In 2024, we welcomed a significant milestone with the approval of Bitcoin and Ethereum spot ETFs in the U.S. With Trump officially elected, the SEC is expected to be led by crypto-friendly officials, and many experts believe that more cryptocurrency ETFs will receive SEC approval next year, including the most promising ones like SOL, XRP, LTC, and other related ETFs.
So will we see the king of meme coins, Dogecoin (DOGE), listed as an ETF in the U.S. by 2025? This topic has sparked discussions among ETF experts in the community.
Experts wonder why no one has applied for a Dogecoin ETF yet.
Today (23rd), Nate Geraci, president of The ETF Store, expressed his confusion on Twitter regarding why there are still no ETF issuers applying for a Dogecoin ETF.
It is shocking that ETF issuers have not applied for a Dogecoin ETF yet... what are the downsides? The worst-case scenario is that this is a marketing expense.
I wonder which company will end up with the 'DOGE' stock symbol.
In response to this question, Bloomberg senior ETF analyst Eric Balchunas also agreed, pointing out that:
Agreed. I originally thought we would see someone apply by Christmas. Perhaps we will have to wait until Trump/SEC new chair Paul Atkins officially takes office.
Is the likelihood of a Dogecoin ETF listing high?
Notably, according to The Block, despite some analysts being pessimistic about the approval of a Dogecoin ETF because Wall Street institutions prefer assets that did not originate as memes, Bloomberg analyst Eric Balchunas believes we will eventually see the emergence of a DOGE ETF. He commented at the end of November:
Today's irony is tomorrow's ETF. You can ask yourself whether a DOGE ETF is far off. I would say we will see a DOGE ETF; I think someone will try it because why not?
Alexander Blume, CEO of Two Prime Digital Assets, pointed out that there will definitely be institutions applying to issue a Dogecoin ETF.
With the tremendous success of the BTC ETF, entrepreneurial financial firms will seek to create any potentially successful products. Whether they will get approved is another matter. Dogecoin may struggle to prove it is a fair market due to its highly concentrated holdings.
However, I do believe that the incoming SEC management will generally be more lenient, so a DOGE ETF may be approved earlier than we expect.
The world's first Dogecoin-related ETP fund has been listed in Sweden. The issuer, Valor, is optimistic that the recent results of the U.S. elections will further catalyze market demand for Dogecoin investments, thus providing Nordic investors with an opportunity to invest in Dogecoin.
DOGE has dropped 30% in the last two weeks.
In terms of price, after Trump's election and the joint leadership of Dogecoin by the top supporter Musk in the government efficiency department, Dogecoin soared from less than $0.2 before the election to $0.475 in early December, but has recently shown signs of weakness, falling nearly 30% in the last 14 days, briefly plunging to $0.267 on the 20th, and currently reported at $0.317, up 3% in the last 24 hours.
If a Dogecoin ETF is indeed approved for listing in the U.S. in the future, it is expected to attract considerable capital inflow, and its price is likely to challenge the historical high of $1, which may also increase institutional interest in applying for meme coin ETFs.
