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Bitwise Asset Management has advanced Dogecoin closer to Wall Street’s ETF club by filing an amended S-1 on 26 June, enabling “in-kind” creations and redemptions for the Bitwise Dogecoin ETF. This aligns the ETF with SEC-approved operational practices for spot-bitcoin and spot-ether products, indicating thorough SEC engagement in custody and settlement processes.
Indications of Dogecoin ETF Approval
“Bitwise has filed amended S-1s for their spot Dogecoin ETF and their spot Aptos ETFs, indicating positive SEC engagement and tracking with other spot approvals,” noted Bloomberg Intelligence senior ETF analyst Eric Balchunas. The inclusion of “in-kind” creations and redemptions in the filing suggests a high likelihood of approval for spot ETFs, minimizing tax implications and slippage compared to cash-only models used by futures-based crypto funds.
The odds of approval for pending altcoin ETFs, including Dogecoin, have been raised to “90 percent or higher” by analysts, signaling optimistic SEC engagement.
Despite this optimism, prediction markets still show moderate probabilities of approval for Dogecoin ETFs, indicating ongoing uncertainties in the market.
Dogecoin Price Trends
While regulatory developments have been positive, Dogecoin’s price has remained relatively stable around $0.161. Technical analysis suggests that despite short-term fluctuations, the overall trend remains bullish based on historical price movements.
Market sentiment for meme-coins like Dogecoin is influenced by broader economic factors, such as Federal Reserve policies and geopolitical events. Altcoin season may depend on shifts in monetary policy and interest rates, which are currently uncertain based on market indicators.
At present, Dogecoin is trading at $0.16123, reflecting a cautious market sentiment amid regulatory and economic uncertainties.