Dogecoin arrived at Wall Street

Are the pieces even a legitimate investment now? Well, Wall Street seems to think. Last week, Rex Financial and Osprey Funds launched the first Dogecoin Exchange Traded (ETF) fund.

Basically, an ETF is an asset package, which may include shares, bonds, basic products and now mecoins, which is negotiated on the stock market as a single stock. A classic example is the S&P 500 ETF, funds that have actions from each company on the major Wall Street index

In the case of Rex -Osprey DOGE ETF, the fund uses financial derivatives – contracts, exchange agreements and other financial instruments linked to the Dogecoin price – to create an investment that reflects the movements of the part. In other words, investors do not buy Dogecoin himself. In a press release, companies said the objective was to give people an exposure to the potential rewards and risks of the same corner via a regular brokerage account.

“The value of Dadecoin is often influenced by social media tendencies and the feeling of the community. This ETF captures this unique dynamic, while investors must remain aware that the same can undergo significant volatility and rapid price fluctuations, ”warns the fund information sheet.

However, demand for this type of investment seems to be significant, nearly $ 17 million flocating the fund on the first day.

Competitors like 21Shares, Grayscale and Bitwise have already aligned their own FNB Dogecoin, pending regulatory approval.

This is good news for people who already have Dogecoin, because its price has increased by 10% this month.

The launch of this FNB (and other related funds which are on the way) legitimately legitimizes cryptocurrencies in general as consumer investment. Last year, the US Securities and Exchange Commission (SEC) approved the first ETF Bitcoin, 15 full years after the start of Bitcoin in 2009 as digital currency.

Now it’s the same. Based on jokes and internet trends, these cryptocurrencies are generally not considered to be serious money manufacturers. Dogecoin, one of the original same, is itself derived from a meme 2013 featuring silly photos of a Shiba Inu dog associated with even more clumsy legends in comics without police. Unlike other cryptocurrencies, the same do not even claim to have a public service, and most of them lose all their value in the rapid pump and dump frantic-if they gain value, that is to say.

The launch of the Dadecoin FNB last week also coincided with the new dry rules that facilitate the launch requirements of Crypto ETF. This decision is another example of the PRO-Crypto position of the Trump administration and the contempt for the risks of related investors associated with space.

Since the start of his second term, Trump’s administration has brought friendly regulations for the Stablescoins and has abandoned investigations on Jesse Powell, the founder of the Crypto-Monnaie Exchange Kraken, as well as the Paris Cryptures Polymarket Paris platform.

In addition, Trump signed a decree in March by creating a federal strategic bitcoin reserve and a stock of digital assets. He also appointed David Sacks, former COO Paypal, as Czar AI and Crypto of the White House.

Trump’s user -friendly policies have made sense if he has managed to make a fortune of several billion dollars in industry. According to an analysis of Forbes, a large part of its current net value now comes from crypto.

Now he should possibly earn even more money, because Rex and Osprey asked for permission in January to launch ETFs for several other cryptocurrencies, including Trump’s own.