The probability of a Dogecoin (DOGE) exchange-traded fund (ETF) being approved in 2025 has seen a sharp rise on Polymarket. This follows an official filing from Bitwise Asset Management with the U.S. Securities and Exchange Commission (SEC), signaling growing confidence in institutional adoption of the popular meme coin.
Polymarket Bets Reflect Growing Optimism
Polymarket, a leading blockchain-based prediction platform, recorded a surge in Dogecoin ETF approval odds from 43% to 56% within 24 hours, before stabilizing at 53%. This is a dramatic increase from just 26% at the start of January.
The renewed optimism follows Bitwise’s submission of an S-1 filing to the SEC, a necessary step for launching a Dogecoin ETF. The firm had also previously registered the ETF with Delaware’s Department of State’s Division of Corporations, a move often considered a prelude to an official SEC application.
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Market Reacts to ETF Speculation
News of the filing has triggered increased speculative activity, with Dogecoin futures Open Interest rising by 4% over the past four hours, according to data from Coinglass. Additionally, the Long/Short ratio indicates that over 53% of futures traders have taken long positions, reflecting bullish sentiment around DOGE.
Bitwise’s filing follows ETF applications from REXShares and Osprey, both of which have also submitted Dogecoin-based investment product proposals to the SEC.
Could a Dogecoin ETF Push DOGE to $15?
Prominent crypto analyst Ali Martinez previously suggested that a Dogecoin ETF could propel DOGE’s price to $15, fueling speculation about the coin’s long-term potential.
Dogecoin Price Movement
At the time of writing, Dogecoin is trading at $0.3282, reflecting a 1.80% decline in the past 24 hours. However, the meme coin has still gained 3.70% year-to-date, according to Benzinga Pro.
With growing institutional interest and increasing market speculation, Dogecoin’s ETF journey could be a significant milestone for the broader adoption of meme coins in traditional finance.
