A new proposal to create an exchange-traded fund (ETF) for Dogecoin ETFs Rise (DOGE) has surfaced. This is attributable, in part, to the optimistic outlook on the possibility of the approval of the Spot Ethereum ETFs, which, according to crypto experts, would pave the way for other cryptocurrency funds.
The Odds For A Dogecoin ETF Are “Brighter Than Ever”
“The odds for a DOGE ETF look brighter than ever,” crypto VC Andrew Kang wrote in an X (previously Twitter) post, referring to the impending regulatory clarification for the crypto industry. By “FIT21,” Kang meant the measure that would give the Commodity Futures Trading Commission (CFTC) authority over cryptocurrency regulation.
Kang has already brought up the prospect of an approved Dogecoin ETFs Rise. The crypto expert predicted in March that the top meme coin’s investment fund would be greenlit 30% of the time. He made a passing reference to new regulations as the cause for his optimism.
He said that Dogecoin’s status as the “most decentralized” altcoin and Donald Trump’s victory could both play a role in getting a DOGE ETF approved. Meanwhile, back in January, he mentioned that Dogecoin deserves its own ETF because it is one of the most oversized market caps among coins that have never been classified as a security and have never had a presale.
The latest development indicates that the Spot Ethereum ETFs. Would likely be approved by the SEC, which has also given Kang more confidence in approving a Dogecoin ETF rise. As he put it in a recent X article. It is possible that an ETH ETF approval is not just an isolated event” but rather the beginning of a “complete U-Turn” in the government’s anti-crypto stance.
According to crypto specialist Anthony Pompliano, the Spot Ethereum has been approved. ETF might mark the start of fantastic things for the cryptocurrency industry. That “they are approving the entire industry” would be his statement in an X post regarding the Ethereum ETF’s approval. “This is the final barrier that needs to be broken,” he insisted.
Positive Sentiment Can Drive DOGE To New Highs
If a Dogecoin exchange-traded fund (ETF) can be launched, Dogecoin’s price might undoubtedly reach new heights. Anticipating an ETF’s possible approval can significantly impact. The cost of a cryptocurrency; this was the case with Bitcoin’s price before the approval of the Spot Bitcoin ETFs.
Recently, news broke that the SEC was willing to approve the Spot Ethereum ETFs, which caused Ethereum’s price to soar. Consequently, a Dogecoin ETF launch application to the SEC will likely result in a substantial price increase for DOGE.
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