Bitwise has officially filed an S-1 registration with the US Securities and Exchange Commission (SEC) to launch a spot Dogecoin ETF. This move positions the asset manager as the first to pursue a ’33 Act Dogecoin filing, differing from similar filings by Rex Shares and Osprey Funds.
If approved, the ETF would allow investors to gain direct exposure to Dogecoin’s market price. At the time of writing, it is valued at $0.33, according to Coinmarketcap.
Bitwise submitted the filing on Tuesday, following a prior registration in Delaware on January 22. Bloomberg ETF analyst James Seyffart commented on the timing:
“We knew this was coming because they filed to register the trust last week, but this makes it official with the SEC,”
he noted.
Matt Hougan, Bitwise’s chief investment officer, addressed the growing interest in memecoin ETFs, saying:
“We’ve seen numerous filings from different issuers, and that trend will likely continue. Dogecoin is the sixth-largest cryptocurrency globally, with over $1 billion in daily trading volume. There’s significant demand for investments in Dogecoin.”
Bitwise, which already manages a $4.5 billion Bitcoin ETF (BITB), is betting on increasing interest in memecoins under a more crypto-friendly regulatory climate.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
