sitting at $0.2171.
