Bloomberg analyst named the launch date of the spot Dogecoin ETF in the USA.

The first spot Dogecoin ETF under the ticker DOJE will appear in the USA on September 11. This was reported by Bloomberg analyst Eric Balchunas.

"DOJE will be the first of its kind American exchange-traded fund based on an asset that initially has no value," he wrote.

The issuer of the Dogecoin ETF is REX Shares, a company that previously introduced a Solana-based instrument with staking features under the ticker SSK. The firm hinted at the possibility of launching a meme-coin focused fund as early as September 3.
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Dogecoin-ETF is not a classic SEC-approved exchange-traded fund. The product is registered as a mutual fund under the Investment Company Act of 1940.

As DL News writes, this law is a regulatory loophole that allows bypassing certain approval requirements from the regulator. Such a scheme enables trading to commence immediately but imposes significant restrictions on marketing activities.

A positive decision on the Securities Act of 1933 is harder to obtain, but it opens up opportunities for the widespread distribution of the product. This is the path taken by spot Bitcoin ETFs, which have attracted $114 billion since their approval.
The CEO of DogeOS, Jordan Jefferson, called the launch of the tool a turning point for the industry.

"Dogecoin was born as a joke, but Wall Street has finally recognized its power. The approval of the ETF confirms: institutional investors see value in the community, culture, and accessibility. When pension funds invest in an asset with ironic origins — this is a landmark moment in financial history," he noted.

According to him, the influx of institutional capital will bring new liquidity and stability to the meme coin market.

At the same time, the SEC postponed its decision on Bitwise's application to launch a similar ETF. The regulator stated that it needed a "longer period" to review the document.

As of the time of writing, Dogecoin is trading at $0.24. Over the last 24 hours, the price of the meme coin has decreased by 0.3%, while it has increased by more than 11% over the week.

"Representatives of the Doge community, as they call themselves, Doge-ers, objected to my comment about the 'lack of utility'. But this coin was literally created by two guys as a joke. So what is its practical value?" - he wrote.

As of the end of August, there were 92 applications for the launch of crypto ETFs under consideration by the SEC.