21Shares has become the latest asset management company to officially file for a spot Dogecoin (DOGE) ETF, signaling a growing interest from institutions in this meme coin. On Tuesday, Nasdaq submitted form 19b-4 to list and trade the 21Shares Dogecoin ETF.

This step follows 21Shares filing an initial S-1 registration on April 9, with the company also announcing an exclusive partnership with House of Doge to develop Dogecoin-backed financial products.

This move is not just a routine filing but reflects a significant shift: Dogecoin, once considered a joke, is now being taken seriously in the U.S. financial system.

The political and regulatory landscape has changed significantly by 2025. After Paul Atkins was appointed as the new SEC Chairman under President Donald Trump, the SEC has shown a marked pro-cryptocurrency stance. Atkins has publicly criticized the previous administration's approach, blaming it for stifling innovation through excessive regulatory barriers.

This new leadership team has paved the way for several spot Bitcoin ETFs in January 2024 and a spot Ethereum ETF in July 2024. Analysts believe this friendlier atmosphere will significantly improve the chances for altcoin ETFs, particularly Dogecoin, with Bloomberg analysts suggesting a 75% approval probability earlier this year.

What Are the Chances of Approval for the Dogecoin ETF?

Given the SEC's recent history of approving Bitcoin and Ethereum ETFs — and the Trump administration's public pro-cryptocurrency stance — it is very likely that a Dogecoin ETF could receive the green light within a few months. Bloomberg Intelligence predicts a 75% chance of approval for the Dogecoin ETF, second only to Litecoin at 90%.

However, the approval process still includes a crucial review phase after the 19b-4 filing is validated and published in the Federal Register. Assuming there are no major obstacles, the earliest approval could occur by the end of 2025.

How Could This Impact the Price of $DOGE?

Traditionally, the approval of ETFs for cryptocurrency assets has had a positive impact on their respective token prices. When the spot Bitcoin ETF was approved in early 2024, Bitcoin's price rose over 40% within weeks. If Dogecoin's ETF is approved, it could trigger a similar price increase, especially considering its modest current price of around $0.18.

A successful Dogecoin ETF could not only attract institutional investors but also spark excitement among retail investors, potentially pushing DOGE back to previous all-time highs and even beyond. Cautious forecasts suggest that the ETF launch could initially lift DOGE to the $0.30–$0.40 range, with further price increases possible if the overall cryptocurrency market remains optimistic.

Is Dogecoin Ready for Its Golden Era?

Although Dogecoin was created as a joke in 2013, its popularity, branding, and community have maintained its relevance. Collaborating with the Dogecoin Foundation and House of Doge will add credibility and infrastructure to the project, which may be exactly what institutional investors need to seriously allocate capital into DOGE.

However, investors must remember that Dogecoin remains highly volatile and is influenced by memes more than Bitcoin or Ethereum. Any ETF investment will still carry significant risks, although it could offer substantial rewards if mainstream adoption accelerates.

Final Prediction: Could DOGE Reach New Highs in 2025?

If the 21Shares Dogecoin ETF is approved — likely under the new SEC regime — Dogecoin could witness a explosive price surge. Based on historical ETF approval reactions and the loyal fanbase of Dogecoin, a price surge towards the range of $0.30–$0.50 seems reasonable by the end of 2025.

However, as is often the case in the cryptocurrency market, caution is key. External macro factors, regulatory updates, and broader market sentiment will all play significant roles in shaping Dogecoin's next major move.