Neptune Acquires DOGE Ahead of Potential ETF Launch

The DOGE purchase took place on December 27, 2024, via a strategic derivatives deal at $0.37 per token (with the current price hovering at $0.27). This move solidifies Neptune’s long-term crypto ambitions and raises questions about a possible Dogecoin ETF.

As stated in previous news releases, Neptune will be acquiring additional assets, leveraging our enhanced purchasing power through the Sygnum credit line. With a strong focus on BTC, these initial acquisitions show Neptune's commitment to its growth strategy while meticulously managing leverage risk and debt levels,

Cale Moodie, Neptune's CEO, expressed.

Neptune Digital Assets has officially become the second public company to buy DOGE, right after Spirit Blockchain. The timing of this reveal? Just as Bitwise filed for a spot DOGE ETF with the SEC. But don’t get too excited—it’s likely just a lucky overlap, considering when the coins were actually bought.

According to Matt Hougan, Bitwise’s CIO, Dogecoin still enjoys massive popularity, and the introduction of an ETF could lure in both institutional investors and major corporations. And Bitwise isn’t alone—Osprey Funds and Rex Shares are also gearing up to launch their own DOGE ETFs soon.