Katherine Dowling, the general counsel of Bitwise Asset Management, has revealed that the United States Securities and Exchange Commission (SEC) is still waiting for the validation of Paul Atkins’s nomination as the new chairman. As a result, several decisions regarding crypto assets, including the legal status of Dogecoin (DOGE), may be validated more quickly. Interestingly, a Dogecoin ETF may be approved faster than other cryptocurrencies such as XRP and Solana, as the SEC does not consider DOGE to be a security.
Katherine Dowling stated that the SEC is currently in a transitional phase and needs to wait for the confirmation of Paul Atkins’s appointment as the new chairman. The determination of the securities attributes of assets like SOL and XRP will be decided by the new chairman.
In terms of securities status, it is still uncertain whether certain cryptocurrencies, including XRP and Solana (SOL), will be classified as securities or not. However, DOGE does not have to deal with this issue. The SEC does not view DOGE as a security, which makes its growth as an investment asset more transparent and opens up the possibility of a Dogecoin ETF.
Earlier, it was reported that Bitwise filed an S-1 registration with the SEC to introduce a Dogecoin spot ETF. This indicates that major investment firms consider DOGE to be a valuable asset that can be used as an official financial instrument.
Furthermore, the US crypto regulatory landscape is also undergoing changes. President Donald Trump has signed an executive order to establish a regulatory structure for digital assets. This move could expedite the approval of other crypto ETFs, including Dogecoin. If favorable regulations for digital assets are implemented, the SEC may be more open to allowing crypto-based ETFs, especially those that are not classified as securities.
Additionally, the recent shift in SEC leadership to Paul Atkins, a supporter of financial innovation, could accelerate this process even further. DOGE investors are hopeful that this change will bring a breath of fresh air to their future in the traditional financial market.
At the time of writing, DOGE was trading at around $0.2675, with a 1.14% correction over the past 24 hours. This drop has also caused its market capitalization to fall below the $40 billion mark.