ETF on Dogecoin may appear very soon | Daily summary of the crypto market

Welcome to "Daily Crypto Market Recap" — your brief overview of key events in the world of cryptocurrencies.

In this digest: will hopes for an ETF for Dogecoin be fulfilled with the new head of the SEC, how the Fed's policy affects the moods of crypto investors, and what Buffett thinks about the future of the market.

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Dogecoin in the Spotlight: ETF Momentum Gains Strength with New SEC Leadership

21Shares has reached an agreement with the Dogecoin Fund to create a new ETP on Dogecoin and announced a partnership with the House of Doge on Wednesday. Previously, the appointment of Paul Atkins as the head of the SEC sparked discussions about the potential launch of a spot ETF on Dogecoin.

Read about who Paul Atkins is in the special BeInCrypto article.

"A spot ETF on Dogecoin is not about fundamental indicators, but about a cultural trend. You can laugh, but it is the retail demand that drives the markets. It can be considered a meme or a movement, it doesn't matter. Its emergence in a regulated format shows how far cryptocurrencies have come from the margins to the center of the cultural stage," commented Mike Cahill, CEO of Douro Labs, for BeInCrypto.

According to Kehill, the focus is shifting from technical aspects to meeting existing market demand:

"With Paul Atkins at the helm of the SEC, we can expect significant changes in the approach of regulators and financial institutions to cryptocurrencies. Atkins has always supported market accessibility and light regulation, which could pave the way for new products such as a spot ETF on Dogecoin. However, his role as head of the SEC is not limited to just Dogecoin — it is a signal of the SEC's readiness to view digital assets as a mature asset class and an important part of the U.S. economy."

Emmanuel Cardozo, a market analyst at Brickken, explained how changes in SEC leadership could impact the future of meme coins in regulated markets.

"Paul Atkins is known for his support of cryptocurrencies — he has been in this field for a long time, and the Trump administration promotes a friendly approach to the crypto industry. In my opinion, the chances of ETF approval have increased. Atkins could open doors for such products, especially after Bitcoin and Ethereum ETFs received the green light last year, setting a precedent," Cardozo said in a comment to BeInCrypto.

Atkins is known for its openness to innovation, especially in the field of digital assets.

"The chances of a Dogecoin ETF appearing are definitely increasing with the appointment of Atkins. He is known for advocating clear rules for cryptocurrencies."

According to Cardozo, the chances are increasing, but approval is not guaranteed by anyone.

"Nevertheless, the question is still unresolved — Dogecoin, like all cryptocurrencies, is known for its high volatility, which may concern regulators. They will likely want to ensure that the product is not too risky for investors."

Despite the optimism regarding regulatory progress, macroeconomic factors continue to influence the short-term outlook of the cryptocurrency market. The likelihood of a Fed rate cut in May has fallen to 15%. Fed officials noted the risks of persistent inflation as the main reason to keep rates unchanged.

This news has lowered hopes for a monetary policy easing in the near future. For the crypto market, this means a possible reduction in liquidity against the backdrop of a strengthening dollar.

Daily Chart on the Cryptocurrency Market

On prediction markets, the chances of ETF approval for DOGE in 2025 are currently 64%.

Market Overview

• Warren Buffett's Berkshire Hathaway holds a record $334 billion in cash, but still avoids bitcoin despite growing interest and capital inflows into ETFs.

• News that Trump postponed the introduction of tariffs supported the stock market. Cryptocurrencies followed suit.

– Bitcoin ETFs have recorded an outflow of $127 million for the fifth consecutive session, indicating a decline in investor confidence. However, futures data shows that the bullish sentiment persists.

• Paul Atkins has been confirmed as the head of the SEC after a Senate vote of (52 against 44). This indicates a continuation of the easing of cryptocurrency market regulations under the Trump administration.

– The founder of Cardano, Charles Hoskinson, stated that Bitcoin BTCUSD could reach $250,000 as early as 2025.

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