Dogecoin, a meme-based cryptocurrency created on a lark more than a decade ago, is now available to investors through the US public market.
On September 18, investment fund management firms REX Financial and Osprey Funds jointly launched a dogecoin exchange-traded fund (ETF). The launch marks the first time that US investors are able to bet on memecoins—which serve no purpose and promise no utility—through a traditional brokerage, without handling crypto directly.
ETFs are designed to track the price of an underlying asset—whether metals, gold, or crypto. Loosely, for every dollar invested in an ETF, the operator stockpiles a dollar’s worth of the asset, earning a
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