Bitwise Prepares for Potential Dogecoin ETF with Delaware Registration

Bitwise Progresses Towards Dogecoin ETF with Delaware Registration

Bitwise Asset Management has taken a substantial step towards the potential launch of a Dogecoin ETF by registering "BITWISE DOGECOIN ETF" as a statutory trust in Delaware. This registration signifies the company's intentions to establish an exchange-traded fund (ETF) based on the popular meme cryptocurrency, Dogecoin.

According to an SEC filing, the registration was completed through CSC Delaware Trust Company in Wilmington. While Bitwise actively pursues the development of the ETF, specific details remain confidential. However, industry observers caution that the Delaware registration is merely an initial administrative step.

"This is just a registration for a trust," said Bloomberg Senior Analyst James Seyffart. "Assuming it's real, it's still not an official ETF filing with the SEC."

Statutory trusts in Delaware provide legal frameworks for companies like Bitwise to create investment products such as ETFs. These trusts offer tax advantages, governance structures, and the separation of ETF assets from other company activities.

Despite the registration, Bitwise must still submit a formal application to the SEC before launching any Dogecoin ETF. The asset management firm has a proven track record as a leader in institutional crypto adoption, managing over $12 billion in crypto assets.

Bitwise has previously expressed interest in expanding its ETF offerings beyond major cryptocurrencies, such as Bitcoin and Ethereum. The company has also filed for a Solana ETF.

The Delaware registration aligns with observations of similar preparatory moves preceding previous crypto ETF applications. Asset managers often establish business entities in advance of formal SEC filings.

The development also coincides with the growing institutional interest in regulated crypto products. Multiple asset managers have recently applied for various crypto ETFs. Notably, VanEck filed for an "onchain economy" ETF in January, while the SEC approved "protected" Bitcoin ETFs for trading this week.