The REX‑Osprey DOGE ETF (ticker DOJE) is poised to be the first U.S. Dogecoin exchange‑traded fund, filed under the Investment Company Act of 1940 using a Cayman subsidiary to gain DOGE exposure; the prospectus was declared effective by the SEC and the fund may begin trading as early as next week.
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Rex Shares and Osprey filed an SEC prospectus to launch a Dogecoin ETF under the 40 Act.
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The ETF will use a Cayman subsidiary structure, mirroring Rex’s prior Solana staking ETF approach.
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Competing applicants such as Grayscale and Bitwise remain under SEC review; Rex’s 40 Act route could enable faster market entry.
Dogecoin ETF: REX‑Osprey files under 40 Act, using a Cayman subsidiary for DOGE exposure — watch for ticker DOJE; read the prospectus and expected timeline.
What is the REX‑Osprey DOGE ETF and how will it trade?
The REX‑Osprey DOGE ETF is an exchange‑traded fund filed to provide investors with exposure to Dogecoin through a Cayman Islands subsidiary and registered under the Investment Company Act of 1940. The prospectus indicates the fund would trade under the ticker DOJE once listed.
How does the Cayman subsidiary structure work under the 40 Act?
The fund seeks DOGE exposure via the REX‑Osprey DOGE (Cayman) Portfolio S.P., an offshore vehicle holding the cryptocurrency. This structure allows a 40 Act fund to comply with U.S. regulatory constraints while obtaining exposure to assets that may be restricted for domestic holdings.
The prospectus states the subsidiary’s investment strategies and risks are effectively those of the fund. Market participants describe the approach as a practical path for bringing certain crypto assets to a 40 Act ETF vehicle.
Why could Rex move faster than other applicants?
Rex and Osprey used the same Cayman subsidiary method for a prior Solana staking ETF. That precedent, combined with the SEC’s recent operational steps on crypto ETF mechanics, may allow the REX‑Osprey DOGE ETF to list sooner than filings relying solely on traditional registration routes.
Which competitors have Dogecoin filings?
Grayscale and Bitwise have submitted Dogecoin ETF applications using conventional registration pathways; their filings remain under SEC review. The REX‑Osprey prospectus shows an alternate route that industry analysts say may accelerate approval and listing.
What does the prospectus disclose about risks and performance?
The filing emphasizes that the subsidiary’s principal investment strategies and principal risks are those of the fund. Dogecoin’s historical volatility is noted: a 116.67% gain over the past year and a 54% decline from its December 2024 high to $0.2129 at filing.
The prospectus explicitly cautions investors about the unique and substantial risks inherent to Dogecoin, including rapid price swings and regulatory uncertainty.
Market outlook: How does SEC policy affect this filing?
The SEC has recently taken steps viewed as more open toward crypto ETF mechanics, including operational approvals for in‑kind creations and redemptions for crypto ETFs and permitting spot crypto product applications. These shifts are relevant to how quickly a Dogecoin ETF can list and operate.
Comparative snapshot: Who filed and what structures are proposed?
| Applicant | Registration Route | Structure | Status |
|---|---|---|---|
| REX‑Osprey | 40 Act | Cayman subsidiary (REX‑Osprey DOGE (Cayman) Portfolio S.P.) | Prospectus effective; ticker expected DOJE |
| Grayscale | Traditional registration | Domestic vehicle (subject to SEC review) | Under review |
| Bitwise | Traditional registration | Domestic vehicle (subject to SEC review) | Under review |
How will investors evaluate the ETF?
Investors should assess the fund’s fee structure, custody arrangements, tracking methodology, and the subsidiary’s governance. Evaluate historical DOGE volatility and the fund’s disclosures on operations and risks.
Frequently Asked Questions
Is the REX‑Osprey DOGE ETF the first Dogecoin ETF filing?
Rex and Osprey’s prospectus is among the earliest to file a 40 Act ETF using a Cayman subsidiary specifically for Dogecoin exposure; other asset managers have also submitted filings under traditional paths.
What ticker will the fund use?
The prospectus expects the fund to trade under the ticker DOJE, subject to exchange listing confirmation and final procedures.
Key Takeaways
- Regulatory route: The fund uses the 1940 Act with a Cayman subsidiary to access DOGE.
- Competitive landscape: Grayscale and Bitwise remain in SEC review; Rex’s approach may accelerate listing.
- Investor caution: Dogecoin’s volatility and the prospectus’ risk disclosures make suitability and risk tolerance essential considerations.
Conclusion
The REX‑Osprey DOGE ETF filing represents a significant step toward mainstream Dogecoin investment products in the United States. Dogecoin ETF proponents should watch listing developments, review the prospectus disclosures carefully, and consider volatility and regulatory factors before investing. COINOTAG will monitor updates and provide timely reporting.
