Dogecoin ETF Has 93% Approval Chance This Week, Analyst Says

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Key Notes

  • Santiment analyst expects a 93% chance for a DOGE ETF this week.
  • REX Shares and Osprey Funds are using a new route for speeding up the approval process.
  • Dogecoin gained bullish momentum with the news breakout on X.

Santiment analyst Brian Q. shared a bold prediction for the upcoming crypto-related Rex-Osprey exchange-traded fund.

Brian wrote in an analysis for Santiment that REX Shares and Osprey Funds will likely get the approval to launch their REX-Osprey Dogecoin

DOGE
$0.24



24h volatility:
2.9%


Market cap:
$36.31 B



Vol. 24h:
$3.54 B

ETF, with the $DOJE ticker, very soon. He claimed that there’s a 93% chance of confirmation this week.


This will not only bring DOGE to the US-based cryptocurrency fans but also allow traditional finance investors to gain exposure to the leading meme coin in the market.

DOGE is up 4% in 24 hours and is currently trading at $0.24. The dog-themed asset has a market cap of $36.4 billion with a daily trading volume of $3.8 billion.

The $DOJE ETF is expected to trigger bullish momentum for the meme coin.

The REX-Osprey Shortcut

According to the analyst, REX Shares and Osprey Funds have found a “faster approval route” for their crypto-based investment products.

It’s called the “40 Act.” As the name suggests, the regulation refers to the US Investment Company Act of 1940, which limits the activities of investment companies by requiring disclosure of information about their structure and operations, excessive borrowing, for example, to protect the investors.

The company has already got the approval for a Solana

SOL
$219.0



24h volatility:
4.5%


Market cap:
$118.70 B



Vol. 24h:
$10.97 B

ETF, called the $SSK. The investment product has already brought $195 million in net inflows, according to Farside Investors.

A Struggling Crypto ETF Market

The crypto-related ETF market has been struggling over the past week due to increasing consolidations and selloffs.

Farside data shows that US-based spot Ethereum

ETH
$4 360



24h volatility:
1.1%


Market cap:
$526.87 B



Vol. 24h:
$30.49 B

ETFs recorded their sixth consecutive net outflow on Sept. 8, worth $96.7 million. Spot Bitcoin

BTC
$112 963



24h volatility:
1.0%


Market cap:
$2.25 T



Vol. 24h:
$41.01 B

funds ended last week with over $380 million in outflows on Sept. 4 and 5, but gained $364.3 million in inflows on Sept. 8.

The crypto market cap is still hovering below the $4 trillion mark as leading assets, like BTC, ETH, and most of the altcoins, recorded notable selloffs over the past two weeks.

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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Dogecoin (DOGE) News, Cryptocurrency News, News

Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.

Wahid Pessarlay on X


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