Dogecoin (Doge), a cryptocurrency born as a parody of the Altcoins market, could be closer than ever to formally land on Wall Street through the context cited in the stock market (ETF). But is it realistic to believe that Doge ETFs will arrive?
It’s available to date Four active requests to launch ETFs based on Doge. According to financial ecosystems James Seifert and Eric Bulknath and Bloomberg Intelligence, approval for these financial vehicles is a very specific possibility, according to ETF analysts.
Seyffart and Balchunas were the first to accurately predict the date of approval for Bitcoin ETF cash in January 2024.
Both claim that the Bags and the Securities Commission (SEC) have a 90% chance Approve at least 3 ETFs based on DogeCoin The deadline for making a decision is until October 17th, 2025.
Experts see the same probability for other altcoin ETFs, such as Cardano (ADA), Polka Dot (DOT), Hedera (HBAR), and Avalanches (Avax).
Also, as reported by Cryptonotics, speaking of Litecoin ETF (LTC), Solana (Sun), XRP, Ripple Cryptocurrency guarantees that the probability of approval increases to 95%.
The following box gives you a better understanding of analysts’ predictions.
Five requirements companies
Requests to issue Doge’s ETFs were filed earlier this year by Bitise, Grayscale, Rex Shares, Osprey Funds and 21 share companies. Since then, the SEC has been conducting various proposal reviews.
The latest novelty comes from Bitwise. This presented an amended version of the S-1 form before the U.S. Stock Exchange and the Securities Commission (SEC), as reported by Cryptoics on June 25th.
This new document incorporates important changes. It may facilitate management of funds Increases the probability of approval.
The fact that the revised document has been presented is a good indication of the ETF. Because it means it is being reviewed by US authorities, It reflects the willingness to continue to evaluate proposals.
Generally, the context of regulations has changed, and the US Congress is You can play an important role in new legal proposals It could facilitate Doge’s ETF approval.
One of these, the Clarity Act, was presented to the House of Representatives on May 30th. The project is seeking to formally recognize cryptocurrencies as DOGE as “digital products.”
This regulatory advancement will provide greater legal certainty for the creation of financial instruments supported by cryptocurrencies such as Doge. Legal awareness in the market’s eyes This is one of the most relevant factors for lifting SEC decisions.
Another path to its origin
The path that follows Doge is in contrast to its origin. This cryptocurrency was launched in 2013 Like a satire of the Altcoins ecosystemwe are not going to compete with serious proposals such as Bitcoin.
However, it has been driven by frequent mentions of Tesla and SpaceX CEO Elon Musk since 2020. In fact, the appointment of the U.S. Government Office was affected. Its acronym is Doge (Government Efficiency Division).
However, it should be noted that for the cryptocurrency user community and investors, the only big names were corrupt dogcoins. As reported by Cryptonoths, some “musk has “distorted and even destroyed the main themes behind the currency and its name.”
Due to the influence of masks, Doge’s market capitalization has grown sustainably. It currently exceeds $260 million. Moreover, the asset remains the ninth most valuable cryptocurrency in the market.
Do Doge ETFs affect price?
ETF expectations are reflected in price technical actions. Last year, Doge bouncing three times on the uptrend line, which was pulled from the lowest price. This pattern is used by technical analysts to detect bullish trends.
A minimal high rebound suggests that Doge demand remains solid and, as reported by Cryptootics, market structure integrates a robust support base.
In that sense, ETFs based on DOGE can have several impacts on the market. On the one hand, institutional investors will be able to directly touch the assets without having to acquire and store cryptocurrencies. Meanwhile, Doge’s fluidity will increase It expands its presence in the traditional financial ecosystem.
Although ETF approvals do not guarantee a sustained increase in prices, historically these events have positively impacted the value of the underlying assets. In the case of Bitcoin, from his ETF approval to cash Prices rose 150%.
Members of the DogeCoin community are already visualizing more ambitious scenarios. An influencer known as Doge Capital, presented as a financial educator, claims Doge could reach $10 in this market cycle. Exaggerated and difficult predictions to adhere to.
Now Doge is not Bitcoin. They are completely different assets, both in purpose and foundation. Although BTC is designed as a decentralized digital currency with limited supply and an approach to safety and stability as a value reserve, Doge was born as a joke inspired by internet memeswith a more community approach.
The approval of the Dogecoin ETF means an unprecedented institutional perception of Memecoin, but it is unlikely to be possible. Create the appetite of the same company They caused Bitcoin products. An example of this is an etheric ETF, and almost a year after their broadcast, they start to fly.
In this regard, the probability that Dogecoin will obtain an ETF is not just a guess. That is a concrete possibility that has already been assessed by institutional officials, market analysts and lawmakers. In concrete terms, it becomes an altcoin milestone born without making any major pretends, but it still managed to transcend culture and the digital economy.
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