Dogecoin ETF: A Step Toward Mainstream Adoption? SEC’s Review Begins
Dogecoin ETF – On February 14, 2025, the U.S. Securities and Exchange Commission (SEC) formally acknowledged Grayscale’s filing for a spot Dogecoin ETF. This move represents a key milestone in the path toward mainstream adoption of the popular memecoin and could significantly impact the overall crypto market.
SEC Begins 240-Day Review Process for DOGE Trust Conversion
The SEC has started a 240-day review of Grayscale’s $16.1M Dogecoin Trust, following its submission of a 19b-4 application. The trust would convert its assets into an ETF and track prices using CoinDesk’s DCX index, with Coinbase Custody managing the underlying assets and BNY Mellon handling administrative duties. The review process could take up to 240 days, with the final decision expected by mid-October 2025.
Strong Adoption for Dogecoin in the Real World
Despite the ongoing price pressures, Dogecoin’s adoption continues to expand. Over 2,500 merchants now accept DOGE for payments, including major companies like the Dallas Mavericks and AMC. Charitable initiatives such as well construction in Kenya have also contributed to DOGE’s growing real-world usage.
As of February 2025, Dogecoin currently ranks as the 8th largest digital asset by market capitalization, integrating with regulated U.S. trading platforms such as Coinbase, Kraken, and Crypto.com.
DOGE/USD Price Analysis: Struggles Below $0.28 Resistance
Currently trading at $0.2561, Dogecoin is down 3.32% in the last 24 hours. It has been struggling below the critical resistance zone of $0.28-$0.29, with technical indicators showing an RSI hovering at 38, indicating a potential price bounce if the support level holds. The 2025 high of $0.43 remains 40.4% above its current price.
Dogecoin ETF Could Open Doors for Institutional Adoption
The SEC’s shift in stance towards crypto ETFs, demonstrated by the simultaneous recognition of applications for XRP, Litecoin, and Solana, indicates a more flexible regulatory environment. If approved, a Dogecoin ETF would legitimize the asset, potentially attracting broader institutional investment and enhancing its mainstream acceptance.
The adoption of Dogecoin, which began as a joke in 2013, could experience significant growth as the crypto space continues to evolve.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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