The post DOGE Trades Up Despite Today’s US ETF Launch Delay Reports appeared on BitcoinEthereumNews.com.
Dogecoin’s price rose Friday even as the launch of a US exchange-traded fund (ETF) tied to the memecoin was delayed again, according to a Bloomberg analyst. According to CoinMarketCap data, Dogecoin (DOGE) increased by nearly 4% over the last 24 hours — reaching $0.2603 at the time of writing. The rise comes despite Bloomberg’s senior ETF analyst Eric Balchunas saying Thursday that the launch of a US DOGE ETF is delayed again. Dogecoin price chart. Source: CoinMarketCap According to a Sept. 8 US Securities and Exchange Commission (SEC) filing, the Rex-Osprey DOGE ETF (DOJE) was expected to list alongside Bonk (BONK), XRP (XRP), Bitcoin (BTC) and Trump Official (TRUMP) ETFs on Friday, Sept. 12. Still, Balchunas suggested that the listing is delayed until the middle of next week, likely Thursday. Source: Eric Balchaunas Earlier this month, the DOJE ETF won approval under the Investment Company Act of 1940, a framework typically used for mutual funds and diversified ETFs. This sets it apart from Bitcoin ETFs approved under the Securities Act of 1933, which governs commodity- and asset-backed products rather than fund-style vehicles. Balchunas told Cointelegraph that he learned of the delay directly from the company behind the ETF. He said that the firm has not shared the reason behind the delay. The analyst added that he does expect this ETF to have a “minimal“ impact on Dogecoin’s price. He explained that with Bitcoin, there were investors interested who could not interact with crypto directly. He expects those interested in DOGE to have crypto exchange accounts already. “The further away you get from BTC, the less assets it will be.” Still, Balchunas said that he expects four to five Dogecoin ETFs to launch in October or November. He said that “the more [DOGE ETFs] launch, the more it will move the needle.…