狗狗币（DOGE）最终会在华尔街留下自己的印记吗？

继今年比特币和以太坊 ETF 现货获得批准后，资产管理公司已经提交了其他产品的申请，使投资者能够通过传统的经纪账户获得数字资产的投资。

After approving spot Bitcoin and Ethereum ETFs this year, asset managers have already filed applications for other products enabling investors to gain exposure to digital assets through a traditional brokerage account. And it should be expected that firms will keep pushing the envelope further.

在今年批准现货比特币和以太坊 ETF 后，资产管理公司已经提交了其他产品的申请，使投资者能够通过传统的经纪账户获得数字资产的投资。预计企业将继续挑战极限。

Even Dogecoin could get its own spot ETF.

甚至狗狗币也可以拥有自己的现货 ETF。

“The ETF industry is famous for throwing spaghetti at the wall,” Bloomberg ETF analyst Eric Balchunas told Decrypt. “I imagine we'll see all kinds of stuff get attempted, including DOGE.”

彭博 ETF 分析师 Eric Balchunas 告诉 Decrypt：“ETF 行业以向墙上扔意大利面条而闻名。” “我想我们会看到各种各样的东西被尝试，包括 DOGE。”

“I'm actually surprised it hasn't been filed already,” Balchunas added.

“我真的很惊讶它还没有被提交，”巴尔丘纳斯补充道。

Spot Bitcoin ETFs were approved this year, but the first application was filed with regulators over a decade ago, and the process was marked by legal conflict brought on behalf of asset managers. Even though the Securities and Exchange Commission (SEC) later approved spot Ethereum ETFs this year, the development was largely unexpected, and it remains to be seen how the regulator could treat applications for other crypto ETFs in the future.

现货比特币 ETF 今年获得批准，但第一份申请是在十多年前向监管机构提交的，整个过程中代表资产管理公司带来了法律冲突。尽管美国证券交易委员会（SEC）后来在今年批准了以太坊 ETF 现货，但这一进展很大程度上出乎意料，监管机构未来如何处理其他加密 ETF 的申请还有待观察。

Bitwise Senior Investment Strategist Juan Leon told Decrypt that regulators have historically applied a high level of scrutiny to applications for crypto ETFs, presenting a difficult path to approval for an asset like Dogecoin under the SEC’s current administration.

Bitwise 高级投资策略师 Juan Leon 告诉 Decrypt，监管机构历来对加密 ETF 的申请进行严格审查，在 SEC 现任管理下，像狗狗币这样的资产获得批准面临着一条艰难的道路。

When evaluating applications for spot ETFs, the SEC has typically required that a digital asset—whether it’s Bitcoin or Ethereum—both have a regulated futures market and substantial liquidity in its spot market, Leon said. Under the framework set forth by current SEC leadership, “Doge wouldn't meet those qualifications.”

Leon 表示，在评估现货 ETF 的申请时，美国证券交易委员会通常要求数字资产（无论是比特币还是以太坊）都拥有受监管的期货市场，并在现货市场拥有大量流动性。根据现任 SEC 领导层制定的框架，“Doge 不符合这些资格。”

However, with SEC Chair Gary Gensler likely to depart following Donald Trump’s White House win, the regulator could take a more hands-off approach to approving applications, Leon said.

然而，莱昂表示，随着唐纳德·特朗普入主白宫，美国证券交易委员会主席加里·詹斯勒可能会离职，监管机构可能会采取更加不干涉的方式来批准申请。

Even so, he thinks that ETFs for Ripple (XRP), Solana (SOL), and Avalanche (AVAX) would come first, as tokens with utility that aren’t commonly known for being a $55 billion joke.

即便如此，他认为 Ripple (XRP)、Solana (SOL) 和 Avalanche (AVAX) 的 ETF 会首先出现，因为这些代币具有实用性，但通常不以 550 亿美元的笑话而闻名。

“If there is regulatory clarity [...], you could ostensibly see issuers pursue a Doge ETF, and I could see it getting approved at some point,” Leon said. “It certainly has demand from the retail audience, so I can see an issuer being interested in launching it.”

“如果监管明确 [...]，表面上你可以看到发行人追求 Doge ETF，而且我可以看到它在某个时候获得批准，”莱昂说。 “它肯定有零售受众的需求，所以我可以看到发行人有兴趣推出它。”

Several asset managers filed for approval to launch spot ETFs covering Ripple, Solana, and Litecoin as Election Day approached. Filed in October, the SEC has yet to weigh in on the applications. Meanwhile, no firm has yet to file an application for a Dogecoin ETF, even outside the U.S.

随着选举日的临近，多家资产管理公司申请批准推出涵盖 Ripple、Solana 和 Litecoin 的现货 ETF。 SEC 于 10 月份提交了申请，但尚未对这些申请进行权衡。与此同时，即使在美国境外，还没有公司提交狗狗币 ETF 申请

According to Grayscale Head of Product and Research Rayhaneh Sharif-Askary, Dogecoin is the largest asset in the firm’s Consumer and Culture Crypto Sector. Classified as a leader in media and entertainment, Sharif-Askary told Decrypt that the meme coin is something of an anomaly.

Grayscale 产品和研究主管 Rayhaneh Sharif-Askary 表示，狗狗币是该公司消费者和文化加密货币领域最大的资产。谢里夫-阿斯卡里被列为媒体和娱乐领域的领导者，他告诉 Decrypt，模因币有些反常。

While playful in nature, he said that Dogecoin has seen genuine use as a peer-to-peer currency.

他说，虽然本质上很有趣，但狗狗币已经被真正用作点对点货币。

“Memes have existed since the dawn of civilization,” she said, pointing to cave paintings and Roman graffiti. “While it was once easy to dismiss meme coins due to their playful nature, it would be irresponsible to ignore DOGE’s usage on-chain and the very real use case that is being fulfilled.”

“自文明诞生以来，迷因就已经存在了，”她指着洞穴壁画和罗马涂鸦说道。 “虽然人们很容易因为 Meme 币的有趣性质而忽视它们，但忽视 DOGE 在链上的使用以及正在实现的非常真实的用例是不负责任的。”

As an ETF candidate, Grayscale has been keeping tabs on Dogecoin. While not currently included in any of Grayscale’s products, the asset manager said in an October blog post that Dogecoin is “under consideration” for inclusion in future products

作为 ETF 候选者，Grayscale 一直在密切关注狗狗币。虽然目前尚未包含在 Grayscale 的任何产品中，但该资产管理公司在 10 月份的一篇博客文章中表示，狗狗币“正在考虑”包含在未来的产品中