Crypto index fund manager Bitwise submits registration filing in Delaware for a potential Dogecoin exchange-traded fund

Widely considered the first memecoin, Dogecoin was created as a joke in 2013 by software engineers Markus and Jackson Palmer.

Crypto index fund manager Bitwise has filed a registration statement in Delaware for a potential Dogecoin exchange-traded fund, the firm's chief investment officer confirmed to The Block.

“This is from us,” Bitwise Asset Management Chief Investment Officer Matt Hougan wrote to The Block late Wednesday evening when asked about the registration for a “Bitwise Dogecoin ETF” with Delaware's Department of State's Division of Corporations filed a few hours earlier.

Dogecoin, largely considered the first memecoin, was created as a joke in 2013 by software engineers Markus and Jackson Palmer. The token has seen renewed interest in recent months following the establishment of the Department of Government Efficiency under then-President Donald Trump.

Many speculated it was only a matter of time before a sponsor filed for a Dogecoin ETF.

“I am still surprised that no issuer has filed for a Dogecoin ETF yet,” ETF Store President Nate Geraci said in a Jan. 15 post on X. “7th largest digital asset by market cap. Worst case, it’s a marketing expense for the issuer. Best case, you get an extremely lenient SEC who approves it, along w/ Elon touting it.”

As it happens, the Doge logo appeared on the website of the Elon Musk-led new department earlier this week.

“Today's satire is tomorrow's ETF,” Bloomberg senior ETF analyst Eric Balchunas told The Block in November 2024. “You could ask yourself, 'is DOGE a bridge too far?' and I would say we'll see. I think someone's gonna try it because why not?”

Osprey Funds and Rex Shares filed several proposals for exchange-traded funds earlier this week, including a DOGE ETF.

It was also announced that U.S. Securities and Exchange Commission Commissioner Hester Peirce will lead a crypto task force.

“The newly established crypto task force, led by Commissioner Hester Peirce, could accelerate the approval of a broader range of crypto ETFs, including SOL, XRP, LTC, DOT, and DOGE,” 21Shares Crypto Research Strategist Matt Mena said in a statement.

The price of doge trades around $0.36 at press time, according to The Block's DOGE price data. It has a market cap of $54 billion.