Bitwise Asset Management has officially filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) to launch a spot Dogecoin exchange-traded fund (ETF). This initiative aims to provide investors with direct exposure to Dogecoin, the eighth-largest cryptocurrency by market capitalization. If approved, it would mark the first ETF of its kind, offering a regulated avenue for investing in this popular meme coin.

Bitwise Asset Management已正式向美国证券交易委员会（SEC）提交了S-1登记，以启动现货Dogecoin交换基金（ETF）。该倡议旨在为投资者直接接触Dogecoin，这是市场资本化的第八大加密货币。如果获得批准，它将标志着此类ETF的第一个ETF，为投资这款受欢迎的模因硬币提供了监管的途径。

Bitwise's Bold Step into Meme Coin ETFs

Bitwise迈向模因硬币ETF的大胆步骤

Bitwise's filing distinguishes itself from previous attempts by other asset managers. Unlike firms like Rex Shares and Osprey Funds, who pursued filings under the '40 Act, Bitwise's application is filed under the '33 Act. This act is typically used for commodity-based ETFs, suggesting a physically backed structure.

Bitwise的申请与其他资产经理的先前尝试区分开来。与根据'40法案提起申请的雷克斯股票和鱼鹰基金这样的公司不同，Bitwise的申请是根据'33 Act提起的。该法案通常用于基于商品的ETF，表明具有物理背景的结构。

Matt Hougan, Chief Investment Officer at Bitwise, emphasized the demand for such a product: "There are a lot of people that want to invest in Dogecoin. It's the sixth-largest crypto asset in the world by market cap and it trades over $1bn a day."

Bitwise的首席投资官Matt Hougan强调了对这种产品的需求：“有很多人想投资Dogecoin。这是全球第六大加密货币资产，按市值进行，其交易超过1亿美元一天。”

Dogecoin's Market Dynamics

Dogecoin的市场动态

As of January 29, 2025, Dogecoin is trading at approximately $0.32, with a market capitalization exceeding $48 billion. The cryptocurrency has experienced significant volatility, with a 6.85% decline in the last 24 hours.

截至2025年1月29日，Dogecoin的交易约为0.32美元，市值超过480亿美元。加密货币的波动性显着，在过去24小时内下降了6.85％。

Technical analysis indicates that Dogecoin is forming a descending triangle pattern on the daily chart, which often precedes a bearish breakout. Traders closely monitor the $0.30 support level; a breach below this could lead to further declines.

技术分析表明，Dogecoin在每日图表上形成了下降的三角形模式，这通常是看跌的突破。交易者密切监视$ 0.30的支持水平；低于此的违规行为可能会导致进一步下降。

Regulatory Climate and Industry Implications

监管气候和行业影响

The filing comes at a time when the regulatory environment in the U.S. is becoming more receptive to cryptocurrency-based financial products. The recent appointment of Paul Atkins, a pro-crypto businessman and former SEC commissioner, to lead the SEC under President Trump's administration has fueled optimism about the approval of such innovative financial instruments.

该文件是在美国的监管环境变得越来越接受基于加密货币的金融产品的时候。亲克赖特托商人和前SEC专员保罗·阿特金斯（Paul Atkins）最近任命领导特朗普总统政府领导的SEC的保罗·阿特金斯（Paul Atkins）对这种创新的金融工具的批准表示乐观。

Looking Ahead

展望未来

Bitwise's move to file for a spot Dogecoin ETF represents a significant development in the intersection of traditional finance and the burgeoning world of cryptocurrencies. If approved, it could pave the way for more mainstream acceptance and investment in digital assets that originated as internet memes.

Bitwise申请索取Dogecoin ETF的举动代表了传统金融和新兴加密货币世界的交汇处的重大发展。如果获得批准，它可能为作为互联网模因的数字资产的更多主流接受和投资铺平道路。

As the SEC reviews this application, the financial industry will be watching closely, as the outcome could set a precedent for future cryptocurrency-based ETFs.

当SEC审查此应用程序时，金融行业将密切关注，因为结果可能为将来的基于加密货币的ETF树立了先例。

In conclusion, Bitwise's initiative underscores the evolving landscape of financial products and the increasing integration of cryptocurrencies into traditional investment vehicles. While the potential rewards are enticing, it's essential for investors to remain cognizant of the inherent risks associated with such speculative assets.

总而言之，Bitwise的倡议强调了金融产品的不断发展的景观以及将加密货币逐渐融入传统投资工具。尽管潜在的奖励是诱人的，但对于投资者来说，必须认识到与此类投机资产相关的固有风险。

FAQs

常见问题解答

1. What is Bitwise's Spot Dogecoin ETF?
   Bitwise has filed for a physically backed Dogecoin ETF, allowing investors to gain direct exposure to DOGE without holding the asset themselves.
2. How is Bitwise's filing different from other Dogecoin ETFs?
   Unlike previous filings under the '40 Act, Bitwise's ETF is registered under the '33 Act, meaning it follows a commodity-based structure similar to Bitcoin spot ETFs.
3. Will the SEC approve Bitwise's Spot Dogecoin ETF?
   Approval is uncertain, but the pro-crypto shift in the U.S. administration increases the chances of acceptance compared to previous regulatory climates.
4. How would a Dogecoin ETF impact the crypto market?
   If approved, it could drive institutional adoption, increase DOGE's legitimacy, and potentially boost its price due to increased demand.

Bitwise的斑点Dogecoin ETF是什么？Bitwise已向物理背景的Dogecoin ETF申请，允许投资者在不持有资产本身的情况下获得直接接触Doge。 Bitwise的ETF根据'33 Act进行了注册，这意味着它遵循类似于比特币的基于商品的结构。将批准Bitwise的dogecoin ETF？批准尚不确定，但美国政府的亲克莱普托转变会增加机会与以前的监管气候相比，接受的接受程度。狗狗ETF将如何影响加密市场？如果获得批准，它可能会推动机构采用，增加Doge的合法性，并可能由于需求增加而可能提高其价格。