The idea of a Dogecoin Exchange Traded Fund (ETF) (DOGE) was raised again. This is partly due to the positive sentiment generated by a possible approval of the Spot ETF Ethereumwhich crypto experts say could open the door to others crypto funds.
Chances for a Dogecoin ETF are “brighter than ever”
Crypto Venture Capitalist (VC) Andrew Kang Mentioned in an X (formerly Twitter) job that “the chances for a DOGE ETF look brighter than ever,” with regulatory clarity for the crypto industry seemingly imminent. Kang was referring to financial innovation and technology for the 21st century. (FIT21) invoicewhich aims to confer cryptographic regulation on the Commodity Futures Trading Commission (CFTC).
This is not the first time Kang has discussed the possibility of approving a Dogecoin ETF. In March, the crypto expert mentioned that there was a 30% chance that an investment fund tied to the major coin would ultimately be approved. He cited recent regulatory developments to justify his hopes.
He further emphasized Donald Trump winning the presidency and Dogecoin being the “most decentralized” altcoin as factors that could help in the approval of a DOGE ETF. Meanwhile, in January, he mentioned that Dogecoin is one of the largest market cap coins that never had a presale and was never sold. considered a securitythat’s why it deserved its own ETF.
Kang also seems more confident about approving a Dogecoin ETF thanks to the recent development, which shows that the SEC will likely approve Spot Ethereum ETFs. He mentioned in a recent Message that “it is possible that an ETH ETF approval is not just an isolated event” but the first step in a “complete U-turn” in the government’s anti-crypto stance.
Anthony Pompliano, cryptography expert also believes that an approval of the Spot Ethereum ETF could be the start of big things for the crypto industry. He said in an article that “they are endorsing the entire industry” if they approve the Ethereum ETF. “This is the last dam to be broken,” he said.
This positive sentiment can drive DOGE to new heights
There is no doubt that the price of Dogecoin could reach new highs if the launch of a Dogecoin ETF becomes feasible. He became obvious to what extent the price of a crypto can react positively to the hype around the potential approval of an ETF, as seen with the price of Bitcoin previously when the Spot Bitcoin ETFs Approved.
More recently, Ethereum price increased on the news that the SEC had made a U-turn and was ready to approve Spot Ethereum ETFs. SO, The price of DOGE a significant increase in prices can be expected if an application is filed with the SECOND to launch a Dogecoin ETF.
Featured image created with Dall.E, chart from Tradingview.com
