Key developments around Dogecoin: from SEC filings to the launch of a european ETP
Should we expect a Dogecoin ETF: what experts think
Following the SEC's approval and the subsequent launch of exchange-traded crypto funds based on Bitcoin and Ethereum, major investment companies have started submitting applications to launch similar products for other altcoins, including Dogecoin.
One of the first investment companies to file such an application was Grayscale. However, the U.S. Securities and Exchange Commission (SEC) has repeatedly postponed decisions on applications to launch a Dogecoin ETF, with the final deadline set for October 17, 2025.
Experts note that such delays are standard regulatory practice and do not indicate a rejection. The same occurred with Bitcoin ETFs and Ethereum ETFs before their eventual approval. Bloomberg analyst James Seyffart believes that the chances of approving new crypto funds, including those based on a Dogecoin exchange-traded fund (ETF), remain high.
Meanwhile, in April 2025, investment company 21Shares launched the first European exchange-traded product based on the meme coin Dogecoin, known as the DOGE-ETP. Trading of this new financial instrument takes place on the Swiss SIX exchange, and the product itself was developed in collaboration with House of Doge — a division of the Dogecoin Foundation, which oversees the ecosystem of the leading meme coin.
Dogecoin network sees spike in activity amid DOGE ETF applications
In May, the number of active addresses on the Dogecoin blockchain increased by nearly 530%, reaching approximately 470,000. At the same time, open interest (OI) in Dogecoin futures rose by 70% to $1.65 billion.
Analysts note that high user activity on the Dogecoin network indicates growing investor interest in the meme coin. As of June 2025, the price of the leading meme coin is $0.18, with a market capitalization of $28 billion. However, since the end of 2024, this figure has declined by nearly 2.5 times from $68.5 billion.
During that period, the price of the DOGE cryptocurrency surged significantly following the launch of the DOGE department and a general upswing in the crypto market. Additionally, investors anticipate that the DOGE cryptocurrency will be included in the list of supported currencies for the X Money payment system, which X (formerly Twitter) CEO Elon Musk launched in May. However, there is currently no confirmation that Dogecoin will be used as a payment method on this platform.
Dogecoin at a standstill
Although DOGE is one of the most talked-about assets in the cryptocurrency market, the Dogecoin development team is in no rush to release major updates or even announce plans for them.
The last post in the official Dogecoin blog with announcements dates back to December 31, 2022, when the memecoin team announced a restructuring of the Dogecoin CoreFund and Foundation.
Nonetheless, in April, the project team released an update to the Libdogecoin 0.1.4 library aimed at improving node performance and adding support for YubiKey hardware keys to enhance security when handling wallet private keys.