Dogecoin bulls have long awaited an exchange-traded fund in the U.S. that tracks the token’s volatile price movements, and it could be as soon as this week.

The Rex-Osprey DOGE ETF, tickered $DOJE, appears likely to launch this week, according to ETF Store president Nate Geraci. The product would offer investors direct exposure to the performance of the memecoin, making it the first of its kind in the U.S. market.

The ETF is backed by REX Shares and Osprey Funds, the firms behind $SSK, a Solana staking ETF that went live earlier this year. $DOJE is being distributed by Foreside Fund Services LLC.

The move would extend a run of crypto-linked ETFs following the approvals of spot bitcoin and ether products in 2024, and comes as issuers race to roll out novel offerings tied to alternative tokens and strategies. DOGE’s profile as a “cultural” asset, long fueled by Elon Musk’s references and social media presence, makes it a natural candidate for a retail-facing ETF product.

Market participants expect heightened volatility around launch. “Think we’re in for a wild next 2 months for crypto ETFs,” Geraci said on X, signaling that DOGE could pull in speculative flows similar to other spot products.

DOGE last traded at around 23 cents, up 7% in the past day and nearly 15% on the week, outperforming larger tokens such as bitcoin and ether.

Also, this isn’t the first memecoin-related ETF to be proposed for the U.S. market. On Aug. 26, Canary Capital Group filed with the SEC to launch a spot ETF that would hold the TRUMP Coin, a Solana-based token linked to President Donald Trump.

Traders will monitor whether a DOGE (or TRUMP) ETF listing draws new demand into the memecoin sector or whether volumes remain concentrated in existing exchange markets.