A Dogecoin ETF can quickly make his debut faster than expected. Rex shares circumvent traditional delays by using a less used regulation structure, giving it a possible first-mover benefit.
Summary
- Rex Shares has requested the $ doje Dogecoin ETF using the 1940 ACT structure, which makes a possible launch possible next week.
- Rex’s 1940 ACT structure route bypasses the usual 19B-4 process, giving it a potential first-mover in the Memecoin ETF market.
- The prospectus also mentions other possible ETFs bound to Trump, XRP and Bonk, who signals wider memecoin ambitions.
- In contrast to $ do, other Doge ETF proposals from Grayscale, 21Shares and BitWise remain delayed, pending sec -goods inspection.
ETF -Mittent Rex shares, in collaboration with Osprey Funds, has submitted For the Rex-Esprey ™ Doge ETF, with Ticker $ Doje, which aims to offer direct exposure to Dogecoin (Doge). According to the official announcement of the team, the fund will follow the performance of Doge through a subsidiary in Cayman Islands. If approved, it could be the first Doge ETF that may be on the market by next week.
In his prospectus, Rex acknowledged that Dogecoin is very volatile and warns that Doge is ‘subject to unique and substantial risks’, including competitive price fluctuations and market uncertainty. The step to get $ do to the market, however, first reflects a daring strategic bet on the demand of Memecoin and ETF investors.
Respond to the news, Eric Balchunas, ETF analyst at Bloomberg, said The approval for submitting can be available. “It seems that Rex will launch a doge ETF via the 40 act a la $ SSK … Doge looks like the first to go out,” he wrote.
He noted that the prospectus also includes references to extra ETFs with Memecoin theme, in particular XRP, Trump and Bonk, which suggests that Rex can roll out several products in the coming months that focus on speculative stores. This strategy could give Rex a lead for multiple products in the Infant Memecoin ETF category.
Rex shares takes a shorter route on Doge ETF
What distinguishes this application is Rex’s use of the 1940 Investment Company Act (generally known as the “40 Act”). In contrast to traditional place Crypto ETFs that have been submitted under form S-1 and 19B-4 forms, the 40 ACT offers a faster route to the market, so that many of the regulatory obstacles that have delayed other controversial crypto fund proposals.
The 40 ACT, an American federal law for investment companies, is used for funds that bundle investment capital under a uniform investment strategy. In this case, the REX enables $ do to structure as a 40 act ETF, which avoids the long-term back and forth approach of the SEC that has left more than 72 crypto-etf’s in anticipation of approval.
Bloomberg analyst James Seyffart too explained That these ETFs are structured as C-Corps and do not go through the 19B-4 process, which is usually required for cryptofonds who follow spot prices. With this tactic, Rex was able to move faster earlier this year with its Solana strike ETFs.
Competitors are still waiting for sec green light
While Rex pushes ahead, other Doge ETF are still in the dark. Earlier this year, 21Shares, Bitwise and Grayscale submitted all files for Dogecoin ETFs. However, the SEC needs to approve something. The current deadlines are October 18 for Bitwise and Grayscale, and January 9 for 21Shares.
Despite the delays, market optimism is growing. According to Polymarket, the chance of approval from a spot Doge ETF has risen to 80%, which is a representation of an increased trust of investors in short -term developments.
If $ do goes live next week as expected, Rex shares can cement themselves as a first mover in the Memecoin ETF space, which opened the door for a wave of similar funds and potentially legalizing doge in the eyes of more traditional investors.
