Dogecoin News Today: Regulators May Soon Open the Floodgates for Dogecoin ETFs

The U.S. Securities and Exchange Commission (SEC) is on the verge of approving new listing standards for crypto-based exchange-traded funds (ETFs), which could significantly expedite the launch of a range of new products in the market. Major exchanges, including CBOE BZX, NYSE Arca, and Nasdaq, proposed these generic listing standards in late July, allowing crypto ETFs to be approved under the same framework as traditional ETFs governed by the Investment Company Act of 1940 [1]. This change could streamline the approval process and remove regulatory hurdles that have historically delayed the introduction of digital asset funds [1].

One of the most anticipated developments is the potential approval of a Dogecoin (DOGE) ETF. The likelihood of such approval has increased, particularly with the looming deadline for the Bitwise Dogecoin ETF on October 18. Analysts speculate that if the SEC approves the Bitwise fund, it could also greenlight the Grayscale and 21Shares Dogecoin ETFs in the near future, potentially all on the same day to prevent any firm from gaining a competitive edge [2]. The growing optimism is supported by a recent poll showing the probability of approval has climbed to 80%, up from a low of 44% in June [2].

Dogecoin’s market fundamentals also bolster the case for an ETF. With a market capitalization of over $31 billion and a daily trading volume of approximately $2 billion, DOGE is one of the most liquid and widely recognized cryptocurrencies [2]. Unlike other tokens with staking features, Dogecoin is a proof-of-work cryptocurrency and has never been classified as a security, making it a safer regulatory bet for the SEC [2]. If approved, a Dogecoin ETF is expected to attract inflows of around $3 billion, representing about 3% of the token’s total market cap [2].

From a technical standpoint, Dogecoin’s price has recently hit a key support level and is currently consolidating around the 50-day exponential moving average. Analysts suggest that a breakout from the ascending channel formed since April could push the price to its year-to-date high of $0.2865, with potential further gains reaching $0.3500, a level considered an extreme overshoot point [2]. This technical outlook has generated renewed interest among traders and investors, particularly as anticipation of regulatory clarity grows.

The approval of a Dogecoin ETF could serve as a catalyst for broader adoption of other altcoin and memecoin ETFs. Recent regulatory filings have indicated growing interest in products tracking tokens such as Solana (SOL), XRP, and even niche or meme-based coins [1]. This suggests that the new listing standards may not only facilitate the launch of Dogecoin ETFs but also pave the way for a wider array of crypto-related investment vehicles [1].

If the proposed rules are approved as expected, they would mark a significant milestone in the evolution of crypto ETFs. While the industry has long sought a streamlined approval process, the implementation of generic listing standards represents a major shift in regulatory approach. The outcome of these developments will have lasting implications for both institutional and retail investors seeking exposure to digital assets [1].

Source:

[1] Dogecoin ETFs—and More—Could Land Soon if the SEC ... (https://www.investopedia.com/dogecoin-etfs-and-more-could-land-soon-if-the-sec-oks-new-rules-11799387)

[2] Dogecoin price target if the SEC approves a DOGE ETF in ... (https://crypto.news/dogecoin-price-target-if-the-sec-approves-a-doge-etf-in-october/)