REX-Osprey Dogecoin ETF Launch Imminent: Will $DOGE Finally Break Out?

Wall Street meets meme coin as REX-Osprey prepares to launch the first Dogecoin ETF next week—potentially reshaping crypto's favorite joke-turned-asset.

The ETF Effect

Traditional finance's embrace of Dogecoin signals another maturation milestone for digital assets. The proposed fund would give institutional investors regulated exposure to DOGE without the hassle of direct custody—because nothing says 'serious investment' like a cryptocurrency started as a literal joke.

Price Impact Speculation

Market watchers anticipate volatility around the launch. Previous crypto ETF debuts have triggered both euphoric pumps and 'sell the news' dumps. DOGE holders hope this time will be different—just like they hoped during the last ten 'sure thing' catalysts.

Because nothing boosts credibility like letting suits in suits bet on an asset whose value derives from Shiba Inu memes and Elon Musk's tweet notifications.

Image source: Getty Images.

The market has its eyes fixed on 2026

Reporting fourth-quarter 2025 financial results on Thursday morning before the market opened, Endava beat analysts' bottom-line expectations. Investors, however, were more fixed elsewhere, focusing on the company's declining free cash FLOW (FCF) and on what the company had to say about the coming year -- not about the recent performance.

Endava had been on a streak from fiscal years 2021 through 2023 with respect to growing cash flow. After reporting adjusted FCF of 82.7 million British pounds in fiscal 2021, the company posted adjusted FCF of 107.2 million British pounds and 111.5 million British pounds in fiscal 2022 and fiscal 2023, respectively. The last two years haven't been as fortuitous. In fiscal 2024, Endava reported adjusted free cash Flow of 58.4 million British pounds, falling further to 48.7 million British pounds in fiscal 2025.

Investors also balked at management's guidance for fiscal 2026. Whereas Endava reported 772.3 million British pounds on the top line in fiscal 2025, management projects sales of 750 million British pounds to 765 million British pounds for the coming fiscal year.

Management sees a silver lining to the end of the fiscal year

While investors are disappointed with Endava's lackluster 2026 forecast, there's reason to be hopeful. In the press release announcing the quarterly results, John Cotterell, Endava's CEO, stated that the company ended the quarter with its "highest ever quarterly order book." Investors may not want to run out and buy shares solely based on this comment, but they may want to keep tabs on the company to see if it shows signs of returning to growth mode.