Chance of Dogecoin ETF Approval Exceeds 30%

Cryptocurrency analyst Andrew Kang has expressed optimism regarding the approval prospects of a Dogecoin ETF. Kang believes that the chances of greenlighting a Dogecoin-based Exchange-Traded Fund are higher than 30%. He cites recent regulatory shifts favoring Bitcoin ETF applications, the potential victory of Donald Trump in the presidential election, and Dogecoin's decentralized nature as contributing factors. Despite Ethereum ETF discussions dominating headlines, Kang emphasizes the overlooked potential of a Dogecoin ETF.

Kang highlights Dogecoin's significant market capitalization and its unique decentralized structure as key elements supporting ETF approval. Unlike many altcoins, Dogecoin has never been privately sold or centrally controlled, making it less likely to be classified as a security. Kang argues that Dogecoin's resilience to the Howey Test, a measure for identifying securities, further strengthens its case for ETF approval.

Financial attorney Scott Johnsson presents a contrasting view, suggesting that the US Securities and Exchange Commission (SEC) would not approve a Dogecoin ETF until a major American bank's investment division initiates futures trading for DOGE. Johnsson argues that even the Trump administration would be unable to alter this regulatory dynamic.

In summary, while Andrew Kang remains optimistic about a Dogecoin ETF's approval, legal experts like Scott Johnsson caution against premature expectations, emphasizing the significance of regulatory compliance in ETF authorization.