Dogecoin Drops 0.701% as SEC Delays ETF Decision

Dogecoin's latest price was $0.2406, down 0.701% in the last 24 hours. The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the Bitwise Dogecoin ETF. The agency announced it would take until November 12, 2025, to finalize its ruling. This delay extends the review process, which began in June after Bitwise amended its filing. The SEC initially had a deadline in June to approve or reject the Dogecoin ETF proposal. However, the Commission launched formal proceedings to examine the proposal more closely. As a result, the deadline was moved to September 13, 2025, with a further 60-day extension. Officials from the SEC stated that the extra time would allow for more thorough review. The SEC needs time to analyze the proposal and public comments it received. Several responses expressed concerns about market manipulation and liquidity related to the Dogecoin ETF.

Several public responses raised concerns similar to those raised in previous ETF filings, such as for Grayscale’s Dogecoin ETF. These comments primarily focused on issues of market manipulation and liquidity risks. Critics argue that Dogecoin’s volatility could harm retail investors if it is listed as an exchange-traded product. The SEC’s scrutiny over these concerns is a key reason for the delay. Some also question whether Dogecoin is suitable for an exchange-traded fund (ETF). These concerns have prompted calls for more detailed analysis, as the SEC examines the implications for the broader market. Despite these challenges, Bitwise has remained confident in the proposal. Bitwise asserts that Dogecoin offers substantial liquidity, along with a strong community backing the token. According to Bitwise, these factors make it an ideal asset for the ETF.

The approval of a Dogecoin ETF would be a historic moment in the cryptocurrency world. If approved, it would mark the first time a meme-based cryptocurrency has been endorsed as an ETF in the United States. The approval would signal a shift in how the SEC views digital assets, especially meme coins like Dogecoin. A Dogecoin ETF could pave the way for other niche digital assets to seek similar approval. The REX-OSPREY Dogecoin ETF is the first exchange-traded fund designed to provide investors exposure to Dogecoin and is scheduled to launch on September 11. The fund is significant because it brings a widely recognized meme coin into a regulated ETF wrapper, expanding institutional access and potentially setting a template for future meme coin ETFs. The REX-OSPREY ETF is launching under the ’40 Act, which provides an established regulatory framework for registered investment companies. By contrast, other asset managers have submitted Dogecoin ETF proposals under the ’33 Act, which involve different SEC review pathways and disclosure requirements. The ’40 Act structure can allow faster operational readiness because it leverages existing fund governance and shareholder protections.

Dogecoin experienced a price uptick of roughly 2% following the REX-OSPREY announcement as market participants priced in increased retail and institutional demand. Short-term price responses are typical when a familiar asset gains clearer paths to regulated investment products. The REX-OSPREY Dogecoin ETF launch on September 11 marks a pivotal moment for meme coin ETFs and broadens institutional access to Dogecoin. Investors should combine this development with careful risk management and follow official SEC disclosures and fund prospectuses for full details. Cleancore has acquired 285,420,000 dogecoin, worth about $68 million, as part of its plan to launch an official treasury backed by the Dogecoin Foundation. The Omaha-based company, listed on the NYSE American under the ticker ZONE, said the purchase makes its dogecoin (DOGE) Treasury the largest single digital asset treasury holding dogecoin in less than a week of operations. The move comes alongside a stated goal of accumulating 1 billion dogecoin within the next 30 days. Cleancore said the long-term strategy is to secure as much as 5% of dogecoin’s circulating supply. The initiative reflects confidence that the cryptocurrency will expand in adoption and utility, particularly as the Dogecoin Foundation’s corporate arm, House of Doge, begins rolling out new initiatives. House of Doge plans to introduce use cases tied to payments, tokenization, staking-style products, and remittances. The group argues that these applications will establish dogecoin as a leading currency for everyday use. Marco Margiotta, Cleancore’s chief investment officer and CEO of House of Doge, said the company’s treasury was designed “to capture the value of Dogecoin’s ability to serve as the people’s currency.” He added that greater utility is expected to support broader adoption.

Recent weeks have seen significant developments around Dogecoin, highlighting its evolution beyond its initial status as a memecoin. Key events include the upcoming launch of an exchange-traded fund and strategic corporate acquisitions that signal growing institutional adoption. Dogecoin's profile has been elevated by the imminent debut of the Rex-Osprey Dogecoin ETF, set to go live on September 11, 2025. This marks a major step as the first U.S.-based ETF dedicated solely to a memecoin, allowing investors to gain exposure without direct holdings. The anticipation surrounding this launch has generated increased market activity and discussions within the cryptocurrency community, underscoring a shift toward greater legitimacy. In parallel, corporate initiatives are reshaping Dogecoin's ecosystem. CleanCore Solutions has made headlines with a significant purchase of Dogecoin to establish an Official Dogecoin Treasury. The company outlined a plan to expand this treasury aggressively over the next month, aiming to acquire a substantial volume of the token. This move is part of a broader strategy to integrate Dogecoin as a reserve asset, reflecting growing confidence in its utility and potential applications. Dogecoin's journey has been notable for its rise from internet novelty to mainstream relevance. It gained widespread attention earlier this year, fueled by endorsements from celebrities and social media influencers, which drove heightened visibility and adoption. Now, the focus is shifting toward tangible developments, such as new financial products and corporate investments. Collectively, these advancements suggest a maturation phase for Dogecoin, with recent events positioning it as a subject of serious consideration alongside more established cryptocurrencies.