Rex Shares and Osprey Funds filed for the REX-Osprey Dogecoin ETF, which would be the first US fund tied exclusively to Dogecoin. The fund comes under the Investment Company Act of 1940, a path the issuers have used for other crypto products. The prospectus outlines a DOGE strategy and a Cayman subsidiary structure, similar to those in prior filings for TRUMP, XRP, BONK, BTC, and SOL products.

The DOGE fund’s summary states it will invest at least 80% of net assets in Dogecoin or instruments that provide DOGE exposure. It can use futures and swaps, while the remainder may sit in cash, Treasuries, or equivalents to support operations and collateral needs. The same document identifies a wholly-owned Cayman subsidiary for DOGE exposure and caps subsidiary assets at 25% of total assets.

The issuers previously launched SSK, a Solana + staking ETF, and used Foreside Fund Services as distributor across the lineup. That operational setup and service provider lineup appear again in the latest REX-Osprey prospectus materials.

Analysts Flag Fast Timeline

Bloomberg’s Eric Balchunas said the filing structure could enable a launch within days. Multiple industry outlets highlighted his view and REX’s public teaser, which references the proposed ticker “DOJE.” Reports suggest that “DOJE” may be first out of the gate under the 40 Act framework.

Dogecoin price hovers around $0.21–$0.22 on Friday, with market trackers showing ~$32 billion in market value. Traders are watching the $0.21 area as a short-term support into the news cycle.

Several firms have sought DOGE exposure through the standard S-1/19b-4 route this year, including 21Shares, Bitwise, and Grayscale. Those applications remain pending. The REX-Osprey ‘40 Act’ structure offers a different avenue and has shown faster paths for other crypto funds.

Also Read: Dogecoin Price Hits $0.22 Resistance Amid Volume Surge: What’s Next for DOGE?

Mining and Treasury Moves Underscore Growing DOGE Footprint

Thumzup Media, a Nasdaq-listed company linked to Donald Trump Jr., disclosed definitive agreements to acquire a Dogecoin mining operation. The plan includes 3,500 Bitmain rigs and projects $22.7 million in annual revenue at current prices, rising to $103 million if DOGE hits $1. The company expects to close the DogeHash acquisition pending shareholder approval.

Mining economics continues to draw attention. In December 2024, BIT Mining said its Dogecoin mining unit was nearly three times as profitable as its Bitcoin-only operations. That disclosure helped frame DOGE’s appeal to miners through the current cycle.

Separately, Elon Musk’s attorney Alex Spiro has been named to chair a proposed $200 million Dogecoin digital asset treasury. Recent reports describe the vehicle as an institutional pool to accumulate DOGE, adding another potential buyer alongside ETF demand and miner treasuries.

If approved, the REX-Osprey DOGE ETF would give US investors regulated exposure to Dogecoin’s spot market and derivatives. The combination of a fast-track structure, expanding mining capacity, and emergent treasury vehicles signals a broader institutional bridge forming around DOGE.