Bitwise Files for Spot Dogecoin ETF
Bitwise has submitted a filing to the US Securities and Exchange Commission (SEC) seeking approval to list an exchange-traded fund (ETF) that tracks the price of Dogecoin, a well-known memecoin.
According to Bitwise’s S-1 filing with the SEC on Jan. 28, the proposed Bitwise Dogecoin ETF would directly hold Dogecoin and closely follow its price fluctuations.
Bloomberg ETF analyst James Seyffart pointed out on X that Bitwise had previously registered a Dogecoin trust in Delaware on Jan. 22.
”But this makes it official with the SEC,” he stated.
Several issuers have recently filed for crypto memecoin ETFs in the US. Osprey Funds, REX Shares, and Tuttle Capital have all proposed funds that either track or offer leveraged exposure to tokens such as DOGE and the Official Trump (TRUMP) memecoin associated with President Donald Trump.
On Jan. 27, Seyffart remarked that fund issuers are “testing the limits of what this SEC is going to allow” after Tuttle submitted filings for 10 leveraged ETFs tied to popular cryptocurrencies and memecoins.
For the approval or rejection process to begin, Bitwise’s S-1 filing must be accompanied by a 19b-4 filing.
Since its launch in 2015, DOGE has reached a market capitalization of $47 billion, making it the eighth-largest cryptocurrency.
Bitwise has proposed Coinbase Custody as the custodian for its spot Dogecoin ETF, aligning with the choice of many issuers offering crypto exchange-traded products.
The filing did not disclose details about the proposed fee, the ETF’s ticker, or the stock exchange on which it would be listed if approved.
This Dogecoin ETF filing is part of Bitwise’s broader expansion beyond its current spot Bitcoin and Ethereum ETFs.
The firm has also recently submitted filings to launch a spot Solana ETF and an XRP ETF.
In November, Bitwise filed to list the Bitwise 10 Crypto Index Fund on NYSE Arca, aiming to track ten of the largest cryptocurrencies by market capitalization, including Cardano, Uniswap, and Polkadot.
At the time of writing, Dogecoin had declined by 1.2% in the past hour and 3.3% over the past day, reflecting a wider downturn in the cryptocurrency market.
Sources:
https://cointelegraph.com/news/bitwise-files-spot-dogecoin-etf
https://www.sec.gov/Archives/edgar/data/2053791/000121390025007545/ea0228742-s1_bitwise.htm
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