Much like it did earlier this summer with its Solana staking ETF, REX Shares and Osprey Funds could bring the first exchange-traded fund offering direct exposure to Dogecoin to market as soon as next week.
The team filed a prospectus on Wednesday with the U.S. Securities and Exchange Commission for the REX-Osprey DOGE ETF, to trade under the ticker DOJE. The prospectus also mentions ETFs tied to XRP, BONK, TRUMP, as well as BTC, ETH, and SOL.
“Looks like Rex is going to launch a Doge ETF via the 40 Act next week based on below tweet combined w how they just filed an effective prospectus,” Bloomberg Intelligence analyst Eric Balchunas said Thursday in a post on X. “Doge looks like first one to go out, but the [prospectus] also includes on there are Trump, XRP and Bonk so [possible] those too at some point, we’ll see.”
The 40 Act refers to the Investment Company Act of 1940, a U.S. federal law that regulates investment funds that pool capital from investors to pursue a common investment strategy in an effort to protect investors from conflicts of interest and fraud.
“To invest in assets like commodities or derivatives that are restricted under the ’40 Act, an ETF may use a subsidiary in a different jurisdiction (like the Cayman Islands),” according to ETF Trends. “In such cases, the subsidiary is structured to meet the requirements of the ’40 Act, allowing the ETF to gain exposure to these complex assets without violating the direct rules for the parent fund.”
DOJE seeks to gain exposure to the Reference Asset through investments in a subsidiary organized in the Cayman Islands, the REX-Osprey DOGE (Cayman) Portfolio S.P. (i.e., the DOGE Subsidiary), according to the prospectus.
“The principal investment strategies and principal risks of the DOGE Subsidiary constitute principal investment strategies and principal risks of the Fund, and the disclosures of those strategies and risks in this prospectus are designed to reflect the aggregate operations of the Fund and the DOGE Subsidiary,” the filing said.
In June, the REX Osprey SOL Staking ETF began trading thanks to the legal workaround.
So far this year, under Chairman Paul Atkins, the SEC has demonstrated an increased willingness to help the crypto industry grow. In July, the SEC voted to approve orders to allow in-kind creations and redemptions by authorized participants for crypto ETFs. The agency then allowed applications looking to list and trade spot bitcoin and Ethereum ETFs and as well as options on “certain spot bitcoin ETPs.”
Among the more than 90 crypto-related ETF proposals awaiting SEC review, Grayscale and Bitwise are also vying for a Dogecoin ETF.
The price of dogecoin traded down 4.3% to $0.21 at publication time, according to The Block’s DOGE price page. The token has a market capitalization of $32 billion.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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