Asset management companies have been pushing for exchange-traded funds (ETFs) to allow investors to invest directly in major cryptocurrencies beyond Bitcoin (BTC) and Ethereum (ETH). However, so far, no investment manager supporting cryptocurrencies has introduced a Dogecoin ETF to Wall Street investors.
ETF Store President Nate Geraci stated that the failure to file for a DOGE exchange-traded fund is not only a missed financial opportunity but also a marketing blunder for companies unwilling to embrace the original meme cryptocurrency.
Will Dogecoin ETF launch in 2025?
The spot Bitcoin ETF was approved this January, but the first application was submitted to the U.S. Securities and Exchange Commission (SEC) over a decade ago, and the approval process was marked by a lawsuit initiated by one of the asset management companies.
Since the SEC unexpectedly approved the spot Ethereum ETF, several asset management companies have sought approval for spot ETFs covering Ripple's XRP, Solana's SOL, and Litecoin's SOL.
But what about the meme coin created as a joke in 2013? The ETF Store president expressed his "shock" that no one has submitted a DOGE ETF application to date, even outside the U.S.
"What's the downside? The worst-case scenario is that it's a marketing expense," Geraci pointed out. "We don't know which issuer holds 'DOGE' stocks."
Dogecoin has become the leader in the meme coin industry, mainly thanks to the steadfast support of SpaceX/Tesla CEO Elon Musk. Although Dogecoin is inherently fun, it has witnessed actual use as a peer-to-peer currency. However, does the dog-themed meme coin really have a chance of obtaining a spot ETF in 2025?
The Road Ahead
Bloomberg senior ETF analyst Eric Balchunas agrees with Geraci's view, stating that several asset management companies are expected to apply for a Dogecoin ETF before Christmas. However, he noted that the inauguration of U.S. President Donald Trump may encourage asset management companies to submit filings for a spot Dogecoin ETF.
Moreover, cryptocurrency supporter Paul Atkins' formal appointment as chairman of the U.S. Securities and Exchange Commission will significantly increase the chances of DOGE ETF approval.
"If I were in Las Vegas, my favorite $DOGE stock reserve would be Venuto. That said, Tuttle is my favorite ETF to apply for," Balchunas added.
The changing regulatory environment may be favorable for a potential DOGE ETF, especially since the U.S. will experience significant leadership changes next year. Cryptocurrency commentators and investors believe that cryptocurrency adversary Gary Gensler is about to step down as chairman of the SEC, paving the way for more cryptocurrency-based spot ETFs.
