REX Plans to Launch DOGE Spot ETF Under Investment Company Act

According to BlockBeats, Bloomberg ETF analyst Eric Balchunas indicated that REX is expected to launch a DOGE spot ETF next week under the Investment Company Act of 1940. The prospectus also mentions TRUMP, XRP, and BONK, suggesting potential future ETFs for these assets. The Investment Company Act of 1940 is a U.S. federal law that allows ETFs to establish subsidiaries in jurisdictions like the Cayman Islands, enabling them to gain investment exposure to these assets without violating the parent fund's direct rules. On Wednesday, REX-Osprey submitted a prospectus for the REX-Osprey DOGE ETF to the U.S. Securities and Exchange Commission (SEC). Earlier this summer, REX-Osprey was the first to introduce a Solana Staking ETF, and it is anticipated that their DOGE spot ETF will also be among the first to market. Meanwhile, Grayscale and Bitwise have also announced plans to launch DOGE spot ETFs, joining over 90 crypto-related ETF proposals currently under SEC review.