Dogecoin ETF To Make Debut, CBOE Approves Bitcoin and Ether Futures, and Forward Industries Launches Solana Treasury

Takeaways

• REX Shares and Osprey Funds' Dogecoin ETF is set to begin trading this week, marking a win for the memecoin community: Trading under the ticket "DOJE," it is the first US ETF explicitly designed to hold Dogecoin, which has no stated utility.
• Cboe Global Markets plans to launch continuous bitcoin and ether futures: The contracts will reportedly be able to run for up to 10 years, use daily cash settlements, and be tied to real-time spot prices.
• Ant Digital has linked $8.4 billion of Chinese renewable infrastructure to its AntChain blockchain: The Jack Ma-backed firm has raised $42 million through tokenized financing for three projects and demand will likely be primarily institutional.
• Forward Industries said it has secured a $1.65 billion PIPE led by Galaxy Digital and Jump Crypto to seed a Solana treasury: The funding will bankroll Forward’s plan to build an institutional stockpile of SOL, with hopes of the company becoming a major public treasury in the Solana ecosystem.

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First Dogecoin ETF To Launch in US

The Dogecoin ETF is similar to other token related funds, such as ether ETFs, which are centered around the asset’s onchain use cases. However, as a proof-of-work token, Dogecoin’s proponents have argued it may have stronger fundamentals than proof-of-stake memecoins. Rexshares and Osprey Funds leveraged The Investment Act of 1940 to receive SEC approval for the listing, which differs from other Bitcoin ETFs that gained approval under the Securities Act of 1933.

Analysts anticipate the new fund will attract interest primarily from retail investors. The listing comes as the SEC reportedly continues to make its way through a long backlog of crypto ETF filings. This week, the agency delayed a decision to approve Ethereum staking ETFs, as well as Solana and XRP ETFs, respectively.

Cboe Announces Listing of Continuous Bitcoin and Ether Futures

The futures will differ from standard futures in that they do not require rolling position from month to month, but instead will have long-dated contracts which can persist for several years. This will also reportedly allow users to have reduced costs on maintaining their positions.

The contracts will be settled in cash, and use real-time spot price monitoring. Clearing will take place through the firm’s CFTC-regulated clearing house, Cboe Clear US, with the maximum length of a contract capped at 10 years. The futures look poised to cater to a growing segment of both retail and institutional crypto investors looking to make use of crypto derivatives.

Since it entered the bitcoin futures market in 2017, Cboe has continuously developed new products catering to recently-renewed demand in the space. The launch still needs regulatory approval before going live, with an expected date of November 10 for clearing all regulatory requirements.

Jack Ma-Backed Ant Digital to Tokenize $8.4 Billion of China’s Energy Assets

The project connects real-time output and status from roughly 15 million devices, including solar panels and wind turbines to record data immutably on the blockchain.

As electricity is sold, token holders will reportedly receive prorated distributions tied to those revenues. The model will reportedly relay production data onchain, with checks in place to verify readings before they are committed to the blockchain.

The tokenization strategy could improve transparency and efficiency through automating payouts via blockchain-based smart contracts. Analysts suggest the tokenized offerings are likely to attract institutional investors first, while retail demand may need to be met later due to regulatory requirements.

Galaxy Leads $1.65 Billion PIPE to Fund Forward Industries’ Solana Treasury

The financing package is led by Galaxy Digital, Jump Crypto, and Multicoin Capital, with additional participation from a number of other backers. The funding will reportedly be a mix of fiat and stablecoins, giving Forward Industries an immediate capital injection to acquire SOL.

According to the firm, the Solana strategy will combine capital deployment with strategic support from its backers, aiming to make Forward a leading institutional participant in the Solana ecosystem. The move could allow the company to capture profit from Solana’s developer activity, and growing onchain use cases, while providing investors exposure to an institutionally-managed SOL treasury.

Institutional capital is continuing to flow into crypto treasuries, however companies have mostly prioritized bitcoin and ether. If the strategy is successful, Forward could become a leader in the emerging Solana treasury space.

-Team Gemini