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Dogecoin news: 21Shares joins DOGE ETF race – Odds of approvals are…
Assessing DOGE recovery prospects as ETF race heats up.
Posted: April 11, 2025
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21Shares has joined Bitwise and Grayscale in the U.S. spot DOGE ETF race. As a result, DOGE ETF approval odds were above 60% as of this writing.
On April 9th, 21Shares submitted a filing to the U.S. Securities and Exchange Commission (SEC), requesting approval to launch a Dogecoin [DOGE] exchange-traded fund (ETF). In Q1 2025, Grayscale and Bitwise made similar submissions, marking an escalation in the race for the first U.S. spot memecoin ETF.
Source: SEC
DOGE ETF approval odds
In February, Bloomberg ETF analysts James Seyffart and Eric Balchunas suggested DOGE ETF approval odds of 75%. The prediction site Polymarket also reflected a similar outlook at that time. Currently, bettors on the site are pricing a 64% approval chance for DOGE ETF in 2025.
However, key players in the DOGE market displayed mixed signals. Miners (red line), for instance, have been accumulating since March. They increased their holdings from 831 million to 907 million DOGE tokens. This went against their offloading between December and February.
Source: Santiment
Conversely, Social Volumes and active users were muted, indicating that retail wasn’t interested in the memecoin amid the Q1 sell-off. However, it’s worth noting that this weak sentiment was also seen amongst the largest wallet holders, who have dumped over 1 billion DOGE tokens since December and haven’t altered their strategy as of this writing.
Source: Santiment
Since DOGE’s price has returned to its November level of $0.15, it is essential to note that this support level acted as a floor in March but its sustainability remains uncertain.
DOGE/USDT, TradingView
Source: https://ambcrypto.com/dogecoin-news-21shares-joins-doge-etf-race-odds-of-approvals-are/
