Dogecoin ETF Hopes Surge as Bitwise Files with SEC – Is a Breakout Coming?

Optimism Rises for Dogecoin ETF Approval in 2025

Polymarket, a blockchain-based prediction platform, has witnessed a significant increase in the probability of a Dogecoin (DOGE) exchange-traded fund (ETF) being approved in 2025. This follows the official filing of a Form S-1 prospectus with the U.S. Securities and Exchange Commission (SEC) by Bitwise Asset Management.

Polymarket Data Indicates Growing Confidence

Within 24 hours of Bitwise's SEC filing, Polymarket recorded a surge in Dogecoin ETF approval odds from 43% to 56%, before stabilizing at 53%. This marked a sharp increase from 26% at the beginning of January.

Market Responds to ETF Speculation

The filing has sparked increased speculation in the market. Data from Coinglass shows that Dogecoin futures Open Interest has risen by 4% over the past four hours. The Long/Short ratio indicates that over 53% of futures traders have taken long positions, signaling bullish sentiment around DOGE.

Bitwise's Filing Precedes Others

Bitwise's filing follows similar applications from REXShares and Osprey, both of which have submitted Dogecoin-based investment product proposals to the SEC.

Potential Impact on DOGE Price

Crypto analyst Ali Martinez has suggested that a Dogecoin ETF could boost DOGE's price to $15, fueling speculation about the coin's long-term potential.

DOGE Price at the Time of Writing

As of the time of writing, Dogecoin is trading at $0.3282, reflecting a 1.80% decline in the past 24 hours. However, the meme coin has still gained 3.70% year-to-date, according to Benzinga Pro.

Conclusion

With growing institutional interest and increasing market speculation, the quest for a Dogecoin ETF may prove to be a significant milestone for the broader adoption of meme coins in traditional finance.