Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Dogecoin ETF in 2025 a Possibility as TradFi Warms to Meme Coins: Wintermute

Dogecoin ETF in 2025 a Possibility as TradFi Warms to Meme Coins: Wintermute

CryptoNewsNetCryptoNewsNet2025/01/17 10:55
By:decrypt.co

The growth of crypto-focused ETFs is expected to accelerate this year, with one seminal meme coin tapped as the likeliest candidate to lead the charge.

“In 2025, a core asset manager will launch a meme coin ETF…Our money’s on DOGE,” crypto trading firm Wintermute wrote in a Friday report.

Traditional financial institutions showed a notable interest in trading meme coins last year, with Solana-based tokens Dogwifhat (WIF), BONK (BONK), and PONKE (PONKE) driving Wintermute’s Over-the-Counter (OTC) market share growth from 0.3% in 2023 to 5.1% in 2024, it wrote.

No asset manager has yet filed for a spot Dogecoin ETF in the U.S., but Jake Ostrovskis, an OTC trader at Wintermute, stood by the firm’s prediction. He acknowledged, however, that Wintemute’s call was intended to be somewhat tongue-in-cheek.

“Volume ultimately drives interest, which ultimately drives indexation,” he said. “If the meme coin sector does continue, you can imagine where it goes, and the most liquid name within that [group] is DOGE.”

Dogecoin was created in 2013 as a joke, parodying the industry with its explicit lack of utility.

Since then, it’s been popularized by tech CEO Elon Musk. Meme coins, in general, have become one of crypto’s hottest trends—even if they trade on little more than vibes and are as volatile as crypto gets.

I remain shocked that no issuer has filed for Dogecoin ETF…

7th largest digital asset by market cap.

Worst case, it’s a marketing expense for the issuer.

Best case, you get an extremely lenient SEC who approves it, along w/ Elon touting it.

— Nate Geraci (@NateGeraci) January 16, 2025

Among traditional financial institutions, OTC spot volumes for meme coins increased 210% from 2023 to 2024, per the report. Overall, meme coins became more popular, representing 16% of Wintermute's OTC volumes in 2024 compared to 7% in 2023.

OTC trading desks are typically tapped by financial institutions looking to execute large transactions. Within the context of crypto, they can often provide traders with better prices by operating on multiple exchanges instead of just one platform.

As Ostrovskis described it, a portion of Wintermute’s counterparties come from a traditional finance background. The crypto market’s fragmentation can be a headache, with “so many different tokens and so many different chains,” he said.

Dogecoin and Shiba Inu respectively accounted for 53.6% and 34.6% of Wintermute’s OTC volumes in 2024, yet other coins saw an uptick in popularity.

Among the most prevalent were Dogwifhat and Pepecoin (PEPE), which saw volumes increase to 1.4% and 9%, respectively.

Still, Ostrovskis said that shifting narratives within crypto could impact OTC volumes, with Wintermute’s counterparties becoming particularly interested in trading meme coins last March and an “AI angle” toward the end of the year.

“It gets a lot of attention when it's hot,” he said. “But at the moment, it has cooled down a lot.”

Edited by Sebastian Sinclair

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

ETH Bull Market through the Eyes of a 24-word Cryptography Expert: End-of-Year Target $4000, Is it the Starting Point or the Finishing Line?

Experts predict that the price of Ethereum (ETH) will reach an average of $4,308 by the end of 2025, rise to $10,882 by the end of 2030, and further climb to $22,374 by the end of 2035.

BlockBeats2025/07/23 03:09
ETH Bull Market through the Eyes of a 24-word Cryptography Expert: End-of-Year Target $4000, Is it the Starting Point or the Finishing Line?