Dogecoin Spot ETF Nears Launch While Bitcoin Poised for Gains Amidst Fed's Quantitative Easing Signals
Dogecoin Spot ETF Nears Launch While Bitcoin Poised for Gains Amidst Fed's Quantitative Easing Signals
Bitwise Asset Management is actively pursuing the launch of the first US spot Dogecoin ETF, with a projected effective date of November 26. Concurrently, the broader cryptocurrency market, particularly Bitcoin, is bracing for potential significant gains as the Federal Reserve indicates a return to quantitative easing, which is expected to inject substantial liquidity into global markets and drive investment into risk assets.
First Spot Dogecoin ETF on the Horizon
Bitwise Asset Management is moving forward with plans for the first US spot Dogecoin ETF, aiming for it to become effective as early as Tuesday, November 26. The firm invoked Section 8(a) of the Securities Act, a mechanism that can lead to automatic effectiveness of a registration statement within 20 days unless the Securities and Exchange Commission (SEC) intervenes. This development marks a significant step for Dogecoin, potentially opening new avenues for institutional investment.
Quantitative Easing Signals Point to Potential Bitcoin Boom
Signals from the Federal Reserve hinting at a return to quantitative easing could unleash a new wave of global liquidity. This scenario is widely anticipated to benefit risk assets, including the cryptocurrency market. Analysts suggest that such monetary policy could drive Bitcoin and other altcoins towards substantial returns, with some even forecasting up to 100x gains, as investors seek higher-yielding opportunities in an environment of increased liquidity.