ETF Store President Nate Geraci told The Block:

“Under the new administration, everything is on the table moving forward.”

Department of Government Efficiency, Elon Musk: DOGE

President Donald Trump, aiming to make America the “bitcoin capital of the world,” positioned himself as a crypto-friendly leader. He even established the meme-friendly Department of Government Efficiency, to be led by Dogecoin fan Elon Musk.

Nate Geraci, speaking to The Block, noted, “We hope the new administration will quickly determine which crypto assets are securities and which are not.” He added, “Once that framework is in place, the approval process for additional spot crypto ETFs should become much clearer.”

Asset management firms are moving quickly to launch new ETFs. Last week, Cboe BZX filed four applications for spot Solana funds, and some experts predict a Solana ETF will be on the market by the end of 2025.

“I am quite confident that a Solana ETF will begin trading in the first half of 2025,” said Louis Sykes, a crypto analyst at All-Star Charts, adding, “DOGE [is much less likely… let’s say Wall Street doesn’t favor assets born as jokes].”

Though DOGE started as a joke, it is now the sixth-largest cryptocurrency. According to The Block’s DOGE data, as of the latest update, Dogecoin is trading around $0.40 with a market capitalization of $59 billion.

DOGE: Today’s satire is tomorrow’s ETF

“Today’s satire is tomorrow’s ETF,” said Eric Balchunas, senior ETF analyst at Bloomberg, speaking to The Block. “You might ask yourself, ‘Is DOGE going too far?’ and I’d say, ‘We’ll see.’ I think someone will try it—why not?”

Alexander Blume, CEO of Two Prime Digital Assets, told The Block that DOGE ETF applications will “definitely” be made.

“With the tremendous success of BTC ETFs, entrepreneurial financial firms will aim to create any product that could succeed,” Blume said. “However, whether it will be approved or not is a separate issue.”

Blume noted that Dogecoin might struggle to prove it’s a fair market due to the concentration of its holdings, stating, “However, I think the new SEC administration will generally be more permissive, so the approval process might be shorter than we expect.”

Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), continues to be an obstacle for much of the crypto industry and is set to step down on January 20, 2025. Meanwhile, former Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo has emerged as a real candidate for the first “Crypto Palace” that President-elect Trump has envisioned for the U.S.

In a statement to The Block earlier this week, Giancarlo said, “Gary Gensler’s refusal to engage with crypto keeps him at a less mature stage of development.” He added, “The end of this pressure will move him into a more mature and constructive phase of development.”

Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our Telegram, YouTube and Twitter channels for the latest news and updates.

The post Could there be a Dogecoin ETF in 2025? appeared first on Coin Engineer.