Dogecoin ETF Might Drop Next Week! 🚀

Rex Shares and Osprey Funds just teamed up. They've filed for a Dogecoin ETF. Might get approved next week. The ETF would use ticker $DOJE, giving folks a way to buy the meme coin through regular markets. Fun stuff! 🐕

Eric Balchunas, who knows ETFs pretty well, thinks regulators are already getting ready to give it the green light. Kind of surprising how fast it's moving. If approved, it'll be America's first pure Dogecoin ETF. Remember when Doge was just a joke back in 2013? Now look at it.

The paperwork shows some interesting details. At least 80% goes into actual Dogecoin or things that track it. The rest? Treasury bonds and cash. Boring but necessary. Foreside Fund Services is handling distribution.

What's really clever about this filing is the regulatory approach 🧠 They're using the old 1940 Investment Company Act. It seems this creates a shortcut. Nate Geraci from ETF Store called it "a regulatory end-around." Smart move.

Other companies tried the traditional route. 21Shares. Bitwise. Grayscale. No luck so far. Rex and Osprey might just jump ahead of everyone else with this strategy. Pretty slick 🔥

Rex isn't stopping at Doge either. They've also filed for a TRUMP token ETF. That one's got a Cayman Islands subsidiary holding the actual tokens. Interesting structure.

In somewhat related news, Elon's lawyer Alex Spiro is now chairman of some Dogecoin treasury thing. They want $200 million to buy Dogecoin directly. Not entirely clear when it launches, but they're already pitching investors 🌕

Big moment for crypto enthusiasts. Could really shake things up as Wall Street gets easier access to the dog money.