Leading Crypto Asset Manager Bitwise Looks Set to File for a Dogecoin (DOGE) ETF

Just two years ago, getting a Bitcoin exchange-traded fund across the line seemed like an uphill task. After all, the industry had been trying for nearly a decade to no avail.

Leading crypto asset manager Bitwise has registered a Delaware statutory trust called “Bitwise Dogecoin ETF,” through the CSC Delaware Trust Company.

This move could be a first step towards filing for a Dogecoin (DOGE) exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC).

A Delaware statutory trust is a legal entity that offers a cost-efficient and regulatory-compliant structure for managing pooled funds like an ETF.

It provides tax benefits and ensures the separation of the fund from the asset manager's funds.

However, registering a Delaware statutory trust is considered a preparatory step with no guarantee of a near filing.

According to Bloomberg Senior ETF analyst James Seyffart, this is not yet an official ETF filing with the SEC.

“CSC registering a Delaware Statutory Trust. Not an official ETF filing with the SEC yet (CoinShares has had a similar Doge trust registration since Dec 2024 but no official ETF filing),” Seyffart noted.

This development comes after a joint application for a DOGE ETF was filed with the SEC by REX Advisers and Osprey Funds on Tuesday, January 21.

Analysts have noted that this REX-Osprey filing could launch as soon as April 2025.

“Good point on the Doge/Trump ETF filing, these are '40 Act filings and so (theoretically, if they aren't disapproved) could hit the market in early April (75 days after filing) and beat the XRP, Solana, Litecoin ETFs out bc those have to file 19b-4s which have a 240-day clock…,” ETF Trends and Strategy Senior ETF Analyst Eric Balchunas said in a tweet on Monday.

This is because the fund is filed under the 1940 Securities Exchange Act, which has a review period of only 75 days.

Most other crypto ETF products are filed under the 1934 Securities Exchange Act, which has a 240-day review period.

The potential rush of Dogecoin ETF filings comes amid growing institutional demand for crypto and shifting regulatory winds under the Donald Trump administration.

Analysts have been anticipating DOGE ETF filings since at least November 2024. At the time, ETF Store President Nate Geraci described such a move as a “No brainer.”

Dogecoin is widely considered the first meme coin to launch. It is the largest crypto meme coin by market cap, with about $52 billion at the time of writing, making it the seventh-largest crypto overall.

The recent chatter about a potential Bitwise ETF does not appear to have impacted DOGE's price as it trades 5% lower on the day at $0.35 amid a broad market correction.