Dogecoin ETF on the Horizon: Analysts Predict 93% Approval Chance
The first Dogecoin exchange-traded fund may launch in the US this week, according to Brian Quinlivan of Santiment. The Rex-Osprey DOGE ETF, which would trade under the ticker DOJE, has an estimated 93% chance of being approved, according to the analyst’s thorough report. It may be the first ETF in the US market with a Dogecoin concentration. For meme coins, which have frequently been written off as novelty or speculative assets, Quinlivan says the debut would mark a significant milestone.
Rex-Osprey DOGE ETF Uses “40 Act” to Fast-Track Approval
REX Shares and Osprey Funds collaborated to create the Rex-Osprey Dogecoin ETF. With a product associated with Solana, both companies have experience in the crypto ETF sector. To expedite approval, they are utilizing a regulatory mechanism called the “40 Act.” Compared to the conventional filings used for Bitcoin and Ethereum ETFs, this method is more effective.
When DOJE is operational, investors in the US will be able to use conventional brokerage accounts to get exposure to Dogecoin‘s price fluctuations. The cryptocurrency would not need to be physically held or stored by investors. For people who are hesitant to handle digital materials, this reduces obstacles.
Dogecoin Price Swings Ahead of Potential ETF Approval
In mid-August, when early reports of the ETF emerged, Dogecoin’s price surged. Prices fell as whales sold into the strength, ending the brief advance. Local highs were the result of traders who entered during the first rise. Smaller rallies have been linked to fresh ETF approval talk in recent days, indicating that speculation has resumed.
Quinlivan stated that if the ETF is introduced this week, there may be an increase in demand from institutional and retail traders. But he warned that a lot of the activity is still predicated on speculation rather than verified news. A Dogecoin ETF might be an indication that meme coins are becoming more widely accepted in conventional finance. Quinlivan thinks the clearance might open the door for further products linked to comparable assets.
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