Dogecoin (DOGE) is witnessing a surge in institutional interest, mostly fueled by growing optimism over the potential approval of multiple DOGE spot ETFs and regulatory clarity in the U.S. This trend is underscored by significant investments from major companies, with Remixpoint, a Tokyo-based energy consulting firm, ramping up its crypto holdings over the past year. According to an earnings report published Friday, Remixpoint’s crypto holdings surged from just $446,500 on March 31, 2024, to $38 million by December 31, 2024. By February 2025, the company had expanded its crypto portfolio to approximately $59.1 million, representing a 13,000% increase in just nine months, as it moves closer to its $65 million investment target. Notably, the company’s diversified cryptocurrency portfolio includes substantial holdings in Bitcoin, Ethereum, Solana, XRP, and Dogecoin. This strategic move, similar to fellow Japanese company Metaplanet, which has been doubling down on Bitcoin , aims to hedge against the declining value of the yen and broaden Remixpoint’s financial assets. Once regarded primarily as a speculative cryptocurrency propelled by retail traders and online communities, Dogecoin is now gaining traction among institutional investors. Remixpoint’s inclusion of DOGE in its portfolio highlights the evolving perception of the cryptocurrency, which has transitioned from a meme coin to a functional digital asset with expanding real-world applications in payments and blockchain-based innovations. This trend extends beyond Remixpoint. Neptune Digital Assets, a publicly traded Canadian blockchain company, purchased approximately 1 million DOGE tokens for $258,000 in December 2024, reinforcing its position in the cryptocurrency market. Elsewhere, last November, Spirit Blockchain Capital acquired Dogecoin Portfolio Holding Corp to expand Dogecoin’s ecosystem and utility. However, the acquisition focused on intellectual property and cash assets rather than direct DOGE holdings on its balance sheet. Similarly, in July 2022, Tesla CEO Elon Musk confirmed that the company had not sold any of its Dogecoin holdings, though the exact amount remains undisclosed. Notably, Tesla began accepting Dogecoin for select merchandise in December 2021, reinforcing Musk’s ongoing support for the cryptocurrency. That said, the surge in interest for DOGE comes amid discussions surrounding the potential approval of Bitwise, 21Shares, and Grayscale Dogecoin ETFs by the SEC. If approved, these ETFs could further strengthen Dogecoin’s presence in financial markets, potentially boosting its price. At press time, DOGE was trading at $0.17, reflecting a 7.01% surge in the past 24 hours.
