Dogecoin ETF Gains Attention as Holding Time Surges

YEREVAN (CoinChapter.com) —  Discussions about a Dogecoin (DOGE) ETF have intensified as analysts evaluate the potential for regulatory approval. Analysts James Seyffart and Eric Balchunas assessed various cryptocurrency ETFs and noted that DOGE has higher chances of approval compared to Solana (SOL) and XRP.

They believe the SEC is likely to classify Dogecoin as a commodity, making it easier for an ETF to be approved. This is similar to how Litecoin (LTC) is viewed, as it is a fork of Bitcoin and already has regulatory clarity. While a Litecoin ETF is expected to be the first approved, DOGE’s liquidity and market activity give it a strong position in the approval process.

The SEC’s classification of assets as either securities or commodities plays a key role in ETF approvals. With former SEC Chair Gary Gensler no longer in office, there has been an increase in new ETF applications. The Bitwise filing for a Dogecoin ETF signals growing institutional interest in the meme coin.

Hester Peirce’s Crypto Task Force is expected to determine the status of more cryptocurrencies. If DOGE is classified as a commodity, it could fall under CFTC jurisdiction, reducing regulatory barriers. In contrast, Solana faces challenges due to concerns over centralization, while XRP remains tied to an ongoing SEC lawsuit over whether it qualifies as a security.

Growing Institutional Interest in Dogecoin ETFs

Grayscale recently launched a Dogecoin Trust, showing that institutional investors are considering DOGE for structured investment products. This move aligns with the broader trend of altcoin ETF applications. Analysts suggest that DOGE’s ETF filing could be acknowledged in the near future, though the SEC has not confirmed this yet.

DOGE’s market position, trading volume, and commodity classification potential strengthen its chances of an ETF approval.

DOGE Holding Time Increases by 302%

Dogecoin (DOGE) experienced price movement between $0.2540 and $0.2700 in the past 24 hours, according to TradingView data. The latest recorded price stands at $0.25795, showing volatility within this range.

Meanwhile, data from IntoTheBlock shows that DOGE holding time has increased by 302% in the past week. Traders are keeping their DOGE for longer periods, reducing the number of coins moving on exchanges. This suggests lower selling pressure in the market.

DOGE Market Indicators Reflect Strong Buying Interest

DOGE’s funding rate currently stands at 0.0040%, indicating that more traders are willing to pay to hold long positions. Funding rates track the fees exchanged between long and short traders on perpetual futures contracts to keep the price aligned with the spot market.

A rising Chaikin Money Flow (CMF) value, now at 0.06, signals that more capital is flowing into DOGE rather than out. The CMF indicator measures the strength of buying and selling pressure in the market. A positive value suggests that more traders are purchasing DOGE instead of selling, contributing to its recent price movement.

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