The idea of ​​an exchange-traded Dogecoin ETF is making the rounds on social media as hopes grow for the potential approval of Ethereum spot ETFs, which crypto experts believe could usher in the door to other crypto funds.

The opportunity for a Dogecoin ETF is “brighter than ever”

Cryptocurrency venture capitalist Andrew Kang mentioned in an X post that “the opportunity for a DOGE ETF is clearer than ever” as regulation for the crypto industry seems imminent. go out. Kang is referring to the 21st Century Financial Technology and Innovation Act (FIT21) which aims to give more responsibility to the Commodity Futures Trading Commission (CFTC).

This is not the first time Kang has discussed the possibility of a Dogecoin ETF being approved. In March, the cryptocurrency expert mentioned that there was a 30% chance that an investment fund related to the leading meme coin would be approved. 

Furthermore, he highlighted Donald Trump's re-election and Dogecoin being the “most decentralized” altcoin as factors that could aid in the approval of a DOGE ETF. Meanwhile, in January, he mentioned that Dogecoin is one of the coins with the largest market cap ever to have a presale and has never been considered a security, which is why it deserves has a separate ETF.

Kang is also more confident about Dogecoin ETF approval thanks to recent developments, suggesting that the SEC is likely to approve a spot Ethereum ETF. He mentioned in a recent post on government cryptocurrency.

Cryptocurrency expert Anthony Pompliano also believes that the approval of a spot Ethereum ETF could be the start of great things for the crypto industry.

“They are approving the entire industry if they approve the Ethereum ETF. This is the last dam that needs to be breached,” he declared.

This positive sentiment could push DOGE to new highs

There is no doubt that the Dogecoin price could rise to new heights if the launch of a Dogecoin ETF becomes a reality. It is clear that the price of a cryptocurrency can react positively just from the hype surrounding the potential approval of an ETF, as seen with the price of Bitcoin before spot Bitcoin ETFs were approved.

More recently, Ethereum's price surged following news that the SEC had changed its stance and was open to approving spot Ethereum ETFs. Therefore, the DOGE price can be expected to experience a significant price increase if an application for approval of a Dogecoin ETF is filed with the SEC.

DOGE Price Chart | Source: Tradingview

According to data from IntoTheBlock, the total value of large DOGE transactions, exceeding $100,000, has nearly doubled in the past 24 hours, from $1.53 billion to a staggering $3.01 billion. . This resulted in a significant increase in the volume of DOGE moved from 9.74 billion to 17.97 billion tokens.

Source: IntoTheBlock

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