The first memecoin exchange-traded fund (ETF) in the US, Rex-Osprey Doge ETF (DOJE), is set to debut on Thursday, following the success of Bitcoin and Ether funds last year. Dogecoin surged 13% ahead of approval, with a market cap of $36 billion, emphasizing growing institutional interest in memecoins for speculative purposes.

The SEC approved the Rex-Osprey Doge ETF as regulators consider multiple crypto-focused exchange-traded products, including assets like Dogecoin, Solana (SOL), and XRP. This move comes as 92 proposals for crypto-related ETFs are in the pipeline, reflecting a growing trend in the market for crypto-based investment products.

The initial focus of crypto ETFs was on Bitcoin and Ether, with spot Bitcoin ETFs in early 2024 drawing substantial inflows. Ether funds have also seen increased demand this year. The SEC’s evolving approach to digital assets under President Trump has paved the way for new opportunities in the market, including tokenization as a financial innovation and the clarification of certain liquid-staking activities.

Read more at Cointelegraph: US Approves First Dogecoin ETF (DOJE) Under 1940 Act