Bitwise Asset Management has officially submitted a registration filing for a potential Dogecoin exchange-traded fund (ETF) with Delaware's Department of State's Division of Corporations.
Bitwise Asset Management has officially submitted a registration filing for a potential Dogecoin exchange-traded fund (ETF) with Delaware's Department of State's Division of Corporations. This confirmation came from the firm's Chief Investment Officer, Matt Hougan, in a statement to The Block on Wednesday.
Dogecoin (DOGE), created as a joke in 2013 by software engineers Markus and Jackson Palmer, has recently gained renewed attention.
As the seventh-largest crypto by market capitalization, it currently holds a value of approximately $54 billion. President Donald Trump’s recent establishment of the Department of Government Efficiency has further fueled interest in the digital asset.
Industry experts have long speculated that a Dogecoin ETF filing was inevitable. Nate Geraci, President of ETF Store, expressed surprise that no issuer had pursued this before, highlighting the asset's significant market position. He suggested that even if the attempt fails, it could serve as a marketing expense for the issuer.
In addition to Bitwise's filing, Osprey Funds and Rex Shares have also submitted proposals for several ETFs, including one for Dogecoin.
The timing aligns with the announcement that Hester Peirce of the U.S. Securities and Exchange Commission (SEC) will lead a newly formed crypto task force. Analysts believe this initiative could expedite the approval process for a broader range of crypto ETFs, which may include Dogecoin and other prominent crypto like SOL, XRP, LTC, and DOT.
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