US Dogecoin ETF to Launch Thursday as First-Ever Memecoin Fund
What’s Happening on Thursday?
The United States will view its first-ever memecoin platform-traded fund (ETF) debut on Thursday with the launch of the Rex-Osprey Doge ETF (DOJE). The fund is designed to track Dogecoin, the internet-inspired cryptocurrency that has become a cultural mainstay despite its origins as a joke. Bloomberg ETF analyst Eric Balchunas confirmed the launch on social media, calling it “the first-ever US ETF to hold something that has no utility or purpose.”
The fund is structured under the Investment Company Act of 1940, a diverse regulatory framework than the Securities Act of 1933 typically used for commodity-based grantor trusts such as BTC ETFs. The launch underscores how regulators are experimenting with new categories of crypto-linked financial products.
Investor Takeaway
Why Dogecoin, and Why Now?
Dogecoin, created in 2013, is widely regarded as the first true memecoin. Despite its lack of intrinsic utility, it has sustained a large community and a $36 billion market capitalization. Dogecoin rallied 13% in the past week , reflecting heightened retail and institutional interest.
The launch comes on the heels of successful in 2024. Those funds attracted tens of billions of dollars in inflows, cementing digital assets’ place in mainstream financial markets. For many investors, Dogecoin’s inclusion in an ETF represents recognition that even meme-driven tokens have demand strong enough to support a regulated product.
How This Fits Into the ETF Pipeline
The U.S. Securities and platform Commission (SEC) approved the Rex-Osprey Doge ETF while weighing a flood of other applications. Bloomberg’s James Seyffart reported that 92 crypto ETF proposals are currently in the pipeline, covering assets from Solana to XRP. The memecoin ETF marks the beginning of what analysts expect to be a new wave of approvals.
For context, the first wave of ETFs concentrated on BTC and Ether. BTC ETFs became one of the most successful launches in history, while Ether funds, later than a sluggish begin, have viewn strong inflows in 2025. The memecoin ETF extends this trend, albeit into far more speculative territory.
Investor Takeaway
What’s Next for Crypto ETFs?
The SEC’s evolving approach reflects broader political shifts. Under the Trump administration, regulators have signaled openness to tokenization and clarified that certain liquid-staking activities fall outside securities law. This regulatory thaw has accelerated institutional adoption and created a runway for new products.
Looking forward, , XRP, and other tokens to follow. Whether memecoin ETFs prove more than a novelty will depend on how much capital they attract compared with BTC and Ether funds. For now, Dogecoin’s entry into the ETF arena underscores , even at its most speculative edges.
