The probability of a Dogecoin exchange-traded fund (ETF) being approved in 2025 has significantly increased on Polymarket after an official filing from Bitwise to the U.S. Securities and Exchange Commission (SEC).
Growing Optimism on Polymarket
Polymarket, a leading blockchain-based prediction platform, recorded a surge in Dogecoin ETF approval odds from 43% to 56% within 24 hours, before stabilizing at 53%. This is a dramatic increase from just 26% at the start of January. The renewed optimism follows Bitwise's submission of an S-1 filing to the SEC, a necessary step for launching a Dogecoin ETF.
Market Reacts to ETF Speculation
News of the filing has triggered increased speculative activity, with Dogecoin futures Open Interest rising by 4% over the past four hours. The Long/Short ratio indicates that over 53% of futures traders have taken long positions, reflecting bullish sentiment around DOGE. Bitwise's filing follows ETF applications from REXShares and Osprey.
Could a Dogecoin ETF Push DOGE to $15?
Prominent crypto analyst Ali Martinez previously suggested that a Dogecoin ETF could propel DOGE’s price to $15, fueling speculation about the coin’s long-term potential.
With growing institutional interest and increasing market speculation, Dogecoin's ETF journey could be a significant milestone for the broader adoption of meme coins in traditional finance.
