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ZyCrypto 2024-12-24 06:41:18

Dogecoin ETF Absence ‘Shocks’ Industry Pundit — Will DOGE Make Its Wall Street Debut In 2025?

Dogecoin ETF Absence ‘Shocks’ Industry Pundit — Will DOGE Make Its Wall Street Debut In 2025?

Asset managers have been pushing to list exchange-traded funds (ETFs) that give investors direct exposure to other major cryptocurrencies beyond Bitcoin (BTC) and Ethereum (ETH). However, none of the pro-crypto investment managers has so far filed to introduce a Dogecoin ETF to Wall Street investors. According to Nate Geraci, the president of the ETF Store, the absence of a DOGE exchange-traded fund filing is not only a missed financial opportunity but also a marketing mistake for firms that are reluctant to embrace the original meme cryptocurrency. Is A Dogecoin ETF Coming In 2025? Spot Bitcoin ETFs were greenlighted in January of this year, but the first application was filed with the U.S. Securities and Exchange Commission (SEC) over a decade ago, and the approval process was marked by a lawsuit unleashed by one of the asset managers. Since the SEC later unexpectedly approved spot Ethereum ETFs, several asset managers have sought approval for spot ETFs covering Ripple’s XRP , Solana’s SOL , and Litecoin (SOL). But what about the meme coin that was created as a joke in 2013? ETF Store President said he was “shocked” no DOGE ETF applications had been filed yet, even outside the US. “What’s the downside? Worst case, it’s a marketing expense,” Geraci noted. “Wonder which issuer is sitting on the “DOGE” ticker.” Dogecoin has emerged as the leader in the meme coin industry, mainly due to the unwavering support from SpaceX/Tesla CEO Elon Musk. Despite being playful in nature, DOGE has witnessed real use as a peer-to-peer currency. But does the canine-themed meme coin have a serious chance of securing a spot ETF in 2025? The Road Ahead Bloomberg’s senior ETF analyst Eric Balchunas agreed with Geraci, saying he expected several asset managers to have applied to issue DOGE ETFs by Christmas. Nonetheless, he suggested that the inauguration of U.S. president-elect Donald Trump will likely encourage asset managers to submit paperwork for spot Dogecoin ETFs. Furthermore, pro-crypto Paul Atkins officially taking his place as the chairman of the SEC will dramatically increase the chances of DOGE ETF approvals. “If I’m Vegas my favorite on reserver of $DOGE ticker is Venuto. That said Tuttle is my fav to file for the ETF,” Balchunas added. https://twitter.com/EricBalchunas/status/1870996999782437071 The evolving regulatory landscape could be a boon for potential DOGE ETFs, especially with the United States set to undergo major leadership changes next year. Crypto commentators and investors alike believe the impending exit of crypto enemy Gary Gensler as SEC Chair will pave the way for more spot crypto-based ETFs.

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