On January 23, 2025, Bitwise Asset Management filed for a Dogecoin ETF in Delaware, marking a significant step in the cryptocurrency landscape. This filing comes amid renewed optimism for crypto regulation under President Donald Trump's administration, contrasting with the previous regulatory environment under Joe Biden.
The Dogecoin ETF filing follows the success of Bitcoin and Ethereum ETFs, which have garnered substantial interest from institutional investors. Despite this positive development, DOGE's price has remained stable, reflecting a 3% decline over the past 24 hours and a 7% drop over the past week. Analysts suggest that if the ETF receives regulatory approval, it could lead to a significant influx of investment into Dogecoin, potentially driving its price higher.
Additionally, REX Shares has submitted filings for multiple cryptocurrency ETFs, including Dogecoin, amidst a surge in crypto ETF applications following the recent inauguration of President Trump. The total number of crypto ETF filings with the SEC has now reached 33, doubling since the departure of former SEC Chairman Gary Gensler. Dogecoin is currently trading at $0.364, up 5.1% in the last 24 hours, with projections suggesting it could reach $1 if the ETF is approved.