The Dogecoin ETF race heats up! Bitwise updates its filing, Bloomberg analysts share their insights, and the SEC's next move is anyone's guess. Get the latest!

Dogecoin ETF Buzz: SEC Filings and Bloomberg Analysts Weigh In

The Dogecoin ETF saga continues! With Bitwise updating its SEC filing, the possibility of a DOGE ETF hitting the market is generating excitement. Bloomberg analysts are chiming in, adding fuel to the speculative fire. Let's dive into the latest developments.

Bitwise's Amended Filing: A Step Closer?

Bitwise recently updated its S-1 filing for a spot Dogecoin ETF, a move that has industry observers buzzing. According to a SEC filing, this amendment includes in-kind creations and redemptions, allowing authorized participants to use DOGE directly when creating or redeeming shares. This wasn't part of the initial filing, and Bloomberg's senior ETF analyst Eric Balchunas sees it as a positive sign. He noted in an X post that it indicates engagement with the SEC and aligns with other spot ETF approvals.

In-Kind Redemptions: A Game Changer?

The addition of in-kind redemptions is significant. Currently, crypto ETFs typically exchange tokens for cash and then cash for shares (or vice-versa). In-kind redemptions are considered more tax-efficient. Balchunas believes that if the SEC approves this for a Dogecoin ETF, it's practically a done deal for Bitcoin and other crypto ETFs. SEC Commissioner Hester Pierce also suggested that in-kind redemptions for crypto ETFs are on the horizon.

Bloomberg Analysts' Predictions: XRP vs. DOGE

So, when can we expect a Dogecoin ETF? Balchunas and fellow Bloomberg analyst James Seyffart have weighed in, predicting that an XRP ETF is likely to get the green light before a DOGE ETF. They give XRP a 95% chance of approval in 2025, compared to a 90% chance for DOGE this year. Factors like XRP's regulated futures market and the nearing end of the XRP lawsuit give it an edge. However, both XRP and Dogecoin ETFs share a final SEC deadline of October 17th, leaving open the possibility of simultaneous approvals.

The Big Picture: A More Crypto-Friendly SEC?

There's a growing sense that the SEC, potentially under a new administration, might be adopting a more lenient approach to crypto ETFs. This is reflected in the increasing number of filings for ETFs tracking various cryptocurrencies, from XRP and Solana to Dogecoin and even