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Rex-Osprey has entered the spotlight with the debut of its Dogecoin ETF, known as DOJE, which quickly delivered strong trading volumes on its first day. The ETF, which started alongside the firm’s XRP ETF, showed significant investor demand and positioned itself among the top five exchange-traded fund rollouts of the year.
Not stopping there, Rex-Osprey has already filed with the U.S. Securities and Exchange Commission (SEC) for a leveraged version of the fund. The proposed product, named the REX DOJE Growth & Income ETF, aims to provide investors with greater exposure to Dogecoin but comes with considerably higher risk.
Strong Start for DOJE ETF
The DOJE ETF marked its first trading session with approximately $17 million in trading volume, according to Bloomberg ETF analysts. This placed the fund among the top five ETF starts of 2025 so far, underscoring significant investor appetite for altcoin-focused exchange-traded products.
On the same day, Rex-Osprey also rolled out its XRP ETF, which saw even stronger demand with nearly $38 million in volume. While XRP led in terms of inflows, DOJE’s debut still stands out as one of the most successful altcoin ETF starts in recent years.
The dual starts highlight the growing demand from U.S. investors seeking regulated, accessible exposure to major cryptocurrencies beyond Bitcoin and Ethereum.
Filing for a Riskier Leveraged Fund
Soon after DOJE’s debut, Rex-Osprey filed to introduce a more complex product: the REX DOJE Growth & Income ETF. This fund is designed to provide between 1.05x and 1.5x daily exposure to the performance of the original DOJE ETF.
Unlike traditional ETFs, leveraged products amplify daily returns—both gains and losses. The firm emphasized in its filing that the fund is “very different from most other exchange-traded funds” and is only suitable for knowledgeable investors who understand the risks of leverage.
The Growth & Income ETF will combine three elements:
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Leveraged long exposure to the underlying DOJE ETF.
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A covered call strategy to generate income.
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Investment in short-term Treasuries or money market funds to provide additional stability.
Weekly Distributions for Investors
One of the unique features of the proposed Growth & Income ETF is its weekly distribution plan. The primary goal of the fund is to generate regular income for investors, while its secondary objective is to deliver leveraged daily returns based on DOJE’s performance.
This structure may appeal to income-focused investors who are also seeking exposure to digital assets. However, the fund’s documentation warns that distributions are not guaranteed and depend on the successful execution of its strategy.
Risks of Leveraged Crypto ETFs
While leveraged ETFs attract investors looking for higher returns, they also carry substantial risks. Because the Growth & Income ETF is designed to reset daily, its long-term performance may not match the leveraged multiple of DOJE’s cumulative returns.
For example, if DOJE remains flat over several days, the leveraged ETF could still generate losses due to compounding effects. Similarly, even if DOJE trends upward over a week or month, the leveraged fund may underperform if the daily movements are volatile.
Rex-Osprey clearly stated in its prospectus that the product is not suitable for all investors, and only those willing to closely monitor their portfolios should consider it.
Market Context: Dogecoin’s Performance
The timing of DOJE’s debut and the filing for a leveraged version comes as Dogecoin itself is showing mixed performance in the broader crypto market.
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In the last 24 hours, Dogecoin’s price has fallen about 6%, trading near $0.265.
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Over the past month, however, DOGE has gained more than 22%, reflecting renewed investor interest.
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Despite this recovery, the token remains roughly 64% below its all-time high of $0.73 reached in 2021.
This volatility underscores why leveraged ETFs tied to Dogecoin carry heightened risk. For investors, the opportunity for amplified returns comes hand in hand with the possibility of accelerated losses.
Growing Investor Interest in Altcoin ETFs
The start of DOJE and XRP ETFs signals increasing acceptance of cryptocurrency-based financial products within U.S. markets. While Bitcoin and Ethereum remain the largest players, demand for diversified exposure to other digital assets is clearly on the rise.
For Rex-Osprey, the success of these products could open the door to additional ETF offerings in the future, giving investors more choices in how they participate in the crypto economy. The leveraged DOJE Growth & Income ETF, if approved, would add a higher-risk option to this growing lineup.
Summary
Rex-Osprey’s Dogecoin ETF, DOJE, made a strong debut with over $17 million in trading volume, landing among the top five ETF start of 2025. The simultaneous success of its XRP ETF further demonstrated investor appetite for regulated crypto exposure.
Looking ahead, the firm’s filing for the REX DOJE Growth & Income ETF introduces a riskier leveraged play that offers potential for amplified gains, weekly distributions, and income generation strategies. However, the product comes with significant risks, making it suitable only for experienced investors.
As Dogecoin continues to attract attention in both crypto markets and traditional finance, the expansion of ETF products tied to it highlights the evolving relationship between digital assets and mainstream investment vehicles.
