ETF Dreams For Dogecoin: Serious Possibility Or Just Hype?

A Dogecoin exchange-traded fund with the ticker DOJE is set to start trading in the US on September 11 ￰1￱ to reports the fund is being launched by REX-Osprey and will provide US investors a regulated way to gain exposure to DOGE without holding the coin ￰2￱ Reading: Altcoins Feel The Pinch As Crypto Market Sentiment Sours Eric Balchunas a senior ETF analyst at Bloomberg

told market watchers that the fund will hold an asset with “no utility on purpose,” and he publicly challenged supporters to point to clear real-world uses for Dogecoin beyond community interest and ￰3￱ Asks Supporters To Show Practical Uses According to Balchunas DOJE will be the first US ETF that openly holds an asset whose backers say lacks practical ￰4￱ pushed the community to list where DOGE is used as more than a token of speculation or ￰5￱ Doge people (what do you call them Doge-rs?) are objecting to my “no utility” ￰6￱ the coin was literally started by two guys as a ￰7￱ what’s the utility? ￰0￱ — Eric Balchunas (@EricBalchunas) September 9

2025 Some in the Dogecoin community pointed to limited payment tests and merchant experiments while others emphasized the coin’s long history of publicity and social ￰8￱ also note the fund is being structured under the Investment Company Act of 1940 instead of the Securities Act of 1933 a choice that has drawn extra ￰9￱ Utility Matters For Investors Investors typically seek ways to value an asset beyond pure ￰10￱ can mean things like payment rails governance roles

or fuel for smart contracts — uses that create sustained ￰11￱ those uses are limited price moves can be driven mainly by headlines and ￰12￱ makes risk evaluation harder for portfolios that require steady predictable ￰13￱ market participants counter that brand recognition liquidity

and culture can still produce buyer interest at least while markets are ￰14￱ Reading: Institutional Adoption Rises: 21X Brings Chainlink Into Europe’s Tokenized Securities Market Less Common Legal Route Based on reports the legal route chosen for DOJE is unusual for a crypto-linked spot ￰15￱ under the 1940 Act instead of the 1933 Act carries different compliance and custody ￰16￱ ETFs have taken this exact path for a memecoin-style asset and observers say they will watch how custody and regulatory reviews play out once trading ￰17￱ and institutions may treat the fund differently because of the structure and the questions raised over ￰18￱ image from Unsplash

chart from TradingView