Bitwise Files for Dogecoin ETF
Bitwise has submitted an application to the US Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) that tracks the price of Dogecoin (DOGE).
As per Bitwise's January 28th S-1 filing with the SEC, the proposed Bitwise Dogecoin ETF will hold DOGE and closely follow its price fluctuations.
Bloomberg ETF analyst James Seyffart observed on X that Bitwise filed to register a Dogecoin trust in Delaware on January 22nd. However, he clarified that this latest filing makes it official with the SEC.
Source: SEC
To initiate the approval or denial process for the Dogecoin ETF, Bitwise's S-1 filing must be accompanied by a 19b-4 filing.
Launched in 2015, DOGE has amassed a market cap of $47 billion, ranking it as the eighth-largest cryptocurrency.
Bitwise designated Coinbase Custody as the proposed custodian for the spot Dogecoin ETF, a frequent choice among issuers offering crypto exchange-traded products.
This Dogecoin filing highlights Bitwise's ongoing efforts to expand its offerings beyond the spot Bitcoin (BTC) and Ether (ETH) ETFs it currently provides.
Recently, the company also filed for a spot Solana (SOL) ETF and an XRP (XRP) ETF.
In November, Bitwise submitted a filing to list a Bitwise 10 Crypto Index Fund on NYSE Arca, which would track the ten largest cryptocurrencies by market cap, including Cardano (ADA), Uniswap (UNI), and Polkadot (DOT).
Over the past hour, Dogecoin has dropped 1.2%, with a 3.3% decrease over the past 24 hours, mirroring a broader decline in the cryptocurrency market.