Balchunas emphasized the fund’s unusual nature, noting that it would be the first U.S. ETF designed to hold an asset “with no utility on purpose.”
The quick turnaround can be linked to the fact that DOJE was registered under the Investment Company Act of 1940, a strategy that speeds up approval compared with the traditional 19b-4 process required for spot crypto ETFs.
Under this approach, the fund is structured as a C-corporation that provides DOGE exposure through a Cayman Islands subsidiary.
Notably, the same framework was used for its Staking Solana Fund (SSK), giving the firm a track record of navigating the structure.
However, this setup often draws skepticism from some investors who cite concerns about potential double taxation.
Nonetheless, this approach would allow an issuer to move quickly, while rivals might remain in the queue because they apply through the Securities Act of 1933 route.
The ETF development coincides with a major corporation adopting Dogecoin for its digital asset treasury initiative.
CleanCore said the purchase is the first stage in a plan to accumulate one billion DOGE within 30 days and ultimately secure 5% of the token’s circulating supply.
The Dogecoin Foundation and its corporate arm, House of Doge, backed the initiative. Their strategy positions DOGE as a digital asset for payments, tokenization projects, staking-style products, and cross-border transfers.
According to the partners, this setup is intended to strengthen transparency and stability while laying the foundation for yield-bearing products that could expand Dogecoin’s role in mainstream finance
