Crypto Fund Manager Bitwise Asset Management Officially Files for a Dogecoin (DOGE) Exchange-Traded Fund (ETF) With the U.S. Securities and Exchange Commission (SEC)

The news broke after the company submitted its registration to the Delaware Department of State's Division of Corporations on Jan. 23

Crypto fund manager Bitwise Asset Management has officially filed for a Dogecoin (DOGE) exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC).

The news broke after the company submitted its registration to the Delaware Department of State’s Division of Corporations on Jan. 23. The decision was confirmed by Matt Hougan, Bitwise’s Chief Investment Officer, according to a report by The Block.

“This was from us,” Hougan said. The “Bitwise Dogecoin ETF” marks the first attempt by any financial institution to bring a DOGE-focused ETF into the highly regulated U.S. market.

The move comes as no surprise to those following the recent resurgence of Dogecoin under the Trump administration, largely thanks to “First Buddy” Elon Musk.

Created in 2013 by Billy Markus and Jackson Palmer, Dogecoin was conceived as a satirical take on the booming crypto market. For years, the Shiba Inu-themed token languished in the shadow of its more serious counterparts. But things took a dramatic turn last year.

Under the Department of Government Efficiency (D.O.G.E), headed by President Donald Trump, Dogecoin became an unlikely symbol of financial innovation. The department's website even featured DOGE's logo earlier this week, sparking a wave of bullish speculation within the crypto community.

ETF Store President Nate Geraci expressed surprise that no company had taken the step earlier. “I remain shocked that no issuer has filed for a Dogecoin ETF,” Nate said in a X (formerly Twitter) post on January 15.

He noted that DOGE is the seventh-largest cryptocurrency by market capitalization, making the filing a potential marketing win or, at best, a path to SEC approval.

Elon continues to be a major force behind DOGE's mainstream acceptance. Bloomberg ETF analyst Eric Balchunas said in a November 2024 commentary, “Today's satire is tomorrow's ETF. Is DOGE a bridge too far? We'll see.”

The timing of the filing aligns with growing optimism about regulatory reforms. “The hope is that the new administration moves quickly to designate which crypto assets are securities and which aren't,” Geraci added. “Once that framework is in place, the approval path for additional spot crypto ETFs should become much clearer.”