Dogecoin ETF Could Launch by April 2025: Can DOGE Price Hit $1 ?

Dogecoin Steals the Spotlight, Eyes SEC Filing

Bitwise Asset Management has registered "BITWISE DOGECOIN ETF" in Delaware, fueling speculation of an imminent SEC filing. While not an official application, this move could pave the way for Dogecoin to join the ranks of Bitcoin and Ethereum in the ETF landscape.

D.O.G.E. Endorsement Sparks Investor Interest

Further bolstering excitement, Dogecoin's logo now adorns the U.S. Department of Government Efficiency (D.O.G.E.) website. This nod has sparked interest among investors, recognizing the meme coin's growing relevance.

SEC Approval Gathers Momentum

Bitwise's registration represents a significant step towards filing a Form S-1 with the SEC. Bloomberg ETF analyst Eric Balchunas confirms the legitimacy of the move, projecting a potential launch of a Dogecoin ETF as early as April 2025, subject to SEC approval. Nate Geraci, president of the ETF Store, expresses surprise that an issuer has not pursued a Dogecoin ETF sooner.

Shifting Regulatory Landscape

The SEC's recent approval of Bitcoin and Ethereum ETFs signals a more positive stance towards crypto funds. The departure of former SEC Chair Gary Gensler has also raised hopes for the approval of spot ETFs, including Dogecoin.

DOGE Market Surge

Following the news, Dogecoin's price surged 4% to $0.373, before settling around $0.36. Whale activity spiked, with significant holders accumulating 590 million DOGE tokens in 24 hours. These wallets now hold a substantial 30% of the total supply.

Analyst Predictions

Crypto analysts predict a bullish future for Dogecoin. Trader Mikybull identifies a bullish flag pattern indicating a potential surge to $2. Ali Martinez sets an ambitious target of $15 should a Dogecoin ETF gain early SEC approval.

Retail Investor Opportunity

The convergence of whale purchases, analyst predictions, and Bitwise's groundwork positions Dogecoin for its next potential leap. Retail investors seeking diversification may find low-cap assets like Dogecoin particularly attractive, given their potential for substantial returns upon SEC approval.