21Shares Files for Dogecoin ETF to Bring the Meme Coin to Mainstream Investors
This initiative aims to offer both institutional and retail investors regulated exposure to Dogecoin without the complexities of managing the cryptocurrency directly. The proposed ETF would be fully backed by physical Dogecoin, ensuring that each share corresponds to a specific amount of the digital asset. This move is part of a broader trend, with other major players like Grayscale Investments also seeking approval for Dogecoin ETFs, reflecting a growing interest in integrating cryptocurrencies into traditional financial markets.
The SECs acknowledgment of these filings marks the beginning of a formal review process, which can extend up to 240 days. During this period, the regulatory body will evaluate the applications to determine their compliance with existing financial regulations. While this acknowledgment does not equate to approval, it signifies a crucial step forward in the potential mainstream adoption of Dogecoin and similar digital assets.
As of April 9, 2025, Dogecoin is trading at approximately $0.1474, experiencing a 4.62% decline over the past 24 hours. The cryptocurrency has faced a downward trend recently, with a 16.55% decrease over the past month and a 24.86% drop compared to its value a year ago. Despite these fluctuations, Dogecoin remains a topic of interest among investors and analysts.
Dogecoin Price Prediction
Looking ahead, various forecasts predict potential growth for Dogecoin. CoinCodex, for instance, anticipates a 127.68% increase, projecting the price to reach approximately $0.3945 by April 14, 2025. Similarly, DigitalCoinPrice forecasts a rise to around $0.36 by the end of April.
These projections, however, are speculative and subject to market dynamics and investor sentiment. Analysts attribute potential upward momentum to factors such as increased institutional interest and the development of regulated financial products like the proposed ETFs. However, they also caution that the cryptocurrency market is inherently volatile, and external factors, including regulatory decisions and macroeconomic trends, can significantly influence price movements.
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Text source: Coindoo
