Unconfirmed Rumors Surround Potential Dogecoin Spot ETF Filing Under Prior Presidential Administration
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Bloomberg ETF Analyst Hints Dogecoin Spot ETF Filing Under Trump Presidency
The unprecedented victory of the cryptocurrency industry over the traditional financial sector has fueled the mainstream adoption of altcoin projects in recent times. The overwhelming support of crypto-friendly US leaders has transformed the perspective of digital assets, especially among institutional investors during the past few weeks.
Furthermore, more investment fund managers have filed for spot altcoins ETF, including Solana, XRP, and Litecoin, with the US Securities and Exchange Commission (SEC). With the ongoing macro crypto bull market, more funds are expected to follow into the web3 industry ahead.
Dogecoin’s (DOGE) unwavering support from tech mogul Elon Musk has been instrumental in propelling its growth. Dogecoin is the largest memecoin on the blockchain, boasting a network of over 5.9 million on-chain holders.
However, none of the pro-crypto investment fund managers have filed for a spot DOGE ETF with the SEC to date. According to Eric Balchunas, a senior ETF analyst at Bloomberg, the inauguration of U.S. president-elect Donald Trump will set the precedent for investment fund managers to file for a spot DOGE ETF.
Moreover, the entrance of Paul Atkins as the US SEC chair will significantly enhance the chances of crypto ETF approvals.
Source: coinpedia.org
