Dogecoin (DOGE) could soon have its own spot exchange-traded fund (ETF). Bitwise Asset Management has filed amended documents for a Dogecoin ETF. The update adds in-kind creation and redemption — a feature that makes it easier for big investors to swap DOGE for ETF shares directly. Bloomberg analyst Eric Balchunas said this shows stronger talks between crypto fund issuers and the U.S. Securities and Exchange Commission (SEC).
Balchunas believes the SEC’s tone now feels more open. He said the agency seems to be working with issuers rather than blocking them. Bitwise also updated its Aptos (APT) ETF prospectus at the same time. Balchunas expects these and other altcoin ETFs to get a green light within two to four months.
More Altcoin ETFs May Follow
The SEC approved spot Bitcoin ETFs in January 2024. That gave the crypto ETF market a major boost. Since then, more than 10 Bitcoin ETFs and several Ethereum ETFs have launched in the U.S. They hold billions in assets. According to data from Farside Investors, spot Bitcoin funds now manage about $130 billion. Bitwise’s spot Ethereum fund alone has attracted over $350 million.
With Dogecoin ETF, other altcoins ETFs are next in line. This week, Invesco applied for a Solana ETF. Cboe has also filed to list an ETF for Pudgy Penguins’ token. Balchunas said the SEC may approve altcoin funds in small batches to avoid shocking the market. He sees a 90% chance for Dogecoin and Aptos to get approval soon.
DOGE Price Holds Support, But Remains Weak
Dogecoin traded near $0.16 on June 27, down 2% in 24 hours. Over the past month, DOGE has dropped nearly 30%. The chart shows DOGE stuck in a long-term downtrend. A clear descending resistance line holds near $0.17–$0.18.
The daily Relative Strength Index (RSI) sits near 37 — close to oversold levels. This means the coin is weak but could bounce if buying volume picks up. The last support sits around $0.15. If DOGE loses that level, price could slide toward $0.09 or even $0.05, based on older support zones visible on the daily chart. If DOGE breaks above the $0.17–$0.18 resistance and holds, the next upside target could be around $0.21–$0.23, where the chart shows the next supply zone.
Is it Really Time to “Bet Big”?
Analysts see the ETF as a positive step. An approved Dogecoin ETF could attract big money from new investors who want crypto exposure without holding coins directly. This is what happened with Bitcoin. After the spot Bitcoin ETFs launched, Bitcoin’s price as investors put billions into the funds.
However, DOGE is not Bitcoin. It has no capped supply and adds new coins each year. This inflation weakens its store-of-value appeal over time. Also, DOGE relies more on hype and community than on strong technical development. DOGE must break above its descending resistance near $0.17–$0.18 and hold above that range to signal a true reversal.
The ETF update shows regulators are warming to more crypto products. That is positive for the market as a whole. For DOGE, the path to an ETF looks clearer than before, with analysts giving it a 90% chance by late 2025. Still, price action remains weak for now.