Approval for a Spot ETF for Dogecoin May Be On the Way: SEC May Exceed Its Deadline

Recently, an important development has caught the attention of Dogecoin (DOGE) investors. Bitwise has submitted the 8(a) form for a Spot Dogecoin Exchange-Traded Fund (ETF) in the United States. This move means that, provided there are no objections from the U.S. Securities and Exchange Commission (SEC), the ETF could be automatically approved in just 20 days.

Bloomberg senior ETF analyst Eric Balchunas stated that the goal of Bitwise's application is to accelerate the process. If the SEC does not intervene in Bitwise's application, the ETF will come into effect directly and can begin trading on the stock exchange. This situation would grant Bitwise the title of being the first institution to launch a spot ETF for Dogecoin.

Balchunas expressed that this step by Bitwise presents a significant opportunity for the Dogecoin ETF to start trading by the end of December. Such a development is seen as a historic progress for both the Dogecoin community and Bitwise. If this step is successfully completed, Dogecoin will take another step closer to the traditional financial world, following Bitcoin and Ethereum.

With this ETF, Dogecoin is expected to have a great opportunity to attract investor interest and increase institutional participation in the meme coin market. Therefore, the Dogecoin ETF will be the third largest spot cryptocurrency ETF to be listed in the U.S. Progressing towards this goal could open the doors to a new era for Dogecoin.

Investors should closely monitor the decisions the SEC will make regarding this application and how Bitwise will perform in the ongoing process. Based on the information obtained, significant fluctuations in Dogecoin's value may occur. Additionally, observing the impacts of this process on the market is also of great importance.