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- SEC’s transition period could speed up Dogecoin ETF approval since DOGE is not classified as a security, unlike XRP and Solana.
- Trump’s executive order on digital assets may create a favorable regulatory environment, potentially accelerating DOGE ETF approval under new SEC leadership.
General counsel of Bitwise Asset Management, Katherine Dowling, disclosed that the United States Securities and Exchange Commission (SEC) is still awaiting validation of Paul Atkins’s nomination as new chairman.
Under such circumstances, several choices about crypto assets—including the legal status of Dogecoin (DOGE)—may be more promptly validated. Interestingly, a Dogecoin ETF may be approved more quickly than other cryptocurrencies including XRP and Solana as the SEC does not view DOGE as a security.
Katherine Dowling, general counsel of Bitwise, said that the SEC is currently in a transition period and needs to wait for the new chairman Paul Atkins to confirm his appointment. The securities attributes of assets such as SOL and XRP still need to be decided by the new…
— Wu Blockchain (@WuBlockchain) February 5, 2025
Dogecoin: An Asset ‘Free’ from Securities Status
Securities status is a hot topic for different digital assets in the regulatory space. Regarding whether some cryptocurrencies, including XRP and Solana (SOL), will be categorized as securities or not, there is still doubt. DOGE apparently does not have to deal with this, though. The SEC does not regard it as a security, hence its growth as an investment asset is more transparent and includes the potential for an ETF based on Dogecoin.
Previously, CNF reported that Bitwise registered S-1 with the SEC to introduce a Dogecoin spot ETF. This indicates that large investment firms see DOGE as an asset worthy of being a official financial instrument.
Trump and His Influence on Dogecoin ETF
On the other hand, the US crypto legislative scene is also beginning to shift. President Donald Trump has signed an executive order creating a digital asset regulatory structure. This sequence could speed the licensing of other crypto ETFs, including Dogecoin. Should friendly rules for digital assets be adopted, the SEC might be more open in allowing crypto-based ETFs—particularly those classified as non-securities.
Besides that, you know… This process might be accelerated even faster by the shift in SEC leadership to Paul Atkins, a noted proponent of financial innovation. DOGE investors most definitely expect that this change would provide their future in the traditional financial market some fresh air.
Meanwhile, as of press time, DOGE was trading about $0.2675, corrected 1.14% over the last 24 hours. This drop also brought down its market cap under the $40 billion mark.
