Dogecoin ETF Launch Exceeds Trading Expectations on Wall Street
- The REX-Osprey Doge ETF, ticker DOJE, recorded nearly $6 million in trading volume during its first hour.
- It reached a turnover of $5.8 million before midday, significantly higher than the typical debut volume of under $1 million for ETFs.
- Bloomberg analyst Eric Balchunas noted that the result “destroyed” expectations set at an informal benchmark of $2.5 million.
- As of press time, Dogecoin was trading at $0.281, up by approximately 4.45%.
- DOJE is registered under the Investment Company Act of 1940, differing from earlier spot Bitcoin ETFs registered under the Securities Act of 1933.
The successful launch reflects strong retail interest in crypto-linked products as issuers respond to growing demand for regulated digital asset investment options. The introduction of new funds targeting altcoins further illustrates Wall Street’s increasing acceptance of cryptocurrency despite market volatility.
The opening session of DOJE marked a significant moment in the ETF market, achieving nearly $6 million in its first hour and indicating robust investor engagement with ETFs tied to cryptocurrencies.(Source)
