The U.S. Securities and Exchange Commission (SEC) could eventually see applications for an exchange-traded fund (ETF) based on the price of the meme cryptocurrency Dogecoin. This possibility was suggested by Bloomberg analyst Eric Balchunas in comments to The Block.

“Today’s satire is tomorrow’s ETF. […] Ask yourself, is a DOGE [ETF] too far-fetched? Let’s see. I think someone will try it, because why not?” Balchunas remarked.

Crypto analyst Luis Saikis from All-Star Charts offered a more skeptical view, stating that a DOGE ETF is “far less likely” than a Solana ETF, which he expects the SEC to approve in the first half of 2025.

“Let’s just say Wall Street prefers assets that weren’t born as memes,” Saikis elaborated.

Meanwhile, Alexander Blum, CEO of Two Prime Digital Assets, believes that Dogecoin ETF applications are “inevitable.” The only question, he said, is whether the SEC will approve them.

At the time of writing, Dogecoin ranks seventh among digital assets on Coingecko, boasting a market capitalization of $62.6 billion. DOGE is trading at $0.42, with its all-time high of $0.73 recorded in May 2021.

In November, news emerged that Elon Musk would lead a newly established U.S. Department of Government Efficiency (DOGE).