CleanCore Solutions buys more DOGE as first Dogecoin ETF draws near
Quick Take
- Earlier this week, CleanCore kicked off its Dogecoin treasury with an initial 285.4 million DOGE purchase.
- In Thursday’s after-hours market session, CleanCore’s stock spiked nearly 14% before paring gains.
Nasdaq-listed CleanCore Solutions has nearly doubled on its corporate Dogecoin treasury, taking its total holdings past 500 million DOGE, less than three days after making its first purchase of the memecoin.
CleanCore kicked things off with an initial 285.4 million DOGE purchase on Monday, when it also announced plans to acquire up to 1 billion DOGE within the next 30 days.
"Crossing the 500 million DOGE threshold demonstrates the speed and scale at which ZONE is executing its treasury strategy," said Marco Margiotta, chief investment officer of CleanCore and CEO of House of Doge. "Our vision is to establish Dogecoin as a premier reserve asset while supporting its broader utility across payments, tokenization, staking-like products, and global remittances."
The treasury was established with the House of Doge, the newly formed corporate arm of the Dogecoin Foundation. The company’s long-term objective is to secure up to 5% of the circulating supply of Dogecoin, the release states, positioning CleanCore as a "leading" digital asset treasury (DAT). The DOGE treasury is custodied on Bitstamp by Robinhood.
After closing at $3.98 per share, CleanCore's stock spiked up about 14% in Thursday's after-hours market session before paring most of those gains. The company has a market cap of $55 million.
First DOGE ETF
The news comes as the first spot Dogecoin exchange-traded fund is set to begin trading on Wall Street. While it was expected to debut today, Bloomberg analysts now anticipate the REX-Osprey DOGE ETF (ticker DOJE) will hit the market next week.
"They will hold spot. Just not for 100% of their holdings," Bloomberg Intelligence analyst James Seyffart said on X. "Will be a combo of spot and then they'll actually hold other spot ETFs too. SO the fund's goal is almost all spot exposure but the documents allow for flexibility to use derivatives if needed."
The price of dogecoin is up about 4% to $0.25 over the past 24 hours, according to The Block's DOGE price data.
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