Bloomberg’s senior ETF analyst Eric Balchunas has recently predicted a date for a Dogecoin ETF filing as the concept gains momentum.
Dogecoin has been at the center stage of this cycle’s bull run. Aside from its recent outstanding price performance, the token’s ties with Elon Musk have facilitated growing traction toward the meme coin.
Interestingly, Elon Musk has stated that he has no serious involvement with Dogecoin. However, his role in creating the Department of Government Efficiency (D.O.G.E.) parastatal, named after the leading meme coin, represents one of the moves from him exciting Dogecoin proponents.
While Dogecoin remains a joke coin, its growing popularity has sparked speculation about an exchange-traded fund that tracks the asset’s performance. With the clamoring piling up, Bloomberg’s senior analyst Eric Balchunas recently teased the idea.
Best Date to Submit a Dogecoin ETF
In response to an X post, Balchunas noted that December 31 is the best time to apply for a Dogecoin ETF.
In the context of his comment, the ETF expert seems to be echoing the input from ETF Store’s president, Nate Geraci. For context, Geraci squarely told a user asking when an issuer would file for a Dogecoin ETF that it was a “no brainer.”
The ETF Store president argued that any issuer applying for a DOGE ETF could be doing so for brand publicity rather than financial gains, implying that the filing would be a marketing stunt to endear itself to the Dogecoin community. Notably, a similitude of this move is the XRP ETF application from newly debuted asset manager Canary Capitals.
Meanwhile, Balchunas stated earlier that a Dogecoin ETF is not as odd as it looks. While noting that he is surprised no issuer has filed for the product, he hinted that an application could be imminent.
Impending Cardano ETF Filing?
Notably, an update on filings from notable ETF issuers preceded Geraci’s Dogecoin comments. The president mentioned crypto assets with an ETF filing awaiting approval from the US Securities and Exchange Commission (SEC), including Solana, XRP, and most recently, Hedera.
Following the update, Geraci asserts that he sees at least one issuer eventually applying for a Cardano or Avalanche ETF. The two heavyweights are notable assets in the crypto industry, sitting in the ninth and thirteenth places on the market cap rankings, respectively.
Notably, Trump’s administration is teasing a friendlier crypto regulation for digital assets, which would likely lead to more ETF approvals. If this pulls through, analysts expect an ETF application frenzy.
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