Group 1: ETF Launch and Performance - The Rex Shares-Osprey Dogecoin ETF (DOJE) is the first ETF in the U.S. linked to a meme coin, launched on September 18, 2025, and recorded approximately $6 million in trading volume within the first hour [1][4][6] - Eric Balchunas initially estimated a trading volume of $2.5 million for the first day, which he considered respectable but not exceptional; however, the actual volume significantly exceeded his expectations [2][5] - The strong debut of DOJE is notable as most ETFs typically trade under $1 million on their first day, indicating a robust market interest [5][6] Group 2: Market Context and Implications - The approval of the Dogecoin ETF under the Investment Company Act of 1940, rather than the Securities Act of 1933, may limit investor interest compared to previous crypto ETF launches [2] - The trading performance of DOJE reflects a growing retail interest in meme coins, challenging the conventional wisdom that cryptocurrencies without utility would struggle to gain traction [9] - Dogecoin was trading at $0.2825, showing an increase of over 6% in the last 24 hours, indicating ongoing demand for meme coins [9]