NYSE Arca Files to List Bitwise Dogecoin ETF – Will the SEC Approve?

Dogecoin, the internet’s favorite memecoin, might soon get a major Wall Street upgrade. NYSE Arca has officially filed to list the Bitwise Dogecoin ETF, bringing the popular cryptocurrency one step closer to a regulated investment product. If approved, this ETF would allow both institutional and retail investors to gain exposure to Dogecoin—without the hassle of holding it directly.

The exchange submitted a 19b-4 filing on March 3, kicking off the process for potential approval by the U.S. Securities and Exchange Commission (SEC). coinbase coinbase - support@coinbase.com WalletCentralised Exchange will serve as the custodian, while the Bank of New York Mellon will handle cash custody and administration.

Investors Bet on Approval, But the SEC Holds the Key

Confidence in a Dogecoin ETF is growing. Prediction market platform Polymarket currently gives it a 67% chance of approval, while Bloomberg analysts are even more optimistic, estimating a 75% likelihood by 2025. This reflects increasing acceptance of crypto-based investment products.

However, the final decision is still in the hands of the SEC, and approval is not guaranteed.

Dogecoin Price Drops Despite ETF Hype

Despite the growing optimism, DOGE has plunged over 15%, dropping to $0.19 amid broader market volatility. The trading volume has also dropped 16.80%, indicating weaker market activity. This decline came after the excitement surrounding Donald Trump’s crypto reserve announcement, which briefly boosted sentiment. The overall market downturn has erased those gains, showing that ETF speculation alone isn’t enough to sustain Dogecoin’s price rally.

More Altcoin ETFs Under Review

Dogecoin isn’t the only cryptocurrency in line for an ETF. Nasdaq has also filed to list the Grayscale Hedera Trust, which would track HBAR’s price. Meanwhile, the SEC is reviewing ETF proposals for other major altcoins, including Cardano (ADA), Solana (SOL), Polkadot (DOT), Litecoin (LTC), and XRP.

This wave of applications suggests that both memecoins and established altcoins are gaining traction in the regulated investment space.

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What’s Next for Dogecoin’s ETF Approval?

With the SEC now reviewing both Bitwise’s Dogecoin ETF and Grayscale’s Dogecoin Trust, the next few months could be critical. A final decision on the Grayscale Dogecoin Trust is expected by mid-October, which could influence future ETF approvals. However, until the SEC makes a decision, Dogecoin’s price is likely to stay volatile.

A green light from regulators could change the game—but until then, Dogecoin remains at the mercy of market forces.