Dogecoin ETFs Move To The Fore

The probable approval of Spot Ethereum ETFs, which cryptocurrency experts say might open the door for more crypto funds, has led to the proposal of a Dogecoin (DOGE) ETF

A Dogecoin ETF Has “Brighter Than Ever” Odds

In a post on X (previously Twitter), crypto venture capitalist (VC) Andrew Kang stated that “the prospects for a DOGE ETF appear more promising than ever,” implying that regulatory clarity for the cryptocurrency sector appears imminent.

Kang referred to the Financial Innovation and Technology for the 21st Century (FIT21) measure, which seeks to grant the Commodity Futures Trading Commission (CFTC) authority over cryptocurrency regulation.

This is not the first time Kang has speculated on the potential approval of a Dogecoin ETF. The crypto expert predicted in March that an investment fund associated with the most popular meme coin would ultimately be approved with a 30% probability. He referred to recent regulatory developments to justify his optimistic outlook.

In addition, he cited the victory of Donald Trump for the presidency and the “most decentralized” nature of Dogecoin as elements that might contribute to the approval of a DOGE ETF. In January, he stated that Dogecoin, one of the largest circulating coins by market capitalization, merited its own ETF because it had never undergone a presale and was never regarded as a security.

In light of the recent development, Kang appears more optimistic regarding approving a Dogecoin ETF, indicating that the SEC will likely approve Spot Ethereum ETFs. In a recent X post, he speculated that “an ETH ETF approval could be the beginning of a complete U-turn” in the government’s anti-crypto posture” rather than “a solitary incident.”

Anthony Pompliano, an authority on cryptocurrencies, concurs that the approval of a Spot Ethereum ETF could mark the start of extraordinary times for the cryptocurrency sector. According to him, if the Ethereum ETF is approved, “they are approving the entire industry” (X post). He asserted, “This is the final dam to be breached.”

This optimistic outlook may propel DOGE to new heights.

Dogecoin’s price could undoubtedly reach all-time highs should the introduction of a Dogecoin ETF become a reality. The positive correlation between the anticipation of an ETF’s approval and the price of a cryptocurrency has become apparent, as Bitcoin’s price did previously when Spot Bitcoin ETFs were approved.