Dogecoin gained around 4% to reach $0.26 despite Bloomberg’s Eric Balchunas reporting that the first US DOGE ETF faces another delay.
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Dogecoin’s price rose Friday even as the launch of a US exchange-traded fund (ETF) tied to the memecoin was delayed again, according to a Bloomberg analyst.
According to CoinMarketCap , Dogecoin () increased by nearly 4% over the last 24 hours — reaching $0.2603 at the time of writing. The rise comes despite Bloomberg’s senior ETF analyst Eric Balchunas saying Thursday that the launch of a US DOGE ETF is delayed again.
According to a Sept. 8 US Securities and Exchange Commission (SEC) , the Rex-Osprey DOGE ETF (DOJE) was expected to list alongside Bonk (), XRP (), Bitcoin () and Trump Official () ETFs on Friday, Sept. 12. Still, Balchunas suggested that the listing is delayed until the middle of next week, likely Thursday.
Earlier this month, the DOJE ETF won , a framework typically used for mutual funds and diversified ETFs. This sets it apart from Bitcoin ETFs approved under the Securities Act of 1933, which governs commodity- and asset-backed products rather than fund-style vehicles.
Balchunas told Cointelegraph that he learned of the delay directly from the company behind the ETF. He said that the firm has not shared the reason behind the delay.
The analyst added that he does expect this ETF to have a “minimal“ impact on Dogecoin’s price. He explained that with Bitcoin, there were investors interested who could not interact with crypto directly. He expects those interested in DOGE to have crypto exchange accounts already.
“The further away you get from BTC, the less assets it will be.”
Still, Balchunas said that he expects four to five Dogecoin ETFs to launch in October or November. He said that “the more [DOGE ETFs] launch, the more it will move the needle.
Balchunas added that this ETF is different from most crypto ETFs that have launched. He explained that it “is not really spot” since it does not hold DOGE directly, relying instead on a Cayman Islands-based subsidiary and derivatives — this is necessary since the 1940 act requires diversification and restricts single-asset concentration.
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Dogecoin ETF triggers speculation
This approval appears to be without any precedents. Balchunas on X on that he is “pretty sure this is the first-ever US ETF to hold something that has no utility or purpose.”
While the industry usually reacts overwhelmingly positively to the approval of new crypto ETFs, this case was somewhat different. Recent reports highlighted that critics argue that a , while also charging fees that investors could avoid by buying Dogecoin directly.
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Doge attracts institutional attention
, is attracting increasingly more institutional attention. Friday reports indicate that CleanCore Solutions, a maker of aqueous ozone cleaning systems, after buying $130 million in DOGE this week.
The announcement follows CleanCore Solutions’ announcement that it will , spending the proceeds on acquiring more DOGE. This offering was on Sept. 5.
Also this month, Trump family-linked media corporation . The announcement described the memecoin as “one of the most widely held cryptocurrencies.”
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