DOJE ETF set for Thursday launch as first US ETF with no utility
First US ETF to embrace function-free meme coin launches Thursday, signaling a new ETF meme asset category.
Key Takeaways
- The DOJE ETF will launch Thursday as the first US exchange-traded fund holding a meme coin with no functional utility.
- It is structured under the Investment Company Act of 1940, similar to the SSK fund.
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A meme coin exchange-traded fund is set to launch Thursday, marking what appears to be the first US ETF to hold an asset with no intended utility.
The DOJE ETF will launch under the Investment Company Act of 1940, similar to the SSK fund structure. The fund will hold a digital asset designed without functional utility, distinguishing it from other crypto assets that serve specific blockchain functions.
A separate group of ETF applicants filed under the Securities Act of 1933 remains pending approval from the Securities and Exchange Commission. The Thursday launch represents the beginning of what could become a broader meme coin ETF category in US markets.
The development follows the established pattern of crypto ETF launches, where funds operating under different regulatory frameworks have varying approval timelines and structures.
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