ETF Store CEO Nate Geraci expressed surprise on Twitter on 12/23 that no ETF issuer has applied for a Dogecoin ETF, a sentiment echoed by Bloomberg analyst Eric Balchunas who also found it quite unexpected.
I originally thought there would be a Dogecoin ETF application around Christmas.
Balchunas stated that especially after Bitcoin and Ethereum-based cryptocurrency ETFs are gradually gaining market acceptance, he expected to see a Dogecoin ETF application around Christmas. But so far, no one has submitted one, which surprises him.
Balchunas explained that both retail investors and those in the cryptocurrency community have a large number of supporters for Dogecoin in the market, and everyone is looking forward to such meme coin ETFs, but the reaction from financial institutions has been unexpectedly slow.
Believes we have to wait for the Trump administration to fully take over before there is a chance.
According to Balchunas's analysis, he now believes that the application for a Dogecoin ETF may have to wait until the new SEC chairman Paul Atkins and the Trump administration officially take office. Balchunas pointed out that the policy direction under different SEC chairpersons varies significantly, and Atkins may adopt a more friendly attitude towards the cryptocurrency market, which would help the development of meme coin ETFs.
Previously, 21Shares CEO Hany Rashwan had indicated that the market is expecting the Trump administration to implement 'friendly crypto regulation', positively impacting the industry and leading to more cryptocurrency ETFs being launched in the U.S., and they have already reserved a trading code for the Dogecoin ETF. Perhaps we may really have to wait for the Trump administration to fully take office before we see many meme coin ETFs launched.
(21Shares: Trump's election drives demand for cryptocurrency ETFs, has reserved trading code for Dogecoin ETF)
This article Bloomberg analyst: questions why no Dogecoin ETF application has appeared by Christmas, may have to wait for the Trump administration to take office before seeing it. First appeared in Chain News ABMedia.
