The Rex-Osprey Dogecoin ETF (DOJE) is set to debut in U.S. markets, marking it as the first exchange-traded fund (ETF) to hold an asset designed with 'no utility on purpose.' According to Bloomberg analyst Eric Balchunas, this innovative fund operates under the Investment Company Act of 1940, a regulatory framework that provides more governance and investor protection compared to those based on the Securities Act of 1933. The fund aims to attract institutional investors, although initial adoption may be slow due to its asset's unique characteristics. Investment professional Ganesh Mahidhar emphasized that Dogecoin's proof-of-work consensus gives it a technical advantage over proof-of-stake meme tokens, which lack similar baselines. While institutional portfolios may not engage with the ETF immediately, significant market cap growth could kindle interest. The launch comes amid a wave of ETF applications awaiting review by the SEC, with various crypto assets trending as potential investment vehicles. The Dogecoin price currently fluctuates around $0.24, showcasing a modest increase over the past week, signaling potential volatility that might draw investors' attention.

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