Dogecoin Surges 7% as Spot ETF Nears Possible U.S. Debut

Dogecoin (DOGE) rallied 7% over the past 24 hours as optimism grew around the potential launch of a U.S.-listed spot exchange-traded fund (ETF) tied to the popular memecoin.

The Rex-Osprey DOGE ETF, expected to trade under the ticker $DOJE, could make its debut this week, according to ETF Store president Nate Geraci. The fund would be the first in the U.S. to provide direct exposure to Dogecoin’s price movements, giving investors a regulated vehicle to trade the highly volatile asset.

The ETF is a joint effort between REX Shares and Osprey Funds, the firms behind the Solana staking ETF ($SSK) introduced earlier this year. Distribution will be handled by Foreside Fund Services LLC.

If approved, $DOJE would extend the growing lineup of crypto-linked ETFs following the 2024 launch of spot bitcoin and ether funds. Issuers have been racing to introduce products tied to alternative digital assets and strategies, with DOGE’s status as a cultural phenomenon — boosted by Elon Musk’s public endorsements and social media buzz — making it a natural candidate for a retail-focused ETF.

Market watchers are preparing for heightened volatility around the rollout. “Think we’re in for a wild next 2 months for crypto ETFs,” Geraci said on X, noting DOGE could attract speculative flows similar to earlier spot products.

At press time, DOGE was trading at $0.23, up 7% on the day and 15% over the past week, outperforming major tokens such as bitcoin and ether.

This would not be the only memecoin ETF proposal in the pipeline. On August 26, Canary Capital Group filed with the SEC to launch a spot fund tracking TRUMP Coin, a Solana-based token linked to former President Donald Trump.

Traders now await to see whether new listings like $DOJE or TRUMP Coin ETFs will bring institutional inflows into the memecoin sector — or if activity will remain concentrated in existing crypto exchange markets.