DOGE ETF will debut, becoming the first fund in the United States to support "ineffective" assets

The first Dogecoin ETF in the United States, Rex-Osprey's DOJE, will be launched on Thursday under the framework of the Investment Companies Act 1940, which is different from commodity-type cryptocurrency ETFs. Bloomberg's Eric Balchunas pointed out that this is the first ETF in the United States to hold assets that are "intentionally not practical". Investment expert Ganesh Mahidhar stressed that the Investment Companies Act 1940 provides investors with more protection and governance and compared Dogecoin’s proof-of-work model with meme coins such as Shiba Inu. While the possibility of institutional adoption is not initially high, market capitalization growth may attract attention. Dogecoin trading at $0.24, up 1.4% per day. More than 90 cryptocurrency ETF proposals, including Solana and XRP funds, are awaiting the final decision of the SEC.