Following the approval of the Bitcoin and Ethereum ETF, ETF applications have been made for other altcoins, including XRP, Solana (SOL), Litecoin (LTC) and Hedera (HBAR).

While it is said that the first altcoin to receive approval among these applications will be Litecoin, it was stated that the Solana ETF approval could be postponed until 2026.

It is claimed that some altcoins that do not currently have any ETF applications may also receive approval from the SEC. One of these is Dogecoin (DOGE).

Wintermute analysts noted that no asset manager in the US has yet applied for a Dogecoin ETF, but 2025 could be a turning point for DOGE.

“In 2025, a fundamental asset manager will launch a memecoin ETF… The most liquid name is DOGE. Our money is in DOGE.”

Analysts noted that traditional financial institutions are showing intense interest in memecoins in 2024, with Solana-based memecoins Dogwifhat (WIF), BONK (BONK), and PONKE (PONKE) propelling Wintermute’s Over-the-Counter (OTC) market share growth from 0.3% in 2023 to 5.1% in 2024.

The analysts also added that Dogecoin and Shiba Inu account for 53.6% and 34.6% of Wintermute’s OTC volumes in 2024, respectively.

While the Dogecoin ETF talk has been on the rise in recent days, ETF Store President Nate Geraci also expressed his surprise that no DOGE ETF applications have been received to date, saying, “I’m still surprised that no issuer has applied for a Dogecoin ETF… It’s the 7th largest digital asset by market cap. At worst, it’s a marketing expense for the issuer. At best, you get a very lenient SEC that approves it and Elon praises it.”

While talk of a DOGE ETF is growing, Polymarket rates suggest that investors have low confidence in it happening. According to Polymarket data, the Dogecoin ETF is priced at just 36% for approval in 2025.

*This is not investment advice.