Asset managers are actively seeking to launch exchange-traded funds (ETFs) that provide investors direct access to several major cryptocurrencies beyond just Bitcoin (BTC) and Ethereum (ETH). Yet, surprisingly, no one has proposed a Dogecoin ETF for Wall Street investors. This absence has left industry experts, like Nate Geraci, the president of ETF Store, scratching their heads. He believes that the lack of a DOGE ETF not only represents a lost financial opportunity but also a significant marketing oversight for firms hesitant to champion Dogecoin, the original meme cryptocurrency.
Is A Dogecoin ETF Awaiting Us in 2025?
After the green light for spot Bitcoin ETFs was granted this past January, it’s important to recognize that the first ETF application had been waiting for approval at the U.S. Securities and Exchange Commission (SEC) for over a decade—complete with a lawsuit initiated by an asset management firm. Following that, the SEC unexpectedly approved spot Ethereum ETFs, prompting several companies to seek approval for spot ETFs related to Ripple’s XRP, Solana’s SOL, and Litecoin. The glaring question remains: what about the whimsical coin that started as a joke back in 2013?
Geraci voiced his astonishment at the lack of DOGE ETF applications, even from outside the United States. He pointed out, “What’s the downside? Worst case, it’s a marketing expense.” This thought-provoking perspective leads us to wonder which issuer might be eyeing the coveted “DOGE” ticker.
Over the years, Dogecoin has steadfastly maintained its position as the reigning champion in the meme coin sector, largely thanks to the relentless advocacy of Elon Musk, CEO of SpaceX and Tesla. Although it carries a playful reputation, DOGE has shown real utility as a peer-to-peer currency. The pressing question looms: can this dog-themed coin genuinely secure a spot ETF by 2025?
The Path Forward
Bloomberg’s senior ETF analyst, Eric Balchunas, shares Geraci’s sentiments. He anticipates that by Christmas, we might see numerous asset managers applying for DOGE ETFs. However, he notes that the upcoming inauguration of president-elect Donald Trump could serve as a catalyst for asset managers to get moving on their Dogecoin ETF applications.
Moreover, the expected appointment of Paul Atkins as the new SEC Chairman will likely enhance the probability of DOGE ETF approvals. Balchunas expressed, “If I’m Vegas, my favorite for the ‘DOGE’ ticker is Venuto. That said, Tuttle is my fav to file for the ETF.”
All eyes are on the changing regulatory environment, which could herald an exciting era for potential DOGE ETFs. With significant shifts in leadership on the horizon in the United States, many crypto enthusiasts and investors are optimistic that the anticipated departure of crypto skeptic Gary Gensler from the SEC could pave the way for an increase in spot crypto-based ETFs.
So, as Dogecoin continues to capture the hearts of many, we eagerly await 2025 to see if it can truly make its mark in the ETF domain. Will we soon see DOGE strutting its stuff on Wall Street? Only time will tell!
