DOGE price skyrockets 40% — ETF effect and institutional interest
Dogecoin (DOGE), one of the most well-known meme cryptocurrencies, is once again in the spotlight of the crypto market. Over the past seven days, the coin's value has surged 40%, approaching the $0.27 mark — the highest level in six months. This growth is fueled by both market trends and several significant developments, including the launch of the first DOGE ETFs in the U.S.
DOGE ETF applications: who's applying and why it matters
Several companies have submitted applications to the U.S. Securities and Exchange Commission (SEC) to create exchange-traded funds (ETFs) based on Dogecoin. Bloomberg analysts estimate the chances of approval at 75–90%, which is already having a substantial impact on DOGE's price.
Key players in this movement include:
- Bitwise Asset Management — one of the first to apply back in January 2025. In June, they updated it by adding an in-kind creation/redemption mechanism (direct DOGE asset transfers), which reduces costs and increases liquidity. Custody is planned via Coinbase Custody, with listing on NYSE Arca.
- 21Shares — on April 10, 2025, the company filed for a DOGE ETF listing on Nasdaq. The project is developed in partnership with House of Doge (affiliated with the Dogecoin Foundation), which strengthens the application. Coinbase Custody is also designated for storing digital assets.
- Grayscale — after launching Dogecoin Trust earlier this year, the company is actively working to convert this product into a full-fledged ETF. Their successful conversion of Bitcoin and Ethereum trusts significantly increases Grayscale's chances of success.
- REX Shares and Osprey Funds — these firms are known for their focus on "thematic" crypto ETFs, including funds based on meme coins like TRUMP and BONK.
In 2025, the SEC is reviewing over 70 altcoin ETF applications (including Solana, XRP, Cardano), and Dogecoin is one of the frontrunners. Approval of even a single DOGE ETF could act as a catalyst for institutional capital inflows.
Institutional interest and market dynamics
Interest in Dogecoin is not limited to ETF issuers. Investment corporation Bit Origin purchased over $40 million worth of DOGE, triggering a wave of optimism among institutional and corporate investors. Such actions from major players confirm that Dogecoin is no longer just a meme coin, but an asset worthy of serious attention.
Analysis: what experts say
Zach Pandl, Head of Research at Grayscale, notes that DOGE's jump reflects a general increase in investor risk appetite. In his view, this isn't due to fundamental project changes but rather a search for higher-yield opportunities following the rise of Bitcoin and Ethereum. He also believes that former President Donald Trump's recent signing of stablecoin regulation has created a favorable environment for the crypto sector as a whole.
Katie Talati, Head of Research at Arca, points to capital rotation into altcoins. According to her, investors are locking in profits from significant assets and reallocating them into more volatile but potentially profitable coins, such as DOGE. Dogecoin's availability on popular exchanges makes it especially attractive for retail traders.
Dogecoin outlook
The DOGE ETF situation may mirror Bitcoin's rally following the approval of the first Bitcoin ETF in January 2024. If the SEC approves even one DOGE ETF, Dogecoin will gain institutional infrastructure, potentially boosting its legitimacy and price.
Dogecoin, which began as an internet meme, is proving in 2025 to be a full-fledged digital asset with growing institutional recognition. If DOGE ETFs receive the green light, it could mark a historic milestone — not only for Dogecoin but for the entire meme coin market.