Dogecoin's First ETF Makes Explosive Debut with $17M First-Day Trading

Dogecoin (DOGE) reached a new milestone with the debut of its first U.S. spot ETF. Trading under DOJE, the fund attracted $17 million on day one, surpassing analyst predictions. The launch reflects growing demand for safe, regulated access to meme coins.

Strong Dogecoin ETF Debut

The DOJE ETF was launched by REX Shares in partnership with Osprey Funds and is listed on the Cboe BZX exchange. Unlike ETFs that hold the underlying asset directly, DOJE gains exposure to Dogecoin via a Cayman Islands subsidiary using futures and derivatives. This setup allows the fund to track DOGE’s performance while complying with U.S. regulations.

The ETF had a strong start. In its first hour, volume reached about $6 million, far above the usual under $1 million for new ETFs. Analysts had predicted $2.5 million. Eric Balchunas from Bloomberg noted that as a 1940 Act fund, DOJE might get less attention than 1933 Act ETFs at first.

By the end of the day, trading volume had reached $17 million, one of the top ETF launches this year. Balchunas said this strong start could increase interest in crypto ETFs under the 33 Act and drive more investments into Dogecoin and other altcoins.

Price Movement and Investor Behavior

DOJE launched at the same time as the XRP ETF (XRPR), which reached $37.7 million in volume. The total for the day came to $54.7 million.This shows that altcoin ETFs are becoming a bigger part of regulated finance, not just a niche.

Despite the ETF’s strong reception, Dogecoin’s price moved only slightly, falling 2.6% to $0.27. On-chain data suggests underlying strength, with short-term holders accumulating while long-term holders are selling, a pattern often seen before price increases. Some analysts have suggested that institutional involvement could push DOGE to levels well above its current price.

The event shows that ETF volume does not automatically raise the coin’s price. It mainly reflects investor sentiment, market access, and trust in regulation, which may influence Dogecoin over time.

How the ETF Launch Could Affect Dogecoin?

The launch of DOJE is an important moment for Dogecoin. It shows that meme coin ETFs are gaining acceptance in the U.S. financial system. Investors now have a safe and regulated way to access altcoins that were previously available only on risky trading platforms. This could attract more institutional investors who need oversight and compliance.

In the coming months, several 33 Act Dogecoin ETFs are expected to apply for SEC approval. If approved, they could bring significant institutional money into the market, changing liquidity and investor behavior. For retail investors, ETFs offer a way to participate without handling crypto directly.

Price swings remain a concern. Dogecoin keeps its cultural and speculative appeal, so investor decisions will continue to matter. Still, this launch shows that Dogecoin is moving beyond online chatter into the regulated market.

What to Expect Next?

Dogecoin’s first U.S. ETF launch beat expectations, with $17 million traded on the first day. This shows growing interest from institutions in meme coins. While DOGE’s price didn’t change much at first, on-chain data and investor activity suggest possible long-term growth.

With more altcoin ETFs coming, this points to increasing demand for regulated crypto and suggests meme coins could gain recognition from both retail and institutional investors.