Dogecoin ETF Launches in the US: First-Ever Meme Coin Fund Goes Live

Just a few years ago, the idea of a U.S. exchange-traded fund (ETF) based on meme coins would have been dismissed as a joke. But that joke has become reality the first Dogecoin ETF is set to launch this Thursday, bringing the original meme coin into the institutional spotlight.

A Historic First: ETF With “No Utility”

According to Bloomberg ETF analyst Eric Balchunas, the Rex-Osprey Doge ETF (ticker: DOJE) will be the first-ever U.S. ETF to hold “something that has no utility or purpose.” Unlike Bitcoin or Ethereum ETFs, which are tied to commodities or derivative structures under the Securities Act of 1933, this Dogecoin ETF is being introduced under the Investment Company Act of 1940, making it a regulatory first of its kind.

Dogecoin has been around for more than a decade, widely recognized as the original meme coin. Despite lacking traditional use cases, it has developed a massive global community and inspired countless spinoff tokens. Its cultural relevance is now strong enough to justify Wall Street packaging.

Market Reaction and Price Volatility

Following the ETF news, DOGE surged in volatility, currently trading around $0.24 with a market cap of $36 billion. Over the past two weeks, Dogecoin has climbed 12.2%, while its year-over-year gains exceed 130%.

This listing highlights just how far speculative digital assets have come, transitioning from internet jokes into vehicles attracting institutional capital.

Institutional Curiosity Around Meme Coins

The ETF’s launch reflects the growing appetite from Wall Street to explore unconventional digital assets. In fact, Crypto News Australia recently reported that CleanCore, a Nebraska-based cleaning company, raised $175 million in a private placement to establish a Dogecoin-based treasury, underscoring the shift from meme culture into financial adoption.

What was once dismissed as a punchline is now set to become a regulated investment product, making Dogecoin the first meme coin in U.S. history to be wrapped into an ETF.