First Dogecoin ETF to launch on Sept 11, Bloomberg analyst says
Bloomberg analyst Eric Balchunas mentioned the primary US exchange-traded fund linked immediately to Dogecoin will debut Thursday, Sept. 11.
In a Sept. 9 update on X, he mentioned Rex-Osprey’s deliberate DOGE ETF (ticker: DOJE) alerts the beginning of what he described because the “memecoin ETF period.”
Balchunas emphasised the fund’s uncommon nature, noting that it might be the primary U.S. ETF designed to maintain an asset “with no utility on function.”
DOJE ETF
This improvement comes barely every week after Rex-Osprey filed for the ETF product with the US Securities and Exchange Commission (SEC).
The fast turnaround might be linked to the truth that DOJE was registered underneath the Investment Company Act of 1940, a technique that hurries up approval in contrast with the standard 19b-4 course of required for spot crypto ETFs.
Under this strategy, the fund is structured as a C-corporation that gives DOGE publicity by way of a Cayman Islands subsidiary.
Notably, the identical framework was used for its Staking Solana Fund (SSK), giving the agency a monitor report of navigating the construction.
However, this setup usually attracts skepticism from some traders who cite considerations about potential double taxation.
Nonetheless, this strategy would permit an issuer to transfer shortly, whereas rivals may stay within the queue as a result of they apply by way of the Securities Act of 1933 route.
DOGE treasury agency
The ETF improvement coincides with a serious company adopting Dogecoin for its digital asset treasury initiative.
On Sept. 8, CleanCore Solutions, Inc., an organization listed on the NYSE American alternate, revealed that it bought 285.4 million DOGE valued at $68 million. This transaction made CleanCore the most important Dogecoin treasury holder to date.
CleanCore mentioned the acquisition is the primary stage in a plan to accumulate one billion DOGE inside 30 days and finally safe 5% of the token’s circulating provide.
The Dogecoin Foundation and its company arm, House of Doge, backed the initiative. Their technique positions DOGE as a digital asset for funds, tokenization initiatives, staking-style merchandise, and cross-border transfers.
To present custody and execution for the brand new treasury, the House of Doge additionally announced a partnership with Bitstamp USA, which now operates underneath Robinhood (NASDAQ: HOOD). Under the settlement, the Official Dogecoin Treasury shall be managed on Bitstamp by Robinhood’s platform.
According to the companions, this setup is meant to strengthen transparency and stability whereas laying the muse for yield-bearing merchandise that might broaden Dogecoin’s function in mainstream finance
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