Dogecoin Price Advances Despite Postponed US ETF Launch
Dogecoin (DOGE) experienced a notable price increase of nearly 4% over the past 24 hours, reaching approximately $0.2603, despite the latest delay in launching a US-based exchange-traded fund (ETF) linked to the memecoin. This movement comes amid continued anticipation surrounding the Rex-Osprey DOGE ETF (ticker: DOJE).
ETF Launch Delayed Again
Initially scheduled to debut on September 12 alongside ETFs for Bonk (BONK), XRP, Bitcoin (BTC), and Trump Official (TRUMP), the DOGE ETF launch has been postponed, with Bloomberg senior ETF analyst Eric Balchunas indicating a likely new listing date around the middle of next week, possibly Thursday. The delay was confirmed by the issuing company but no specific reasons have been disclosed.
Regulatory Milestone and ETF Structure
The DOJE ETF recently secured approval under the Investment Company Act of 1940, a regulatory framework typically applied to mutual funds and diversified ETFs. This distinguishes it from Bitcoin ETFs, which have been approved under the Securities Act of 1933, tailored to commodity- and asset-backed products. Notably, the DOGE ETF does not hold Dogecoin directly; instead, it utilizes a Cayman Islands-based subsidiary and derivatives to comply with diversification requirements and restrictions on single-asset concentration under the 1940 Act.
Market Impact and Analyst Perspectives
Balchunas expressed that this ETF is unlikely to significantly influence Dogecoin’s price in the short term, noting that unlike Bitcoin, many DOGE investors already hold the cryptocurrency through exchanges. He anticipates that the introduction of multiple DOGE ETFs, potentially four to five by October or November, could collectively have a more substantial effect on market dynamics.
He also highlighted the unique nature of this ETF, suggesting it may be the first US ETF to hold an asset with no intrinsic utility or purpose, a point that has sparked debate within the crypto community. Critics argue that institutionalizing a memecoin through an ETF may encourage speculative investment, while incurring fees that could be avoided by purchasing DOGE directly.
Growing Institutional Interest in Dogecoin
Beyond ETF developments, institutional engagement with Dogecoin is increasing. CleanCore Solutions, a company specializing in aqueous ozone cleaning systems, recently acquired $130 million worth of DOGE, reaching half of its goal to build a 1 billion DOGE treasury. This follows a $175 million private placement intended to fund further DOGE acquisitions.
Additionally, Thumzup, a media company linked to the Trump family, announced plans to acquire 3,500 Dogecoin mining rigs, underscoring the memecoin’s expanding footprint in institutional portfolios.
FinOracleAI — Market View
Dogecoin’s price appreciation amid the delayed US DOGE ETF launch indicates resilient investor interest despite regulatory uncertainties. The ETF’s unique structure under the Investment Company Act of 1940 sets a precedent but may limit immediate price impact due to its indirect DOGE holdings. Institutional involvement through large-scale purchases and mining investments signals growing confidence in DOGE’s long-term prospects.
Risks include further regulatory delays and skepticism regarding the memecoin’s fundamental value. Market participants should monitor upcoming ETF launches and institutional activity to gauge potential shifts in DOGE’s liquidity and valuation.
Impact: neutral
