On August 15, Grayscale submitted an application to the SEC, planning to upgrade its existing Dogecoin Trust to a spot ETF, with the code set as GDOG, intending to list on the NYSE Arca.

In terms of predictions, Polymarket gives a passing probability of about 75%, while Bloomberg analysts believe the chance of success by the end of this year is close to 90%, due to the overall regulatory environment becoming more relaxed.

The fundamental consensus around DOGE is indeed strong, but there is still significant selling pressure in the 0.3–0.4 range, making it difficult to double in value. However, the expectations surrounding the ETF hype will bring in incremental funds that will gradually improve liquidity. The market hype before the ETF approval is likely to be larger, and after approval, according to normal market trends, the end-of-year market may already be approaching the end of a bull market, so the Dogecoin ETF is expected to rise before approval and drop for a period after approval.

ETFs for SOL, XRP, LTC, and others are also in progress, all of which can be subjects of speculative expectations.