Bitwise Files Documents to Register a Dogecoin (DOGE) ETF, Polymarket Poll Betting on Approval Nears 50%

Bitwise Asset Management submitted documents to register for a Dogecoin (DOGE) exchange-traded fund. The filing can be found within the Delaware Department of State's Division of Corporations official website.

Crypto fund manager Bitwise Asset Management has filed documents to register a Dogecoin (DOGE) exchange-traded fund (ETF) with the Delaware Department of State. The filing was made on Jan. 22 and can be found on the state agency's Division of Corporations official website. The agent registered on the form is CSC Delaware Trust Company.

Bitwise's application marks the beginning of the process to establish a Dogecoin ETF under the fund manager. A few hours after the news broke, the Polymarket poll betting on the odds of a Dogecoin ETF being approved by the SEC in 2025 stood at nearly 50%.

In the past 24 hours of trading, Dogecoin has slipped slightly by 3.18% to a trading price of $0.35, according to data on crypto.news. Over the past week, the Shiba Inu coin has decreased by nearly 7%. DOGE currently has a market cap of over $45 billion and a 24-hour trading volume of $2.8 billion.

As reported earlier by crypto.news, Dogecoin's price movement has been showing signs of heading towards a bullish breakout amid the ongoing crypto rally.

Is a Dogecoin ETF on the horizon?

Two days prior to Bitwise's Dogecoin ETF registration, another asset manager, REX Shares, also submitted a filing for a Dogecoin ETF with the U.S. Securities and Exchange Commission. In addition to Dogecoin, REX Shares filed for ETFs tied to the official TRUMP meme coin, Bitcoin, Ethereum, XRP, Bonk, and Solana.

Senior ETF analyst at Bloomberg, Eric Balchunas, commented on the rise of the Dogecoin ETF, calling it "surreal" in a recent post on X. He also previously predicted that a Dogecoin filing would come around the end of December.

Dogecoin has been gaining momentum these past few months after President-elect Donald Trump announced the creation of the Department of Government Efficiency to streamline government operations. The acronym "DOGE" is a direct reference to Dogecoin's ticker.

The new department was to be headed by DOGE-enthusiast Elon Musk and American politician Vivek Ramaswamy. However, on Jan. 21, Ramaswamy announced that he would be stepping down from the role, leaving Musk and his team to lead the department.