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ETF spot Dogecoin? For some, reality will surpass fantasy
By Davide Grammatica
The new Trump administration has paved the way for the approval of new ETFs: waiting is Solana, but some possibilities are there for DOGE as well
A new crypto ETF era
2024 is the year ofBitcoin spot ETFs . They have brought BTC back to the top thanks to the boost of new instututional liquidity, but more importantly they have been a key tool in integrating the first cryptocurrency within the mechanisms of traditional finance.
The election of Donald Trump as the new U.S. president, then, has completely changed the game. He proposes to make the United States the “Capital of Bitcoin, ‘ and with Elon Musk winks at the rest of the industry, as evidenced by the creation of the ’DOGE” department for “government efficiency.”
After Bitcoin, then, many expect that the turn of the rest of the industry has come as well. For Ethereum everything has already been done, but waiting in line are many other different tokens.
The new administration will first have to close the books on the age-old “security/commodities ” issue in relation to cryptocurrencies, categorizing them based on clearer regulations. After that, the approval path for new ETFs may be downhill.
A DOGE spot ETF?
These are the hopes of many funds interested in this area, which have been working for some time now to plan the launch of new crypto ETFs. Solana is first on the list, and there are already those who speculate on the launch of a product on SOL by the end of 2025.
But among the candidates immediately following could even be Dogecoin (DOGE). To date it sounds crazy, but on balance just the first memecoin is the sixth largest cryptocurrency by capitalization, at about $60 billion.
And as Eric Balchunas, a Bloomberg analyst, described well at The Block, “ today’s satire is tomorrow’s ETF.” Traditional finance, on the other hand, while not embracing the idea of assets born “for the meme,” is not looking at anyone’s face, and it does not seem far-fetched that some companies will try to create an ETF on DOGE as well, as long as it can represent a profit opportunity.
Plus, with a more permissive SEC under the Trump administration, the whole process could be much faster than expected. The coming 2025 will be without Chairman Gary Gensler, arch-enemy of the industry, and at the same time with Chris Giancarlo, former CFTC chairman, in the new post of “Crypto Czar” (announced by Trump but not yet well defined).
