Dogecoin ETF: The Meme Coin That Might Just Outshine Solana and XRP

by

Analysts James Seyffart and Eric Balchunas, the dynamic duo of ETF predictions, have thrown a curveball. They’ve decided that Litecoin is the golden child, but wait—there’s a twist. Dogecoin, the meme coin that refuses to die, might just outshine Solana and XRP. 🐕💎

Why? Because the SEC apparently thinks Dogecoin is more of a commodity than a security. Who knew a coin with a Shiba Inu mascot could be so… serious? Either way, expect some SEC drama soon. 🍿

Security Vs Commodity: The Eternal Crypto Drama

Since Gary Gensler left the SEC, it’s been a free-for-all in the ETF world. New firms are popping up like mushrooms after rain, and Bitwise is leading the charge with a Dogecoin ETF. Yes, you read that right. A meme coin ETF. 🚀

Seyffart and Balchunas, the Nostradamuses of ETFs, have been busy ranking approval odds. Litecoin is their top pick, but Dogecoin? It’s the dark horse. 🐎

Litecoin’s got regulatory clarity, being a Bitcoin fork and all. But Dogecoin? It’s the underdog that might just steal the show. Seyffart dropped this gem:

“Big implications/expectations in these odds are that: 1. Filings will be acknowledged. Likely this week for XRP & Dogecoin. 2. The SEC & Commissioner Peirce’s Crypto task force will untangle some of the security vs commodity implications from lawsuits by the end of 2025,” Seyffart claimed.

Hester Peirce’s Crypto Task Force is on a mission to classify more cryptos as commodities. This could be a game-changer for Litecoin and Dogecoin, but Solana? Not so much. And XRP? Well, the SEC is still in a legal tussle with Ripple, so don’t hold your breath. ⚖️

Despite the drama, Seyffart and Balchunas are optimistic. The SEC will start acknowledging more ETF applications soon. Grayscale’s already on it with a Dogecoin Trust and a Cardano ETF. The industry is buzzing, and it’s looking bullish. 🐂

Read More

2025-02-11 03:54