No wonder early this morning Kan Ge @tktang88 messaged me asking if the DOGE ETF was about to get approved. I was still half-asleep at the time, checked around, and didn’t see any info about a DOGE spot ETF. Later in the afternoon, when I carefully read the news, I came across this one—it’s probably the ETF he was talking about. First off, this ETF is indeed related to DOGE, but it’s not a DOGE spot ETF. It won’t actually buy or hold DOGE. Instead, it tracks DOGE’s price through swaps, futures, and other derivatives. The SEC’s filing makes it very clear: the fund will use a Cayman subsidiary to allocate these derivatives to achieve its goal. Essentially, it’s still a synthetic exposure. It should be listed within this week. Sponsored by Bitget ｜ @Bitget_zh