Following the landmark approvals of Bitcoin and Ethereum ETFs in 2024, speculation is mounting about the possibility of a Dogecoin exchange-traded fund (ETF) in 2025. The crypto-friendly stance of the incoming presidential administration is fueling this optimism.
“I think everything is on the table moving forward under the new administration,” Nate Geraci, President of ETF Store, told.
President-elect Donald Trump’s pro-crypto stance, including his goal to make America the “Bitcoin capital of the world,” and the creation of the Department of Government Efficiency (“DOGE”), headed by Dogecoin enthusiast Elon Musk, have significantly shifted the landscape.
Geraci emphasized the importance of regulatory clarity: “The hope is that the new administration moves quickly to designate which crypto assets are securities and which aren’t. Once that framework is in place, the approval path for additional spot crypto ETFs should become much clearer.”
The recent flurry of ETF applications, including Cboe BZX’s filings for spot Solana funds, further underscores the growing momentum in the sector. Some analysts predict a Solana ETF could launch as early as the first half of 2025.
While acknowledging Solana’s strong prospects, crypto analyst Louis Sykes of All-Star Charts expressed more skepticism about Dogecoin: “DOGE [is] far less likely… let’s just say Wall Street prefers assets that weren’t born as a meme.”
Despite its meme origins, Dogecoin has evolved into the sixth-largest cryptocurrency, boasting a market cap of $59 billion and trading around $0.40 at the time of writing, according to The Block’s DOGE data.
Bloomberg’s senior ETF analyst Eric Balchunas offered a more optimistic perspective: “Today’s satire is tomorrow’s ETF. You could ask yourself, ‘is DOGE a bridge too far?’ and I would say we’ll see. I think someone’s gonna try it because why not?”
Alexander Blume, CEO of Two Prime Digital Assets, echoed this sentiment, stating that DOGE ETF filings are “definitely” on the horizon, driven by the success of Bitcoin ETFs. However, he cautioned that approval is not guaranteed. Blume highlighted the concentrated holdings of Dogecoin as a potential regulatory hurdle, but suggested a more permissive SEC under the new administration could expedite the process.
The anticipated departure of SEC Chair Gary Gensler, a frequent critic of the crypto industry, on January 20, 2025, and the potential appointment of former CFTC Chair Chris Giancarlo as the nation’s first “Crypto Czar” are seen as further positive developments.
Giancarlo recently stated, “Gensler’s unwillingness to engage with crypto has actually kept it at a less mature phase of its development. Ending the suppression is going to bring it to a more mature and more useful period of development.”
