US President Donald Trump's second non-consecutive term has brought renewed optimism in the cryptocurrency industry

Adding fuel to the public's positive outlook toward the digital asset sector were Gary Gensler's retirement as US Securities and Exchange Commission (SEC)

The second non-consecutive term of US President Donald Trump has brought renewed optimism in the cryptocurrency industry. Adding fuel to the public’s positive outlook toward the digital asset sector were Gary Gensler’s retirement as US Securities and Exchange Commission (SEC) chair, the appointment of AI and Crypto Czar David Sacks, and the positioning of crypto personalities in key government positions.

One worth mentioning is Treasury Secretary nominee Scott Bessent, who recently met with Senator Cynthia Lummis to discuss the prospect of a national Bitcoin (BTC) reserve. There’s also Acting SEC Chair Mark Uyeda, who just initiated a task force aimed at developing a comprehensive and clear regulatory framework for crypto. Paul Atkins, a former co-chair of the Token Alliance at the industry group Digital Chamber of Commerce, will take over on a permanent basis as SEC chair if Congress approves his nomination.

The positive sentiment revolving in the US has resulted in the filing of a flurry of crypto exchange-traded funds (ETFs). In addition to Bitcoin and Ethereum (ETH), the new submissions included XRP, Solana (SOL), Hedera (HBAR), and meme coin-based ETFs.

Bitwise Dogecoin ETF Filing

Bitwise Asset Management has recently doubled down on the foreseen reforms in the regulatory environment within the US. Its CIO, Matt Houhan, recently confirmed the company’s filing of another ETF based on Dogecoin (DOGE).

James Seyffart, ETF Research Analyst at Bloomberg Intelligence, noted that Bitwise’s recent submission was only a Delaware trust registration. However, he believes it would eventually translate to a full-blown application with the SEC.

The company has enjoyed unprecedented success with its previous ETFs based on Bitcoin and Ether, with $2.386 billion and $348.9 million total net inflows for each, respectively, since launch up to this Wednesday’s market close.

Bitwise was notably among the pioneers of BTC and ETH ETFs in the US. It also had similar filings for XRP and Solana ETFs. It joins REX-Osprey, one of the early players in the crypto industry, in the new DOGE ETFs race.

Seyffart recently revealed that another asset management firm has jumped the gun for a Dogecoin ETF filing in Delaware. Coinshares had a pending application for the exchange-traded product (ETP) since December 2024.