The success of Bitcoin and Ethereum ETFs in 2024 has been a game-changer for both cryptocurrencies and traditional financial markets. Now, with President-elect Donald Trump’s pro-crypto agenda, speculation is growing over whether Dogecoin (DOGE), the cryptocurrency born from the meme, could follow suit with its own exchange-traded fund in 2025.
President-elect Trump has pledged to make the United States the “bitcoin capital of the world” and his administration is already shaping up to be a crypto vanguard. He notably created the meme-inspired film Department of Government Effectiveness (DOGE)led by Dogecoin enthusiast Elon Musk.
Nate Geraci, president of ETF Store, sees potential under the new administration. “We hope the new administration will move quickly to designate which crypto assets are securities and which are not,” Geraci said. “With this framework in place, the approval path for additional spot crypto ETFs should become much clearer.”
While fund managers are scrambling to capitalize on this momentum (Cboe BZX recently filed for four Solana ETFs, with approval expected by mid-2025), the prospects for a DOGE ETF are less certain.
“I am very confident that we will see a Solana ETF trading in the first half of 2025,” said a crypto analyst at All-Star Charts, “DOGE (is) much less likely…let’s just say that Wall Street prefers assets that weren’t I wasn’t born as a meme.
Despite its origins, Dogecoin is now the sixth largest cryptocurrency, trading at $0.40 with a market cap of $59 billion.
Eric Balchunas, senior ETF analyst at Bloomberg, believes: “Today’s satire is tomorrow’s ETF. Someone will try it because…why not? However, Dogecoin faces obstacles in proving fair market dynamics due to high concentration of holdings.
With Gary Gensler steps down as SEC chairman By early 2025, the crypto industry could experience a more favorable regulatory environment. Former CFTC Chairman Chris Giancarlo, one of the frontrunners for the newly proposed role of “Crypto Tsar,” could play a central role in shaping this landscape.
Whether Dogecoin ETFs materialize or not, the era of crypto-focused financial products appears to be only beginning under the Trump administration.