Dogecoin ETF Approval Likely in 2025 as SEC Scrutinizes Bitwise and Grayscale Filings

The US Securities and Exchange Commission (SEC) is currently
reviewing multiple filings related to the potential listing of Dogecoin-based
exchange-traded funds (ETFs).

NYSE Arca has filed a 19b-4 seeking approval to list
Bitwise’s Dogecoin ETF, with Coinbase Custody managing the Dogecoin holdings
and Bank of New York Mellon overseeing the cash assets. The ETF aims to track
the market value of Dogecoin using the CF Dogecoin-Dollar Settlement Price.

Bitwise, Grayscale Lead Dogecoin ETF Applications

This filing follows Bitwise’s earlier submission of an S-1
to the SEC. Alongside Bitwise, other firms such as Grayscale and Rex Shares
have also sought approval for a Dogecoin ETF, with Grayscale’s application
further along in the SEC’s review process, as Coinstats reported.

JUST IN: Bitwise has filed for a spot Dogecoin $DOGE ETF.63% chance it’s approved this year. pic.twitter.com/xSv1n5MR1q

— Polymarket (@Polymarket) March 3, 2025

According to Polymarket, the probability of approval for a
Dogecoin ETF has risen to 67%, and Bloomberg analysts predict a 75% chance of
approval by 2025.

Market Volatility Continues Despite ETF Approval

Despite growing optimism surrounding the potential approval,
Dogecoin’s market performance has recently been marked by a nearly 16% price
drop and a 17% decline in trading volume, reflecting the inherent volatility of
meme coins.

🎯JUST IN: The 🇺🇸SEC acknowledges @Grayscale‘s filing for a spot Dogecoin ETF $DOGE pic.twitter.com/S6XvRqOWsk

— CryptosRus (@CryptosR_Us) February 13, 2025

However, market sentiment remains positive, with analysts
noting that the development of a regulated Dogecoin ETF may signal broader
regulatory acceptance of cryptocurrencies in traditional markets.

DOGEUSD Bearish Move Pauses at Support

The DOGEUSD H1 chart reveals a significant bearish move
after a period of bullish momentum. The price faced rejection at 0.24000,
forming a bearish engulfing candle. Since then, it has been moving lower,
finding support at 0.18500.

Currently, the cryptocurrency is trading around this level.
Buyers may wait for a potential bounce at 0.18500, followed by a strong bullish
reversal pattern to enter long positions. Conversely, sellers may look for a
breach of this level, followed by a breakout confirmation, to go short and push
the price further down.

DOGEUSD Bearish Move Pauses at Support

The DOGEUSD H1 chart reveals a significant bearish move
after a period of bullish momentum. The price faced rejection at 0.24000,
forming a bearish engulfing candle. Since then, it has been moving lower,
finding support at 0.18500.

Currently, the cryptocurrency is trading around this level.
Buyers may wait for a potential bounce at 0.18500, followed by a strong bullish
reversal pattern to enter long positions. Conversely, sellers may look for a
breach of this level, followed by a breakout confirmation, to go short and push
the price further down.

This article was written by Tareq Sikder at www.financemagnates.com.
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