Dogecoin Rises 6% As First ETF Launched

(MENAFN- Yolo Wire) The price of %Dogecoin (CRYPTO: $DOGE) has risen 6% in the last 24 hours as the first U.S. exchange-traded fund (ETF) related to the %Cryptocurrency launches today (Sept. 12).

The REX-Osprey Dogecoin ETF (DOJE) is the first U.S. ETF designed to track the spot price of Dogecoin, a popular meme coin that was initially created as a joke.

REX-Osprey is a partnership between REX Shares and Osprey Funds, which specialize in managing cryptocurrency investments and ETFs.

The U.S. Securities and Exchange Commission (SEC) allowed the Dogecoin ETF registration to become effective under existing rules rather than issuing a formal approval order as with traditional ETFs.

The launch of the ETF has powered the price of Dogecoin higher, with it currently trading at $0.26 U.S. per digital token.

Much of the rise has been driven by heavy buying among institutional investors, with trading volumes exceeding 1.1 billion in the past day.

Other Dogecoin-focused ETFs are expected to launch in the U.S. in coming months. Like all cryptocurrencies, DOGE trades around the clock, 24 hours a day, seven days a week.

Analysts are now watching to see if Dogecoin can maintain its current level of $0.26 U.S. and test the $0.29 U.S. resistance level. So far in 2025, DOGE has declined 17%.

MENAFN12092025007606016353ID1110055238