Well, well, well... how the tables have turned.

Dogecoin, the coin that started as a joke, is now getting serious attention from the SEC (and in a good way this time.)

Polymarket's betting odds just shot up to 74% for ETF approval by 2025, up a massive 37% since Trump settled back into the Oval Office.

Looks like this Doge has a strong bark, after all.

The Regulatory Roundup

Something's different at the SEC these days – they're not just looking at Bitcoin and ETH anymore but actually acknowledging Grayscale's DOGE filing.

Even Fox Business's Eleanor Terrett couldn't help but notice the shift in tone, which is a lot coming from a mainstream cable network.

Recall that the slew of Solana ETF applications got ghosted back in December. 

Maybe Trump was just too busy settling into the White House because those vibes shifted massively in just two months.

Timing Is Everything 

The clock's officially ticking with a 240-day review window, and if everything lines up perfectly, we could see a decision by mid-October.

Though the degens on Polymarket aren't too hopeful about July – giving it a measly 34% chance.

But keep in mind this is crypto, and a few months might as well be a lifetime in our industry.

Over in London, Bitwise's CIO Matthew Hougan shared his thoughts on the matter, offering some insight that meme coins need three ingredients for ETF approval: liquid markets, global reach, and minimal whale games.

And wouldn't you know it – DOGE might actually fit the bill by checking all those boxes.

Just don't expect every dog-themed token to get the same treatment – after all, this is the original Dogecoin we’re talking about here… and Elon Musk sort of named the Department Of Government Efficiency after the thing, so it has a bit of clout on the Hill. 

Back To Earth 

Let's cut through the hopium for a second and talk about the fact that  DOGE doesn't exactly have Bitcoin's fundamentals.

However, it's got something else going for it – a community that makes Bitcoin maxis look quiet.

And in crypto, sometimes that's worth more than any whitepaper.

We can’t forget that Washington runs on public sentiment and perception, and if a group of constituents gets loud enough, things actually seem to move.

If this ETF actually happens, we're talking serious institutional firepower – TradFi boys won't need to figure out MetaMask anymore to get their hands on everyone’s favorite pep.

They can just click 'buy' on their Bloomberg terminals, and that's when the real fun begins.

To Approve Or Not To Approve

The signs are all pointing in the right direction – the SEC continues to warm up, the markets are optimistic, and even the skeptics are starting to nod along to the crypto ETF beat.

But this is still a digital coin with a dog on it that we're talking about, so keep your wits a bout you. 

Stay sane out there – this ETF game is far from over.