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In his recent X post, Bloomberg’s Eric Balchunas has highlighted the upcoming beginning of what he calls the “meme coin ETF era,” as the very first meme coin exchange-traded fund is about to be launched later this week. This meme coin is the original meme asset, Dogecoin (DOGE).
However, unlike the Bitcoin and Ethereum ETFs that have been launched already, $DOJE will be rolled out on different terms from the SEC.
First DOGE ETF about to launch
Balchunas announced the approaching start of the era of ETFs that track meme coins’ prices. The first one to launch is DOJE — a Dogecoin ETF to be listed on Thursday by the REX Shares and Osprey funds. On May 30, these two funds also filed for the launch of SOL and ETH exchange-traded funds.
The Dogecoin ETF was filed under the 40 Act (the 1940 Investment Act). Balchunas stressed that the DOGE-based fund will be the “first-ever US ETF to hold something that has no utility on purpose.” Usually, ETFs are filed under the 1933 Securities Act, and now there is “a big group of '33 Act-ers waiting for SEC approval still.” This development follows an earlier announcement by CleanCore Solutions, Inc., to create a Dogecoin treasury.
CleanCore solutions sets up DOGE treasury
On Sept. 8, Solutions, Inc. (NYSE American: ZONE) announced that it had acquired 285,420,000 Dogecoin worth $68 million for its newly created DOGE treasury. It immediately became the world’s largest Dogecoin CleanCore treasury.
The company also announced that it plans to accumulate one billion DOGE within the next month. However, it will be just the beginning. The long-term goal of CleanCore is to add a total of 5% of the DOGE supply to its meme coin treasury.
This treasury is led by Elon Musk’s attorney, Alex Spiro.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team