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- The number of asset managers fighting for Dogecoin (DOGE) ETF products is growing.
- Beyond ETF, key industry trends can impact DOGE sentiment and price growth.
The discussions about a potential Dogecoin (DOGE) Exchange-Traded Fund (ETF) approval are increasingly growing in the crypto market. This follows Bitwise’s recent filing for a DOGE ETF, signaling growing institutional interest.
The filing lays the groundwork for DOGE to take off and eventually open up new pricing routes. The market is now watching to see DOGE’s highest level this year.
DOGE ETF Filings
On Tuesday, Bitwise submitted S-1 documents to list a DOGE ETF with the US Securities and Exchange Commission (SEC). The S-1 form is required for corporations intending to issue new securities and list on a publicly traded stock exchange.
Bitwise’s submission to the SEC follows a flurry of new ETF filings tied to the Dogecoin memecoin. As CNF reported last week, investment managers Rex Shares and Osprey Funds submitted multiple crypto ETF applications, including Dogecoin and other memecoins. This filing will open the door for more institutional investment in similar projects if approved.
Bitcoin ETFs made the first big step towards legitimate institutional investment in cryptocurrency in January 2024. Ethereum ETFs followed suit in July, with Solana products projected to hit markets during President Trump’s second term.
With Mark Uyeda serving as the acting SEC Chair, market participants are optimistic about a possible DOGE ETF launch this year. As CNF discussed earlier, Uyeda took over from former SEC Chair Gary Gensler after his official resignation on January 20.
Several market participants claim DOGE will ride a bullish trend this year. Crypto analyst Javon Marks said Dogecoin is already in a bullish pattern, aiming to hit $2.28. Elon Musk’s position in the Department of Government Efficiency (D.O.G.E) is also expected to impact Dogecoin’s price positively.
DOGE recently came under the radar after Musk invited Dogecoin founder Billy Markus to work for D.O.G.E. This department, launched under Trump’s new term, created an impactful pathway for the US government to work with Dogecoin. Polymarket has predicted a 56% odds of DOGE ETF approval this year.
How High Can Dogecoin Soar in 2025?
Dogecoin’s market capitalization has increased steadily in the past few days to $48.5 billion. At press time, DOGE price was down 1.37% and sitting at $0.33, waiting for the ultimate push that will assist the memecoin in hitting a new ATH.
According to market data platform Coicodex, DOGE is well on its way to achieving a high of $1. CoinCodex predicted that DOGE would retest the $1 mark by April 2025. However, the platform envisages that DOGE may stabilize around $0.47 by December 31, 2025.
On the other hand, investors claim DOGE will repeat its 2021 performance when it saw astronomical gains of over 12,000%. For those who can hold DOGE long-term, experts believe Dogecoin offers stability while retaining its memecoin charm.
