According to Bloomberg analyst Eric Balchunas, the first Dogecoin ETF in the United States could launch as early as next week. The issuer is REX Shares, which has already successfully launched a Solana ETF through the same regulatory route.

Looks like Rex is going to launch a Doge ETF via the 40 Act a la $SSK next week based on below tweet combined w how they just filed an effective prospectus. Doge looks like first one to go out, but the pros also includes on there are Trump, XRP and Bonk so poss those too at some… https://t.co/svyAFLB8Q3

— Eric Balchunas (@EricBalchunas) September 4, 2025

Instead of the usual S-1 and 19b-4 procedures, REX is using the 40 Act approach, which allows for faster approval. Industry experts such as Nate Geraci speak of a “regulatory end-around.” In the documents, REX explicitly points out the extreme volatility and specific risks of Dogecoin. Nevertheless, the step is considered an important milestone for the institutional recognition of memecoins.

Dogecoin has gained over 116 percent in the past year, but is currently trading at around $0.21, well below its May 2021 high of $0.73. The token’s popularity continues to be fueled by its close association with Elon Musk, who called himself the “Dogefather” and was recently linked to $200 million in Dogecoin investments through his lawyers.

The SEC is currently reviewing 92 crypto ETF applications, including those for Solana, XRP, and Litecoin. In August alone, $4.37 billion flowed into digital investment products. If the Dogecoin ETF actually launches, it would be the first US product with direct access to a memecoin.