tl;dr
The first U.S. Dogecoin ETF, REX-Osprey Doge (DOJE), debuted with $5.8 million in trading volume within its first hour, far exceeding expectations. Bloomberg analyst Eric Balchunas called the result a "total demolition" of projections. The ETF, registered under the 1940 Investment Company Act, attra...
**Dogecoin ETF Makes Bold Debut, Shattering Expectations**
The first U.S. exchange-traded fund (ETF) tied to Dogecoin, the meme coin that once mocked traditional finance, launched with a bang. On its debut day, the REX-Osprey Doge ETF (ticker: DOJE) recorded a staggering $5.8 million in trading volume within its first hour—a stark contrast to the meager $1 million typically seen by new ETFs. Bloomberg analyst Eric Balchunas, who bet the launch would hit $2.5 million, called the result a “total demolition” of expectations.
The surge underscores growing retail enthusiasm for crypto-linked products, even as regulators remain cautious. Unlike earlier Bitcoin ETFs that relied on the 1933 Securities Act, DOJE was registered under the 1940 Investment Company Act, a framework some feared might deter investors. Instead, the ETF’s opening session suggested a different story: a flood of retail interest, fueled by Dogecoin’s cult-like following and the broader crypto hype.
Dogecoin itself rose 4.45% to $0.281 after a volatile morning, reflecting the ETF’s positive momentum. But the real spectacle lies in the broader crypto ETF arms race. REX Shares, the fund provider, quickly followed up by filing for a “DOJE Growth and Income ETF,” while Tidal Financial partnered with Quantify Chaos to debut leveraged crypto index ETFs. These new products aim to capitalize on “alt seasons,” when smaller cryptocurrencies outperform Bitcoin and Ethereum—a strategy that could attract both crypto diehards and traditional investors seeking high-risk, high-reward bets.
Wall Street’s push into crypto remains relentless, despite recent market swings. The DOJE launch marks a turning point: a regulated, retail-friendly vehicle for a once-ludicrous asset. Yet questions linger. Can this momentum last? The ETF’s early success has certainly grabbed attention, but the crypto market’s volatility means even the most promising products face hurdles. For now, though, Dogecoin’s ETF has proven that meme coins can have a place on the stock exchange—and that Wall Street is willing to bet big on the unexpected.
What do you think? Will Dogecoin’s ETF be a long-term winner, or just another crypto flash in the pan?