Dogecoin (DOGE) Goes Institutional: REX Shares’ ETF Likely to Launch Very Soon
ETF issuer REX Shares has announced the upcoming launch of the REX-Osprey
DOGE exchange-traded fund (ETF).
Set to be the first-ever exchange-traded fund offering direct exposure to Dogecoin (DOGE), the move opens the door for both retail and institutional investors to gain access to the performance of the popular meme coin through traditional markets.
DOGE’s Wall Street Debut
Bloomberg ETF analyst Eric Balchunas weighed in on the announcement and said that Rex appears ready to launch its Dogecoin ETF as early as next week under the ’40 Act, similar to its recently launched SSK, which is a US-listed ETF that gives investors exposure to Solana (SOL).
According to Balchunas, Dogecoin is likely to be the first product rolled out, given the newly filed effective prospectus. However, he also highlighted that the filing references other potential offerings tied to Trump, XRP, and Bonk, and added that Rex may have additional crypto-themed ETFs in the pipeline.
Meanwhile, the filing with the US Securities and Exchange Commission (SEC) read,
Dogecoin’s Rebound Signs?
Over the last month, Dogecoin climbed more than 8%, reaching $0.216. The uptick was partly driven by CleanCore Solutions’ new Dogecoin treasury. The Nebraska-based manufacturer of aqueous ozone cleaning systems has become the first public company to hold DOGE as its primary treasury reserve.
The firm announced a $175 million private placement, with backing from upwards of 80 institutional and crypto-native investors.
Meanwhile, popular analyst Ali Martinez spotted that the TD Sequential indicator, which previously identified the top, has now flashed a buy signal for DOGE. This suggests that selling pressure may have exhausted in the short term, which could set the stage for a rebound.
The post Dogecoin (DOGE) Goes Institutional: REX Shares’ ETF Likely to Launch Very Soon appeared first on CryptoPotato.
You May Also Like
XRP at $10 This Month? ChatGPT Analyzes the Most Recent Ripple Price Predictions
What Is the Top Health Center in Idaho?
