NYSE Arca Files a Proposed Rule Change to List and Trade Shares of the Bitwise Dogecoin ETF

The filing, submitted on March 3, to the SEC, marks a critical step towards bringing a regulated Dogecoin investment product to market.

The New York Stock Exchange (NYSE) Arca has officially filed a proposed rule change to list and trade shares of the Bitwise Dogecoin ETF, according to a Friday filing with the SEC.

The filing, submitted on March 3, to the SEC, marks a critical step towards bringing a regulated Dogecoin investment product to market. If approved, the ETF would provide both institutional and retail investors with direct exposure to Dogecoin, the popular memecoin.

The Bitwise ETF, also covered by DeepChain, is designed to provide a familiar structure for traditional investors. Coinbase will act as the custodian for the ETF’s Dogecoin holdings, ensuring the safe management of the digital assets.

Moreover, the Bank of New York Mellon will be in charge of cash custody and administrative tasks, further vouching for the proposal. These collaborations highlight the increasing convergence of traditional finance and the cryptocurrency domain.

Despite the optimism surrounding the ETF filing, Dogecoin’s price has not been immune to the broader crypto market turbulence.

As of Friday, Dogecoin (CRYPTO: DOGE) slid 15% in the last 24 hours, trading at $0.19. The recent decline, in sync with the overall crypto market crash, wiped out gains from the excitement over Donald Trump’s announcement about crypto reserves.

This signals that perhaps speculation about ETFs is not enough to support Dogecoin’s price in an unstable market.

The filing of the Bitwise Dogecoin ETF is part of a broader trend of increasing interest in cryptocurrency-based investment products.

The SEC is also reviewing Grayscale's application for a standalone Dogecoin Trust, in addition to the Bitwise ETF, with a decision expected by mid-October 2025.

The approval of either product could be a game-changer, transforming Dogecoin from a meme into a viable investment option.

Furthermore, proposals for other altcoin ETFs have also come to light, including those for Cardano, Solana, Polkadot, Litecoin, and XRP.

This surge in applications indicates that both memecoins and well-known altcoins are finding their place in the regulated investment market, potentially making crypto assets more appealing to a wider range of investors.

Also Read: Optimism Builds As SEC Approves Two Spot Bitcoin ETFs

As optimism mounts, market observers are increasingly placing their bets on the likelihood of the ETF being approved.

Polymarket currently shows a 67% probability of the SEC greenlighting the product, while Bloomberg analysts are even more bullish, pegging the odds at 75% before the year's end.