The first U.S. memecoin ETF, DOJE, launches Thursday under the 1940 Act, as SEC delays decisions on other crypto ETF filings.
DOJE is the first U.S. memecoin ETF, offering regulated Dogecoin exposure via a Cayman Islands subsidiary and trading under the Investment Company Act of 1940; the fund launches Thursday from REX Shares and Osprey Funds while the SEC continues to review nearly 100 other crypto ETF filings.
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DOJE launches under the 1940 Act to provide investor protections while exposing holders to Dogecoin.
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SEC has delayed decisions on Bitwise’s Dogecoin ETF and Grayscale’s Hedera ETF amid a large queue of spot crypto filings.
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Analysts call the listing the start of a “memecoin ETF era”; nearly 100 spot crypto ETF filings remain under review.
Dogecoin ETF DOJE launches under the 1940 Act, offering regulated Dogecoin exposure — read the facts and next steps from COINOTAG.
What is the Dogecoin ETF DOJE?
DOJE is a memecoin exchange-traded fund launched by REX Shares and Osprey Funds that gives investors regulated exposure to Dogecoin through a Cayman Islands subsidiary and trades under the Investment Company Act of 1940. The structure aims to provide investor protections that differ from grantor-trust ETFs.
How does DOJE provide exposure to Dogecoin?
DOJE holds Dogecoin via a Cayman Islands subsidiary, enabling the ETF to operate under the 1940 Act. This approach separates the fund’s U.S. listing vehicle from direct asset custody in a way that aligns with existing regulated fund frameworks.
- Custody structure: The Cayman subsidiary holds Dogecoin on behalf of the ETF.
- Regulatory framework: The ETF is registered under the Investment Company Act of 1940.
- Issuer sponsors: REX Shares and Osprey Funds manage distribution and compliance.
Why did the SEC delay other crypto ETF decisions?
The Securities and Exchange Commission delayed decisions on several spot crypto ETF applications, including Bitwise’s proposed Dogecoin ETF and Grayscale’s spot Hedera ETF, citing the need for extended review. Regulators continue to evaluate market surveillance, custody arrangements, and investor protections across nearly 100 pending spot crypto ETF filings.
What do analysts say about the DOJE launch?
Bloomberg Intelligence analyst Eric Balchunas described the DOJE listing as the start of a “memecoin ETF era,” noting the novelty of a memecoin product approved under the 1940 Act. Industry commentators highlighted debates about Dogecoin’s utility, while supporters pointed to community-driven usage and network effects as evidence of value.
How to evaluate a memecoin ETF before investing?
Assess structure, costs, custody, and regulatory safeguards before considering exposure to a memecoin ETF. Focus on transparent prospectus disclosures and issuer track records.
- Read the prospectus: Confirm custody details, fee schedule, and risk disclosures.
- Check regulatory structure: 1940 Act registration implies different oversight than a grantor-trust vehicle.
- Evaluate issuer reputation: Review REX Shares and Osprey Funds’ histories and governance policies.
- Consider market impact: Estimate liquidity and potential tracking error for Dogecoin exposure.
Frequently Asked Questions
When will DOJE start trading and who sponsors it?
DOJE is slated to launch on Thursday and is sponsored by REX Shares and Osprey Funds, offering Dogecoin exposure via a Cayman Islands subsidiary under the 1940 Act.
Is DOJE regulated differently from prior crypto ETFs?
Yes. DOJE is registered under the Investment Company Act of 1940, which imposes different operational and disclosure requirements than grantor-trust structures used by some prior crypto products.
What filings did the SEC delay recently?
The SEC delayed decisions on Bitwise’s proposed Dogecoin ETF and Grayscale’s spot Hedera ETF, among others, to allow extended review; industry trackers report nearly 100 spot crypto ETF filings remain pending.
Key Takeaways
- First memecoin ETF launched: DOJE offers regulated Dogecoin exposure via a Cayman subsidiary and the 1940 Act.
- Regulatory scrutiny remains high: The SEC delayed several other spot crypto ETF decisions as it reviews surveillance and custody arrangements.
- Investor due diligence required: Prospective buyers should read the prospectus, verify custody, and consider issuer governance before investing.
Conclusion
The DOJE Dogecoin ETF marks a notable development in regulated crypto products, using a 1940 Act structure to deliver memecoin exposure with added disclosure and oversight. Investors should review prospectus details and monitor SEC actions on other spot crypto ETF filings as the market adapts to this new offering. COINOTAG will continue to update coverage as developments occur (published 2025-09-10; updated 2025-09-10).
