Skip to main content

Is Dogecoin Next In Line To Get ETF Approvals?

By June 13, 20243 minute read

As the crypto market continues to grow, a lot of people are interested in the potential of Dogecoin (DOGE) becoming an approved Exchange-Traded Fund (ETF). In this article, we’ll explore the potential for Dogecoin to receive ETF approval, drawing on insights from notable industry figures like Arthur Hayes, co-founder of BitMEX.

Arthur Hayes Prediction for Dogecoin ETF

Arthur Hayes has recently predicted that Dogecoin will secure ETF approval within the current bull market cycle. During a Sunday interview with Real Vision CEO Raoul Pal, Hayes emphasized the increasing popularity and institutional interest in Dogecoin, suggesting that regulatory bodies will eventually approve a Dogecoin ETF after Bitcoin and Ethereum ETFs hit the US public markets.

Get WazirX News First

Why Will Memecoins Succeed?

Hayes believes memecoins, including Dogecoin, have significant potential in the current market cycle. He attributes this to the Federal Reserve and US Treasury’s ongoing monetary policies, which involve printing more money, thereby increasing liquidity in the market.

For new entrants into the crypto space, memecoins are particularly attractive because of their simplicity and recognizability.

“For the person who has just been began into crypto, it’s literally the easiest thing to understand,” said Hayes. “I don’t need to understand blockchain, and AI, and crypto, and cryptography.”

In a recent blog post, Hayes recommended a strategy of going long on Bitcoin and subsequently on “shitcoins” as a response to recent interest rate cuts by both the Bank of Canada and the European Central Bank. Historically, low-interest-rate environments have been favorable for stocks and Bitcoin, often leading to increased investments in more volatile assets like memecoins.

The Popularity of Dogecoin

Dogecoin has seen a significant rise in popularity and market performance, making it an appealing candidate for ETF providers. Over the past year, Dogecoin has increased by 136%, and its widespread availability on popular platforms further bolsters its accessibility and appeal to retail investors.

“It’s the oldest memecoin,” said Hayes. “If you’re thinking about TradFi getting into crypto and they’re gonna put an ETF on anything they can, it’s a high market cap thing.”

Trends to Watch This Bull Run Cycle

Hayes and Pal also discussed other significant trends and cryptos to watch during this cycle.

  • Pal highlighted Solana as a major part of his portfolio, while
  • Hayes predicted Aptos might surpass Solana in the Layer-1 blockchain space within the next 1 to 3 years.

Risks in the Current Crypto Market

Hayes and Pal also discussed potential risks in the crypto market, particularly those related to large centralized venues dominating significant market segments.

Pal expressed concerns over Deribit’s dominance in the options market. At the same time, Hayes highlighted the risks associated with Coinbase and various banks that custody large amounts of Bitcoin backing the world’s largest Bitcoin ETFs.


As the crypto market expands, the potential for Dogecoin to receive ETF approval seems increasingly plausible. With its high market cap, significant popularity, and the backing of influential figures like Arthur Hayes, Dogecoin is well-positioned to become a mainstream financial asset. However, investors should remain aware of the inherent risks and market dynamics that could impact its trajectory.

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
Participate in the Indian Crypto Movement. Share:
Harshita Shrivastava

Harshita Shrivastava is an Associate Content Writer with WazirX. She did her graduation in E-Commerce and loved the concept of Digital Marketing. With a brief knowledge of SEO and Content Writing, she knows how to win her content game!

Leave a Reply

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.