Dogecoin ETF Nears Approval: A New Chapter of Legitimacy for Meme Coins in the Crypto Market

The discussion surrounding the approval of an Exchange-Traded Fund (ETF) for Dogecoin,  a digital asset born from meme culture has now captured the spotlight among the public and market participants. Rapid regulatory developments and strengthening investor sentiment have made this issue one of the most critical topics in the crypto sector.

Rex-Osprey is expected to launch a DOGE ETF this week, making it the first meme-coin-based ETF officially traded in the United States. According to Bloomberg analyst Eric Balchunas, the introduction of this ETF would usher in a new era for crypto investment products, serving as an institutional legitimacy milestone for Dogecoin, CryptoSlate reported.

Market anticipation is also reflected in Polymarket data, which shows the probability of Dogecoin ETF approval in 2025 has reached 91%. This figure highlights investors’ high confidence in the regulatory clearance of the product.

The ’40 Act Path: REX-Osprey’s Fast-Track Strategy

Unlike the traditional route, Rex-Osprey is leveraging a regulatory loophole through the Investment Company Act of 1940 (the ’40 Act) as an accelerated pathway for its launch. This structure allows for a quicker process compared to the Securities Act of 1933, which is commonly used for spot crypto ETFs, and has already proven effective during the previous launch of the Solana Staking ETF (SSK).

Despite prevailing optimism, the SEC has postponed its decision regarding the Bitwise Dogecoin ETF until November 12, 2025. This delay extends the evaluation period and leaves room for regulatory uncertainty in the final stages.

DOGE Price Strengthens, Trading Volume Surges

Speculation around the ETF has driven Dogecoin up by approximately 7–17% over the past few days, accompanied by a 123% surge in trading volume, reaching US$2.6 billion. Several technical analysts have set conservative price targets around US$1, while more optimistic targets range between US$2.28 and US$3.50 should official approval be granted.

If approved, the Dogecoin ETF would mark a pivotal turning point, signaling institutional acceptance of an asset once dismissed as merely an internet joke. Beyond potentially boosting DOGE’s price, this step could solidify the role of meme coins within traditional investment portfolios.

However, investors are reminded to remain cautious of several risks: the pending Bitwise decision, Dogecoin’s inherently volatile nature, and the SEC’s strict oversight that could introduce new hurdles. While increasingly recognized at the institutional level, Dogecoin continues to carry inherent risks that must be carefully evaluated.