{"id":45841,"date":"2025-09-05T01:32:37","date_gmt":"2025-09-05T01:32:37","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=45841"},"modified":"2025-09-05T01:32:37","modified_gmt":"2025-09-05T01:32:37","slug":"first-dogecoin-etf-coming-soon-rex-osprey-teases-us-launch","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=45841","title":{"rendered":"First Dogecoin ETF \u2018Coming Soon\u2019: REX-Osprey Teases US Launch"},"content":{"rendered":"
\n

REX Shares says it\u2019s preparing to list what it calls the first US Dogecoin ETF, teasing the product on X even as multiple spot DOGE ETF applications remain pending at the Securities and Exchange Commission. Via X, REX Shares wrote <\/a>on Wednesday: \u201cThe REX-Osprey\"\u2122\" DOGE ETF, DOJE, is coming soon! DOJE will be the first ETF to deliver investors exposure to the performance of the iconic memecoin, Dogecoin. From REX-Osprey\"\u2122\", the team behind $SSK, the first SOL + Staking ETF.\u201d<\/p>\n

The product traces back to a January 21, 2025 SEC filing for a suite of crypto funds under the ETF Opportunities Trust, which included a REX-Osprey DOGE ETF alongside BTC, ETH, SOL, XRP, BONK and TRUMP-token funds. In that registration, the DOGE fund\u2019s mandate is explicit: it \u201cseeks investment results, before fees and expenses, that correspond to the performance of Dogecoin.\u201d<\/p>\n

Can REX-Osprey Launch Their Dogecoin ETF First?<\/h2>\n

The apparent paradox\u2014how REX can \u201claunch\u201d a DOGE ETF while spot Dogecoin ETPs are still in the SEC queue\u2014comes down to structure. Most DOGE proposals on file are commodity-based grantor trusts or similar vehicles that require an exchange rule change under the Securities Exchange Act (a so-called 19b-4) before they can list.<\/p>\n

Bitwise, for example<\/a>, filed to list a Dogecoin ETF on NYSE Arca through that pathway, and Nasdaq has a pending proposal to list the 21Shares<\/a> Dogecoin ETF. By contrast, REX\u2019s DOGE product sits inside a 1940-Act open-end ETF trust, which registers under the Investment Company Act via a post-effective amendment (Form 485(a)) and, if the registration goes effective and an exchange accepts the listing under its generic ETF standards, can come to market without waiting on a bespoke 19b-4 order.<\/p>\n

That is the same playbook REX and Osprey used to bring their Solana + Staking ETF to market in July. Basically, the structure is similar to how futures ETFs work.<\/p>\n

The January prospectus also explains how exposure works. The DOGE fund will invest \u201cat least 80%\u201d of assets in Dogecoin or instruments providing DOGE exposure and may use \u201cderivatives,\u201d including futures and swaps. Like REX-Osprey\u2019s other single-coin funds, it relies on a wholly owned Cayman subsidiary\u2014the \u201cREX-Osprey DOGE (Cayman) Portfolio S.P.\u201d\u2014to hold certain positions; the parent ETF\u2019s investment in that sub is capped at 25% of total assets to preserve regulated investment company (RIC) tax treatment.<\/p>\n

In plain terms, it\u2019s a \u201840-Act ETF that aims to mirror DOGE\u2019s price, using a mix of direct exposure (including via the Cayman sub) and, where available, derivatives.<\/p>\n

Meanwhile, the \u201ctraditional\u201d spot DOGE race is active but unresolved. NYSE Arca\u2019s filing for a Bitwise Dogecoin ETF and Nasdaq\u2019s proposal for a 21Shares Dogecoin ETF are both on the public docket, and Grayscale submitted an S-1 to list a Dogecoin fund in mid-August. Those products would be commodity ETPs requiring an exchange rule change before trading can begin\u2014hence the longer timeline.<\/p>\n

Notably, there is also a clear precedent for REX finding a regulatory niche: on July 2, 2025, the REX-Osprey Solana + Staking ETF (ticker SSK)<\/a> listed on Cboe as a \u201840-Act fund that passes through native staking rewards to shareholders. Cboe\u2019s own listing page describes it succinctly: the fund seeks the performance of Solana \u201cplus staking rewards associated with the Reference Asset.\u201d<\/p>\n

REX\u2019s release heralded it as \u201cthe first US-listed ETF to give investors exposure to Solana\u2026 plus staking rewards\u201d in brokerage accounts. That was possible because the assets and mechanics fit within a \u201840-Act ETF framework augmented by a Cayman subsidiary and\u2014in SSK\u2019s early months\u2014a C-corp tax wrapper that has since been converted to RIC status.<\/p>\n

The parallels\u2014up to a point\u2014are real. REX is again using the \u201840-Act ETF chassis, the ETF Opportunities Trust umbrella and Cayman subs to pursue single-coin exposure without waiting for a new 19b-4 approval. But an important difference is technical and conclusive: Dogecoin is a proof-of-work cryptocurrency (merged-mined with Litecoin), so there is no native staking yield to pass through.<\/p>\n

As for timing and status, REX\u2019s X post is a teaser, not a notice of effectiveness. The January 21 filing <\/a>is a subject-to-completion prospectus; the SEC must allow the registration to go effective, and an exchange must accept the listing.<\/p>\n

Separately, the SEC is also weighing \u201cgeneric\u201d listing standards for commodity- and crypto-based ETPs\u2014rules that, if adopted, could streamline new crypto listings generally\u2014though those proposals are independent of REX\u2019s \u201840-Act path. In short, REX can plausibly be first precisely because it isn\u2019t waiting on a DOGE-specific 19b-4 approval, but the fund still needs its registration to clear and a listing venue to post a trading date.<\/p>\n

At press time, DOGE traded at $0.2165.<\/p>\n

\"Dogecoin<\/div>\n","protected":false},"excerpt":{"rendered":"

REX Shares says it\u2019s preparing to list what it calls the first US Dogecoin ETF, teasing the product on X even as multiple spot DOGE ETF applications remain pending at the Securities and Exchange Commission. Via X, REX Shares wrote on Wednesday: \u201cThe REX-Osprey DOGE ETF, DOJE, is coming soon! DOJE will be the first […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-45841","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/45841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=45841"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/45841\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}