The approval of Bitcoin and Ethereum spot ETFs in the United States can be considered the biggest news for the crypto and traditional financial markets in 2024. With Trump about to lead a crypto-friendly White House, will 2025 see the emergence of a Dogecoin (DOGE) ETF?
ETF platform ETF Store President Nate Geraci stated, "Under the new government, I believe everything is an option that can be pushed forward."
When elected president, Trump claimed to be a leader who supports cryptocurrencies, hoping to make the United States the "Bitcoin capital of the world." He even established the "Department of Government Efficiency" (DOGE, named after Dogecoin), led by Dogecoin superfan and billionaire Elon Musk. Nate Geraci stated
Market expectations are that the new government will quickly take action to designate which crypto assets are securities and which are not. Once such a framework is established, the path to approving more cryptocurrency spot ETFs should become clearer.
Fund managers are working hard to accelerate the listing of new ETFs. The stock exchange Cboe BZX submitted four proposals related to Solana funds last week, and some experts believe that a Solana ETF is expected to be listed in 2025. Cryptocurrency analyst Louis Sykes stated:
I am quite confident that we will see Solana ETF trading in the first half of 2025. The possibility of Dogecoin DOGE is much smaller, as Wall Street prefers assets that did not arise from memes.
Although Dogecoin was initially created as a joke, it has grown to become the 7th largest cryptocurrency by market capitalization. According to CoinGecko market data, as of the time of writing, Dogecoin's trading price is approximately $0.43, with a market cap close to $64 billion.
Bloomberg ETF analyst Eric Balchunas stated, "Today's irony is tomorrow's ETF. You might ask, is Dogecoin far off? I think we will see it, because some people will say, why not give it a try?"
Two Prime Digital Assets CEO Alexander Blume stated that there will definitely be fund companies applying to issue a Dogecoin ETF, "due to the great success of the Bitcoin ETF, innovative financial companies will seek to create any potentially successful product. But whether they can get approval is another matter."
Dogecoin may find it difficult to prove that it is a fair market, as the holders of Dogecoin are highly concentrated. However, Alexander Blume stated that he believes under Trump's administration, the overall regulation by the SEC will be more lenient, "therefore they might receive approval sooner than we expect."
SEC Chairman Gary Gensler is seen as a thorn in the side of the cryptocurrency industry, and he plans to step down on January 20, 2025.
On the other hand, former Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo is expected to become the first "Crypto Czar" in the United States, responsible for cryptocurrency policy. He revealed earlier that ending the suppression of the crypto space would help it mature and move towards a more prosperous development period.
"Is a 'Dogecoin ETF' expected in 2025? Experts say..." This article was first published on (Blockcast).
