Bitwise files with SEC for spot Dogecoin ETF

Bitwise has filed with the US Securities and Trade Fee to record an exchange-traded fund (ETF) monitoring the value of the favored memecoin Dogecoin.

The proposed Bitwise Dogecoin ETF would maintain Dogecoin (DOGE) and carefully monitor the memecoin’s worth actions, based on Bitwise’s Jan. 28. S-1 filing with the SEC.

Bloomberg ETF analyst James Seyffart noted on X that Bitwise filed to register a Dogecoin belief in Delaware on Jan. 22.

”However this makes it official with the SEC,” he mentioned.

Bitwise’s S-1 submitting have to be accompanied by a 19b-4 submitting to kickstart the approval or denial course of for the dog-themed memecoin fund. DOGE has amassed a $47 billion market cap since launching in 2015 and is the eighth-largest cryptocurrency total.

Bitwise listed Coinbase Custody because the proposed custodian of the spot Dogecoin ETF, a preferred selection amongst issuers providing crypto exchange-traded merchandise.

Bitwise’s submitting left the proposed charge and ticker for the ETF clean and didn’t specify which inventory alternate it will be listed on if permitted.

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The Dogecoin submitting marks Bitwise’s latest effort to expand from the spot Bitcoin (BTC) and Ether (ETH) ETFs it presently has on supply.

It has additionally just lately filed to record a spot Solana (SOL) ETF and an XRP (XRP) ETF.

Bitwise filed to record a Bitwise 10 Crypto Index Fund on NYSE Arca in November, which might monitor ten of the most important cryptocurrencies by market cap, together with the likes of Cardano (ADA), Uniswap (UNI) and Polkadot (DOT).

Dogecoin has fallen 1.2% over the past hour and three.3% over the past day — in keeping with a broader fall in the crypto market.

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