Dogecoin, a meme-based cryptocurrency created on a lark more than a decade ago, is now available to investors through the US public market. On September 18, investment fund management firms REX Financial and Osprey Funds jointly launched a dogecoin exchange-traded fund (ETF). “If you ignore stablecoins, dogecoin is the sixth largest [cryptocurrency] by market cap in the world,” Greg King, CEO and founder of REX and Osprey tells WIRED. The purpose of capital markets is to create a more efficient means of funding endeavors likely to return value to society, some analysts contend, and memecoins promise nothing of the sort. “This approval helps to maximize investor choice and foster innovation by streamlining the listing process and reducing barriers to access digital asset products within America’s trusted capital markets.”