The push for a spot Dogecoin ETF is gaining serious ground following a dramatic shift in regulatory tone. As of this week, the U.S. Senate has confirmed Paul Atkins as the new chair of the Securities and Exchange Commission (SEC), a move that crypto advocates believe could reshape the future of digital asset regulation in the United States.
Spotlight on DOGE: 21Shares and House of Doge Propose New ETP
On Wednesday, asset manager 21Shares announced a partnership with House of Doge, with support from the Dogecoin Foundation, to introduce a new Dogecoin Exchange-Traded Product (ETP). The proposal, while still in its early stages, marks a bold step toward mainstreaming DOGE in traditional financial markets.
While some critics dismiss it as meme-fueled noise, industry leaders argue the demand is real and worth recognizing.
“A spot Dogecoin ETF is not about fundamentals; it’s really about driving cultural momentum. It’s easy to laugh it off, but retail demand drives markets—and this product validates that. Whether you see it as a meme or a movement, packaging it in a regulated wrapper shows just how far crypto has come from the fringe of the zeitgeist to the front and center of the cultural stage.” Mike Cahill, CEO at Douro Labs said.
Cahill emphasized that meeting investors where they are matters more than debating whether Dogecoin “deserves” an ETF. To him, the product reflects a broader shift in how institutions and regulators interpret crypto’s role in finance.
SEC’s New Direction: What Paul Atkins Brings to the Table
With Paul Atkins now leading the SEC, optimism is rising within the crypto space. Known for advocating market access and light-touch regulation, Atkins’ leadership signals a pivot away from the restrictive policies of his predecessor.
“The potential for a Dogecoin ETF definitely goes up with Atkins in charge, no question. He’s known for wanting clearer rules for crypto, which could make the SEC more open to approving something like this, especially with dozens of other crypto ETF proposals already on their desk.”
Analysts agree. Enmanuel Cardozo, a market analyst at Brickken, said Atkins’ appointment—combined with Trump’s pro-crypto administration—could tilt the odds in DOGE’s favor.
Atkins also supports clearer frameworks for crypto, which may push the SEC toward faster, more transparent decisions on ETF proposals already under review.
Cautious Optimism: Regulatory Risk Still Lingers
Despite the growing buzz, analysts urge caution. Dogecoin’s high volatility remains a sticking point that could deter approval, at least in the short term.
“That said, it’s not a done deal—Dogecoin as all cryptocurrencies have a history of being very volatile, which might give regulators pause, and they’ll probably want to make sure it’s not too risky for investors.”
Still, prediction markets suggest the odds are leaning in DOGE’s favor. Current estimates place the likelihood of ETF approval in 2025 at 64%—a notable increase from earlier projections.
Fed Policy Adds Complexity to Crypto’s Path Forward
Beyond the SEC, macroeconomic forces continue to shape crypto sentiment. The Federal Reserve’s recent decision to pause interest rate hikes—fueled by Trump’s 90-day tariff truce and hawkish FOMC minutes, has shaken expectations.
The odds of a rate cut in May have plummeted to just 15%, driven by ongoing concerns about inflation and trade-related price pressure. A stronger dollar and tighter liquidity outlook are weighing on risk assets, including crypto.
Related article: Dogecoin Surges 12% to $0.1974—Will It Hit $0.21 or Fall to $0.14?
Conclusion: Meme to Mainstream? DOGE ETF Looks More Real Than Ever
The cultural impact of Dogecoin has always outpaced its fundamentals. But under new leadership at the SEC and with market appetite intensifying, the dream of a regulated Dogecoin ETF no longer feels far-fetched.
Though approval is not guaranteed, the growing alignment between regulators, institutions, and public demand suggests DOGE may soon graduate from meme to mainstream market player.
