The first negotiated fundraising fund (ETF) Built around the same room could arrive on the market this week, after several delays and a lot of speculation.
DOGE ETF – Officially called Rex Shares -Osprey DOGECOIN ETF (Doje) – was initially to make his debut last week, alongside a handful of ETF politically on the theme and the crypto. These included funds linked to Bonk XRP, Bitcoin And even a fund on Trump’s theme. But the beginnings of Doje never materialized.
Now, Bloomberg ETF analysts, Eric Balchunas and James Seyffart, believe that Wednesday is the most likely launch date, although they don’t care.
“It is more likely that besides,” said Seyffart. “It looks like the basic case.”
Before the introduction of the FNB, DOGE was among the most efficient in the last month, in advance by 15%, including a decrease of 3.5% in the last 24 Horus.
If it is launched, Doje would mark an important step as the first American ETF to focus on a piece of memes – cryptocurrencies which are generally lacking in utility or a clear economic objective. These include tokens like Dogecoin, Shiba Inu And Bonk, which often increases in popularity thanks to internet culture, celebrity mentions and speculative trade.
Balchunas described Doje’s meaning in a post on X: “Very first American ETF to contain something that has no express use.”
Doje is not an ETF spot. This means that it will not directly hold Doge. Instead, the fund will use a subsidiary based in the Cayman islands to obtain exposure through term contracts and other derivatives. This approach avoids the need for the physical guard of the medal while offering traders a way to bet on its performance in a traditional brokerage account.
The FNB was approved earlier this month under the 1940 investment companies Act, which is generally used for mutual funds and diversified ETFs. This distinguishes it from the Wave of FNB Bitcoin which received green lights under the ACT Securities of 1933, a frame used for products based on products and backed by assets. In short, Doje is structured more as a common investment fund than a raw material trust.
A more direct exhibition could happen soon. Several companies have submitted requests to launch Spot Doge Etf, which would hold the memes piece itself rather than the derivatives. These requests are still under examination by the American Commission for Securities and Exchange (SECOND)Who has become more comfortable with the Crypto ETF since the approval of a Bitcoin product list in early 2024.
The wider cryptography market has shown that investors’ demand can prevail over fundamental criticism. The coins have long attracted skepticism without any underlying value or use cases, but that did not prevent them from drawing billions of speculative capital.
Seyffart said that the ETF market is likely to follow the same path. “There will be a lot of products like this, whether you like it or you need it, they will come to the market,” he said.
He added that many existing financial products are used no deeper objectives than providing a vehicle for short -term bets. “There are a lot of products that are simply used as a short-term game or exchange,” he said. “So, if there is an audience for that in the world of cryptography, I would not be surprised at all if it finds an audience in the world ETF and Tradfi.”
That the Doje ETF opens the door to more money funds – or proves that the concept is viable – may depend on the way the market reacts this week. Be that as it may, it signals a new phase in the merger of Internet culture and traditional finances.
