DOGE ETFs Could Be Approved in May as Dogecoin Celebrates 4/20 AllinCrypto April 21, 2025
Dogecoin holders celebrated April 20, or 4/20, as Dogeday, to celebrate the memecoin and its founding in 2013.
Dogeday comes at a time when new updates on the SEC’s review of altcoin ETFs, including Dogecoin, are to be expected.
Despite over $2 million inflation in the token’s supply, Doge has remained a top memecoin for investors and institutional clients wanting a piece of the memecoin pie in web3.
Dogecoin ETFs on the way after DOGE ETP from 21Shares goes live
Doge holders celebrated the community-driven Dogeday on April 20, which gained a following around 2021 in response to the popularity of 4/20, an international weed day.
Supported by Elon Musk, Dogecoin has become one of the largest and most recognisable memecoins in the cryptocurrency industry, becoming the face of memecoins as a whole.
Dogecoin remains within the top 8 cryptocurrencies by market capitalization, in light of the token’s infinite supply and daily emission of over 14 million DOGE tokens each day, worth around $2 million.
Doge’s inflationary tokenomics keep the token’s price at a level that some non-crypto investors see as an advantage. With such regular emissions, it becomes harder for the token to reach eye-watering price levels, which in turn, may psychologically keep the price at an accessible level.
Institutions have recently been jumping into Dogecoin with 21Share’s Dogecoin ETP (Exchange Traded Product), allowing accredited institutions to gain exposure to the meme.
The Doge ETP is currently available on multiple banks and brokerages, including DEGIRO, eToro, Saxo Bank, EasyBank, and many more, with a 2.03% YTD return.
SEC to submit DOGE ETF status in May
The US Securities and Exchange Commission is currently reviewing four Dogecoin ETFs for approval, with status deadlines coming up soon.
Grayscale’s Dogecoin ETF, the Bitwise Dogecoin ETF, 21Shares Dogecoin ETF, and the Osprey Fund Dogecoin ETF are currently in line with Greyscale’s ETF due for a response by May 21.
Reports suggest Bitwise’s ETF could get a response by May 18, while other ETFs from 21Shares and Osprey have yet to receive a deadline since both are awaiting a review of their 19b-4 filings.
The post DOGE ETFs Could Be Approved in May as Dogecoin Celebrates 4/20 first appeared on AllinCrypto.
