Bitwise Files Application to Launch the First Dogecoin ETF in the US

Bitwise Asset Management, a leading cryptocurrency investment firm, has taken concrete steps toward launching the first Dogecoin exchange-traded fund (ETF) in the United States.

Bitwise Asset Management, a leading cryptocurrency investment firm, has filed an application with federal regulators to launch the first Dogecoin exchange-traded fund (ETF) in the United States. The company's statutory trust was registered in Delaware last week, paving the way for this significant development.

This ETF would enable investors to gain exposure to Dogecoin’s price movements through traditional investment accounts. Currently ranked eighth by market capitalization, Dogecoin trades at $0.32.

Recent data from Coin Shares reveals that crypto-focused funds have attracted over $4 billion in capital during the first weeks of 2025.

The legal groundwork for the Dogecoin ETF was established when Bitwise registered the “BITWISE DOGECOIN ETF” as a statutory trust through CSC Delaware Trust Company in Wilmington. This trust will serve as the applicant for the ETF with the Securities and Exchange Commission (SEC).

If approved, the Dogecoin ETF would join Bitwise's existing crypto investment products, such as their Bitcoin ETF and Ethereum ETF, which trade on U.S. stock exchanges. Additionally, the company has filed applications for Solana and XRP-based ETFs.

In early 2024, the SEC took a historic step by approving Bitcoin and Ethereum-based ETFs, opening up the possibility for institutional investors to enter the digital asset market through regulated vehicles.

Throughout this period, Dogecoin has seen significant price movements, reaching a three-year high of $0.475 in November 2024. This上昇 coincided with increased social media activity from Elon Musk regarding his D.O.G.E. initiative.

The SEC usually makes an initial decision on ETF applications within 45 days, although this period can be extended multiple times, up to 240 days from the filing date. Based on this timeline, a decision on the Dogecoin ETF could come as early as March 2025.

Some technical analysts predict potential price movements above $2 for Dogecoin, based on historical patterns and market indicators.

Following the approval of Bitcoin and Ethereum ETFs, there has been increased institutional participation in the cryptocurrency market. This trend has encouraged asset managers to explore investment vehicles for other digital assets.

Several other issuers have also submitted applications for ETFs based on various cryptocurrencies, including Official Trump, Bonk, and HBAR. This diversification reflects growing interest in cryptocurrency investment products beyond the major assets.

Bitwise's move comes as traditional financial institutions continue to expand their digital asset offerings. The company's experience with existing crypto ETFs positions it as a key player in the evolving landscape of regulated cryptocurrency investments.

Currently, investors seeking exposure to Dogecoin must either purchase the cryptocurrency directly through exchanges or invest in related products. An ETF would provide a regulated alternative through traditional brokerage accounts.

The timing of Bitwise's application also aligns with broader changes in the regulatory environment under the new SEC leadership during President Trump's administration, which some market observers suggest could lead to more approvals for crypto-based investment products.