First Dogecoin ETF Surges Past Trading Expectations

The first US Dogecoin ETF, issued by REX Shares and Osprey Funds under ticker DOJE, launched on Thursday on major exchanges. Structured under the Investment Company Act of 1940, the fund directly tracks Dogecoin through a Cayman Islands-registered subsidiary.

Trading volume for DOJE reached nearly $6 million within the first hour, far exceeding Bloomberg analyst Eric Balchunas’ $2.5 million projection. By comparison, most ETFs record under $1 million on debut day, making DOJE’s initial momentum unusually strong.

Dogecoin’s price rose 8% over 24 hours to $0.286, outperforming Bitcoin and Ethereum as investor enthusiasm accelerated. The rally also coincided with CleanCore Solutions adding 100 million DOGE, bringing its corporate treasury holdings to 600 million tokens.

The Dogecoin Foundation’s commercial arm, House of Doge, hailed the ETF as validation of DOGE’s evolution from meme token to global currency. More DOGE ETFs from issuers including Grayscale and Bitwise are pending SEC approval, with decisions expected by October 17.

Vitalik Buterin Defends Long Ethereum Staking Exit Times

Ethereum founder Vitalik Buterin defended the network’s lengthy staking exit times, which critics argue reduce usability for participants. He said staking requires responsibility, comparing leaving to “a soldier quitting the army” and stressing friction maintains stability. Exit times currently exceed 43 days, while more than one million validators have staked 35.6 million ETH.

Industry executives voiced concern, noting Solana’s unstaking takes two days versus Ethereum’s six-week waiting period. Galaxy Digital’s head of DeFi called Ethereum’s delays “troubling,” before deleting his remarks amid speculation of internal pressure. Buterin acknowledged the problem, promising Ethereum Foundation improvements, though warned reforms would require gradual upgrades to protect validator security.

BNB Hits $1,000 as Altcoins Outpace Bitcoin

Binance Coin reached $1,000 for the first time before easing slightly, highlighting altcoin strength relative to Bitcoin. Market reactions followed the Federal Reserve’s 25 basis point cut, which reduced rates to a 4-4.25% range. Traders said liquidity rotated into altcoins, lifting Solana, Ethereum, and XRP, while Bitcoin’s upside appeared more constrained.

Analysts said further momentum depends on clearer Fed guidance, with risks of reversal if policy expectations shift unexpectedly. ETF inflows slowed, with US Bitcoin funds recording outflows while Ethereum remained flat. Binance co-founder Changpeng Zhao celebrated BNB’s milestone, thanking supporters and emphasizing community resilience since the project’s launch eight years ago.

SEC Accelerates Approval of Crypto ETF Listings

The US Securities and Exchange Commission approved new standards expediting the listing of crypto ETFs on major exchanges. The rules allow eligible products to list without lengthy 19b-4 filings, reducing timelines from 240 to 75 days. SEC Chairman Paul Atkins said the decision fosters innovation and investor choice, while preserving safeguards in regulated markets.

The accelerated framework benefits dozens of pending funds tracking assets from Solana to XRP, Dogecoin, and Ethereum. Analysts said approvals could open the market considerably, with Bitwise CIO Matt Hougan calling it a fundamental development. The SEC also approved Grayscale’s Digital Large Cap Fund, primarily holding Bitcoin and Ethereum with several altcoin allocations.

Data of the Day

Kalshi reported $1.3 billion in monthly volume, surpassing Polymarket’s $773 million and claiming 62% global market share. The CFTC-regulated exchange said performance represents rapid growth compared to one year earlier, when Kalshi controlled just 3%. Executives said the surge reflects rising institutional interest in prediction markets, particularly after last year’s US election cycle.

Polymarket remains competitive, preparing a US relaunch through QCEX while maintaining decentralized, crypto-native operations abroad. Both platforms now dominate the space, offering bets on politics, markets, and sports. Analysts said investor demand is growing as prediction markets converge with finance and entertainment, with valuations expected to climb significantly higher.

More Breaking News

• Hyperliquid’s HYPE token reached a record high of $59.29 after surging 40% this month, as Binance founder Changpeng Zhao publicly promoted rival DEX token ASTER.
• Coinbase launched USDC lending powered by Morpho and Steakhouse Financial, combining yield-earning deposits with onchain infrastructure under a familiar fintech interface.
• PayPal’s PYUSD expanded to Tron, Avalanche, and Sei through LayerZero, introducing PYUSD0 as a fully fungible stablecoin on seven additional blockchain networks.
• Bitcoin ETFs ended a seven-day inflow streak with $51 million in outflows, reflecting healthy rebalancing after massive gains from last week.
• Kraken partnered with ICO platform Legion to launch MiCA-compliant token sales on its new Launch platform, prioritizing curated offerings over volume chasing.
• DBS Bank, Franklin Templeton, and Ripple announced trading and lending plans for tokenized money market funds collateralized with RLUSD on the XRP Ledger.
• Australia’s top financial regulator granted licensing relief for stablecoin intermediaries, marking the first such exemption in the country’s evolving crypto rulebook.

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