Will Dogecoin ETF Launch Soon? Bitwise Filing Triggers Market Frenzy

Dogecoin, once seen as a joke in the world of cryptocurrency, is now making serious strides in the financial world. Driven by social media buzz and high-profile endorsements, the meme coin has seen its price skyrocket from a single tweet by Elon Musk.

Now, with Bitwise filing an S-1 registration with the SEC for a Dogecoin Exchange-Traded Fund (ETF), the coin is closer than ever to being recognized as a legitimate financial asset. This move is stirring excitement in the crypto market and highlights growing confidence in Dogecoin’s potential.

The Growing Demand for DOGE ETF

Bitwise’s S-1 filing follows an earlier registration in Delaware, reinforcing its commitment to launching a Dogecoin ETF. Other firms like Osprey Funds and Rex Shares have also submitted their own proposals, showing the increasing demand for a regulated investment option for Dogecoin.

However, despite the excitement, Dogecoin’s price dropped by 4% after the news, reflecting investor uncertainty. Many are cautious due to the unclear regulatory environment surrounding meme coins, which makes some investors hesitant.

How Trump Is Boosting Dogecoin

Dogecoin’s rise is also linked to political changes, especially within the Trump administration. The creation of the Department of Government Efficiency under President Trump has sparked hopes for more crypto adoption. Last week, Trump signed an executive order to form a working group focused on developing a federal regulatory framework for digital assets.

Additionally, Trump’s appointment of crypto-friendly Paul Atkins to lead the SEC further suggests that the U.S. could see regulatory changes that favor digital assets, boosting optimism around Dogecoin.

Dogecoin’s Market Position

Dogecoin is currently trading at around $0.32, with a market cap of $47 billion. Bitwise CIO Matt Hougan has pointed out the strong demand for Dogecoin investments, noting that it is the sixth-largest cryptocurrency by market cap, with daily trading volumes over $1 billion.

Although Dogecoin has seen a slight 0.8% decline in the last 24 hours, it remains a popular choice among retail traders.

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As a low-cap asset, a Dogecoin ETF could be a game-changer. If approved, it could increase Dogecoin’s credibility and attract institutional investors. Crypto analyst Ali Martinez believes that if the ETF is approved, Dogecoin’s price could surge to $15, calling it an excellent buying opportunity while the price is still below $1. For many, this could lead to significant long-term returns by accumulating the coin at its current price.

Time will tell whether Dogecoin and other meme coins can hold their ground. The crypto markets can be unforgiving.