Dogecoin jumps 16% past $0.30 amid ETF launch expectations

Minseung Kang

Dogecoin (DOGE) price rose 16.55% over the past 24 hours to surpass $0.30.
Expectations for a Dogecoin ETF launch in the United States are stimulating investor sentiment.
Lex Shares and Osprey Fund are pursuing a Dogecoin ETF listing based on the Investment Company Act of 1940, increasing the likelihood of approval.

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Dogecoin (DOGE) price has broken above the $0.30 level and continues to show strength.

On the 13th, according to BlockBeats, a crypto-asset (cryptocurrency) specialized media, Dogecoin is trading at $0.3042, up 16.55% over the past 24 hours. News that a Dogecoin exchange-traded fund (ETF) could be launched in the United States on the 18th is thought to have stimulated investor sentiment.

Industry sources say U.S. asset managers Lex Shares and Osprey Fund are expected to launch a 'Dogecoin ETF' on the 18th (local time). This ETF is structured to not directly hold Dogecoin but to indirectly invest in spot and derivatives through a Cayman Islands subsidiary. Experts say the product is more likely to be approved because it will pursue the listing process based on the Investment Company Act of 1940 rather than the Securities Act of 1933.

Currently, Dogecoin spot ETFs filed by Grayscale and Bitwise based on the Securities Act of 1933 are still under review.

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