Bitwise files for Dogecoin ETF at the SEC as meme coin interest grows

Crypto Asset Manager Bitwise Files for Dogecoin ETF

New York, USA - Bitwise Asset Management has filed an S-1 prospectus with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tied to the price of dogecoin (DOGE).

The proposed Bitwise Dogecoin ETF would invest primarily in dogecoin and closely track the cryptocurrency's price movements. According to Bloomberg ETF analyst James Seyffart, Bitwise filed to register a Dogecoin trust in Delaware on January 22nd.

Bitwise's ETF application differentiates itself from those filed by Rex Shares and Osprey Funds. The former filed under the '33 Act, typically used for niche, commodity-based ETFs, while the latter employed the '40 Act, providing stronger investor protection.

The filing lists Coinbase Custody as the proposed custodian for the spot Dogecoin ETF. Bitwise did not disclose the proposed fee, ticker, or intended stock exchange for the ETF.

This filing marks Bitwise's latest effort to expand its crypto asset ETF offerings, which currently include spot Bitcoin (BTC) and Ether (ETH) ETFs. Notably, Bitwise has also filed to list spot Solana (SOL) and XRP (XRP) ETFs.

The S-1 filing is an initial step in the ETF launch process, with the more significant 19b-4 filing pending. The 19b-4 signifies a requisite rule change at the stock exchange intending to list the ETF and ties the SEC to a strict deadline.

Despite the SEC's previous resistance to spot bitcoin ETFs under Gary Gensler's leadership, the approval of meme coin ETFs appears more likely following the inauguration of President Donald Trump. Trump has expressed support for crypto-friendly policies and even launched his own meme coins, TRUMP and MELANIA.