Dogecoin ETF News Grabs Investors’ Attention

Ever since Bitcoin and Ethereum were approved for ETF listing, speculations sparked on the next crypto asset to hit classic trading desks.

While XRP exchange-traded funds are limited at some European financial institutions, all eyes are on Solana ETF and the recently trending Dogecoin ETF.

The new US Securities and Exchange Commission’s administration’s lenient stance toward decentralised securities and digital assets can potentially see more cryptos approved at US asset management firms. Shall we expect a Dogecoin ETF approval soon? Let’s find out.

Bitwise Dogecoin ETF

On 22 January, Bitwise, a US asset manager and one of the leading firms in issuing crypto-based ETF assets involving Bitcoin, Ethereum, Solana, and more, filed for DOGE ETF in the state of Delaware.

A state-level application precedes the nationwide discussion at the SEC. The Delaware registration entails presenting the governing body and control measures shaping the proposed listing, while the SEC approval gives the green light to start selling those assets.

The Dogecoin ETF news created doubts among market participants, as many memecoin announcements can be illegitimate. However, Bitwise confirmed the headline, saying, “This was from us”.

This comes after other asset management firms, such as Rex Shares and Osprey Funds, applied for an ETF listing that involved multiple cryptocurrencies. The application includes Dogecoin and the newly launched TRUMP coin.

DOGE Price Performance

Such listing usually spurs interest in the associated cryptocurrency, driving prices higher than usual, just like when Bitcoin ETFs were approved, and the coin outperformed its yearly average price.

This time, the Bitwise Dogecoin ETF headlines came with an undermining performance for the largest memecoin and 7th top cryptocurrency.

DOGE experienced higher interest last year, boosting its price from just under $0.1 to $0.46 and growing its market cap by 423%, peaking at $68 billion in December 2024.

However, this news comes while DOGE is experiencing a price correction, with the coin losing most of its January gains, falling from $0.43 to $0.35 as of writing. Therefore, Bitwise’s application approval can potentially spark interest and increase investor inflow and coin price.

DOGE and D.O.G.E.

As a speculative meme-inspired coin, DOGE investors were in suspense after Trump announced The Department of Government Efficiency, shortened as D.O.G.E., with the coin’s logo surfacing the website.

The logo was shortly removed from the site, but it left investors indecisive, especially with the highly pro-crypto Elon Musk leading the federal government agency. In fact, Elon Musk was the catalyst for the price surge in some memecoins, especially Dogecoin and Shiba Inu.

Conclusion

The Dogecoin ETF news is taking over after the leading asset manager, Bitwise, applied for DOGE exchange-traded funds. Such listing, if approved, can grab massive attention from traditional investors and centralised financial institutions, significantly boosting the coin’s price.

While the Delaware application is preliminary and DOGE is undergoing a bearish movement, the newly elected pro-crypto US government can spur confidence in digital assets and, eventually, boost crypto prices.

Disclaimer: This article is for informational purposes only. It is not finance advice and should not be relied upon for investment decisions. Always do your own research and consult a financial advisor before investing.