Dogecoin just took a major step forward in its journey toward becoming the next cryptocurrency with a U.S.-listed spot ETF. Bitwise, one of the largest crypto asset managers in the U.S., has submitted an amended filing for its proposed Spot Dogecoin ETF, signaling active dialogue and progress with the U.S. Securities and Exchange Commission (SEC).
The revised filing includes in-kind creation and redemption, a mechanism that allows brokers to exchange ETF shares directly for DOGE tokens, rather than using cash. According to Bloomberg ETF analyst Eric Balchunas, this change almost guarantees that in-kind transactions will be allowed for all upcoming spot crypto ETFs—streamlining the investment process and reducing tax inefficiencies.
Bitwise isn’t alone in the push for a Dogecoin ETF. Grayscale and 21Shares are also vying for approval, betting on DOGE’s staying power as one of the most recognizable and community-driven cryptocurrencies. Balchunas and fellow analyst James Seyffart now estimate the approval probability for most spot crypto ETFs at 90% or higher, a dramatic increase from earlier expectations.
An approved ETF would open the door for broader institutional and retail investment in Dogecoin, making it easier to gain exposure through traditional brokerage accounts.
Despite the promising ETF developments, Dogecoin has failed to rally, falling 1.8% in the last 24 hours to around $0.162. Technical indicators are offering mixed signals: while oscillators show neutral momentum, moving averages are leaning bearish, signaling ongoing weakness in price action.
Since the start of June, Dogecoin has dropped from $0.23 to current levels, despite a short-lived bounce between June 10–13. Support appears to be holding near $0.15, a level where buyers have historically stepped in. However, resistance at $0.17–$0.172 remains a major barrier.
While the short-term trend remains weak, long-term optimism continues to brew. Popular crypto analyst Trader Tardigrade points to Dogecoin’s past explosive cycles—where the meme coin rallied from fractions of a cent to multiple whole-dollar levels—as precedent for future gains.
He predicts a breakout pattern similar to previous cycles, projecting that Dogecoin could leap from $0.42 to $1.46, and possibly even reach $4 in the current bull run—though such predictions hinge heavily on both market sentiment and regulatory clarity.
June 2025, Cryptoniteuae