Dogecoin Gets Its First ETF, Opening the Door to Institutional Money
A New Chapter for Dogecoin
Dogecoin just hit a major milestone — the launch of its first-ever U.S. ETF. The REX-Osprey Dogecoin ETF ($DOJE) started trading on Thursday, making DOGE the first meme coin with its own regulated exchange-traded fund on Wall Street. This means U.S. investors can now get exposure to Dogecoin through a traditional investment product without having to use a crypto exchange or manage wallets.
The ETF approval came quickly because it was filed under the Investment Company Act of 1940, avoiding the longer approval route through the Securities Act of 1933. REX Shares and Osprey Funds — the same team behind the Solana Staking ETF (SSK) — are the sponsors.
From Meme to Mainstream
This launch gives Dogecoin a new platform, potentially bringing in institutional capital and adding legitimacy to what started as a joke coin. ETFs for Bitcoin and Ethereum have already proven to be game changers, pulling in billions in inflows and giving both assets mainstream credibility. If Dogecoin can capture even a slice of that, it could mark the start of a serious revival.
Analysts are already calling this a maturation phase for Dogecoin, with expectations that billions could flow in, just as spot Bitcoin and Ethereum ETFs saw after launch.
Bloomberg Senior ETF Analyst Eric Balchunas stated that the DOJE ETF volume on its first trading day hit an impressive $5.8 million in the first hour, far more than the $1 million most ETF launches record in the same timeframe. - Yahoo Finance
Analysts and Traders Set Bold Price Targets
Traders and analysts are optimistic. Some believe the ETF momentum could push Dogecoin as high as $0.60. Others point to technical patterns, like a bullish megaphone setup, that could even target $1.40 in the long run.
Recently, DOGE broke above $0.27 and traded at $0.28 on Thursday, up 12% from a local low of $0.25 earlier in the week. That recovery is seen as a sign buyers are paying attention again. Open interest in Dogecoin futures also surged to an all-time high above $6 billion, showing strong investor engagement.
Institutional Moves: Big Money Steps In
The ETF launch isn’t the only sign of momentum. Two companies have made major DOGE-related moves this month:
Thumzup Media Corporation (Nasdaq-listed) disclosed a $2 million investment in Dogecoin, buying about 7.5 million tokens at an average of $0.2665. Thumzup also revealed plans to expand into large-scale Dogecoin mining through its pending acquisition of Dogehash Technologies, which currently operates around 2,500 ASIC miners with another 1,000 rigs expected in 2025. By year-end, Thumzup wants to deploy 3,500 mining rigs focused on DOGE and Litecoin.
The company also added Jordan Jefferson, co-founder of DogeOS and head of MyDoge wallet, to its Crypto Advisory Board. Thumzup’s CEO said they aim to use their DOGE holdings within the ecosystem rather than just hold, helping strengthen Dogecoin’s economy.
Fun fact: In July it was revealed that Donald Trump Jr. owns 350,000 shares of Thumzup.
CleanCore (ZONE), a publicly traded cleaning and disinfection company from Omaha, shocked markets by adding 100 million DOGE to its balance sheet, lifting its treasury to over 600 million DOGE — worth about $161 million. The firm says its goal is to make Dogecoin a premier reserve asset and support its broader use in payments, tokenization, staking-like products, and remittances.
CleanCore works with the House of Doge (the commercial arm of the Dogecoin Foundation) and has been branded an “official” Dogecoin treasury. The firm launched a $175 million PIPE deal in early September to kick-start its treasury, aiming to accumulate 1 billion DOGE within 30 days and eventually control 5% of the entire circulating supply (around 7.5 billion DOGE).
The board is chaired by Alex Spiro, Elon Musk’s personal lawyer, who defended Musk in a $258 billion lawsuit over Dogecoin that was dropped last year.
SEC Decisions Still Ahead
The SEC is still reviewing other Dogecoin-related filings, including Grayscale’s bid to convert its Dogecoin Trust into an ETF. The deadline for that decision is mid-October. On prediction market Polymarket, bettors are placing 98% odds that another DOGE spot ETF will get approved in 2025.
Where Things Stand Now
Dogecoin remains the 8th largest crypto by market cap, trading above $0.28 — still about 63% below its all-time high of $0.73 in 2021. But with the first ETF live, big companies adding DOGE to their balance sheets, and institutions showing growing interest, Dogecoin is suddenly back in the spotlight.
The combination of ETF inflows, corporate adoption, and investor hype could give DOGE its strongest chance yet at evolving from a meme to a mainstream digital asset.