It seems that in the near future, DOGE (Dogecoin) may be迎来 its first ETF. Recently, Rex Shares and Osprey Funds jointly submitted an application for a DOGE ETF to U.S. regulators, and it is likely to receive approval next week. Everyone knows that DOGE was born as a joke in 2013, but it has now become one of the most influential Crypto Assets. If the application is approved, this will be the first ETF in the U.S. market focused on DOGE, providing investors with a regulated investment avenue that allows direct investment in the market performance of DOGE.

The document from Rex Shares also includes products related to Trump token, XRP, and Bonk. ETF expert Eric Balchunas believes that DOGE may be the first to launch. According to the submitted documents, the new fund will invest at least 80% of its assets in DOGE or financial instruments related to DOGE, including direct purchases, futures, and swaps. In addition to DOGE assets, the ETF may also allocate some funds to US Treasury bonds or cash equivalents to support daily operations.

However, the risk certainly still exists, and investments may lead to losses. This application takes the "regulatory shortcut" provided by the Investment Company Act of 1940 (referred to as the 40 Act), which allows for a faster listing compared to the traditional path. This method allows issuers to bypass most of the S-1 and 19b-4 documents that cryptocurrency ETFs are required to follow.

Companies like 21Shares, Bitwise, and Grayscale have previously attempted to submit DOGE ETF through traditional processes, but none have received approval yet. This time, the application chose the 40 Act framework, which may give Rex and Osprey a competitive edge.

In addition to the DOGE ETF, Rex has also applied for an ETF tracking the Trump token. In this structure, a subsidiary will be established in the Cayman Islands, specifically responsible for holding the fund's underlying assets. It is reported that the documents for the Trump token indicate that the fund may charge a 0.25% distribution plan fee, but currently, no such fee is being charged.

On the other hand, according to Cryptopolitan, Elon Musk's personal lawyer Alex Spiro has recently been named the chairman of the DOGE Digital Asset Trust (DAT). This trust plans to raise at least $200 million for direct investment in DOGE. While some investors have already understood this concept, when exactly DAT will officially launch remains unknown. What do you think about this development? Leave a comment to chat! 🌟