Bitwise files Dogecoin ETF registration, firm confirms

Dogecoin: A Rising Cryptocurrency with Potential

Dogecoin has emerged as the seventh-largest cryptocurrency by market capitalization, boasting a value of approximately $54 billion.

Bitwise Asset Management, a crypto index fund manager, has filed for a potential Dogecoin exchange-traded fund (ETF) with the Delaware Department of State's Division of Corporations. Chief Investment Officer Matt Hougan confirmed the filing to The Block.

Dogecoin, often referred to as the first "memecoin," was initially created as a humorous venture in 2013 by software engineers Markus and Jackson Palmer. However, it has recently gained renewed attention due to the establishment of the Department of Government Efficiency under former President Donald Trump.

Industry experts anticipated the eventual filing for a Dogecoin ETF. Nate Gercai, President of ETF Store, commented that "it was shocking that no issuer had yet filed for a Dogecoin ETF."

Osprey Funds and Rex Shares have also submitted proposals for a DOGE ETF.

The recent appointment of Hester Peirce to lead the U.S. Securities and Exchange Commission's crypto task force has raised optimism for the approval of a wider range of crypto ETFs, including DOGE.

Crypto Research Strategist Matt Mena of 21Shares stated, "The crypto task force, led by Commissioner Peirce, may expedite the approval of various crypto ETFs, including SOL, XRP, LTC, DOT, and DOGE."