Could we soon see a Dogecoin ETF hitting the market? It’s looking more likely! NYSE Arca has officially submitted an application to the U.S. Securities and Exchange Commission (SEC) for the listing of the Bitwise DOGE ETF. Analysts are now estimating a solid 75% chance that approval could happen by 2025.

But here’s the real question: will this move actually impact the price of DOGE?

NYSE Moves Forward with 19b-4 for Bitwise Dogecoin ETF

Just a month after Bitwise filed its S-1 application with the SEC, NYSE Arca followed up with a 19b-4 filing to get the ball rolling for a Dogecoin ETF.

According to the official filing: “Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (as amended) and Rule 19b-4 thereunder, NYSE Arca, Inc. (‘NYSE Arca’ or ‘Exchange’) proposes to list and trade shares of the Bitwise Dogecoin ETF (‘Trust’) under NYSE Arca Rule 8.201-E (Commodity-Based Trust Shares).”

In simple terms? This ETF is set to hold DOGE as its primary asset, determining its Net Asset Value (NAV) daily based on the CF DOGE USD rate, a widely accepted price benchmark. That means the ETF’s price will closely follow the market price of DOGE itself.

Other Players Enter the Race

Bitwise isn’t the only one pushing for a DOGE ETF. Heavyweights like Grayscale and Rex Shares have also submitted applications. Notably, Grayscale’s proposal is already in an advanced regulatory review phase, with the SEC having already given it a green light.

Meanwhile, market sentiment surrounding a potential DOGE ETF approval in 2025 is becoming increasingly bullish. Data from the prediction platform Polymarket recently showed a 67% probability of approval, a significant jump from just 55% the previous day.

So, are we on the brink of a major milestone for Dogecoin? If these approvals go through, we could see DOGE take another step toward mainstream legitimacy. The question now is: will investors ride the wave or sit on the sidelines?