Bitwise prepares to create a Dogecoin ETF
Bitwise files for Dogecoin ETF amid rising demand for crypto funds.
Bitwise Asset Management, a prominent crypto investment firm managing over $10 billion in assets, has filed paperwork to establish a Delaware statutory trust for a Dogecoin exchange-traded fund (ETF), according to Bloomberg ETF analyst Eric Balchunas.
The filing marks a significant move as demand for diverse crypto ETFs surges, reports BitcoinNews.
Bitwise, known for its spot Bitcoin and Ethereum ETFs, is among a growing number of firms capitalizing on the changing regulatory landscape. Optimism surrounding crypto ETFs has intensified with the appointment of Donald Trump as U.S. President and his nomination of crypto-friendly Paul Atkins as the new Chairman of the Securities and Exchange Commission (SEC).
Surge in Crypto ETF Proposals
Bitwise is not alone in the race to bring crypto ETFs to market. Rex Shares, along with its crypto-focused sister company Osprey Funds, has submitted filings for seven additional crypto ETFs. These include funds dedicated to Dogecoin (DOGE), Bonk (BONK), and even President Trump’s recently launched memecoin, TRUMP.
The recent filings reflect growing confidence in regulatory approval under the Trump administration, which has emphasized its commitment to fostering a crypto-friendly environment. President Trump’s public endorsement of cryptocurrency and the introduction of his own memecoin have added momentum to this trend.
A Broader Shift in the Crypto Landscape
The wave of ETF filings is seen as a pivotal moment for the cryptocurrency industry. ETFs offer mainstream investors an accessible way to gain exposure to digital assets without needing to directly purchase or store them. As the SEC begins to assess these applications, market participants are hopeful that broader approval could lead to significant institutional and retail investment in cryptocurrencies.
The potential approval of ETFs for Dogecoin and other alternative tokens could diversify the market further, bringing niche assets into the financial mainstream. Bitwise’s application underscores this growing appetite for innovation within the crypto investment space.
As regulatory clarity improves and market interest surges, the coming months could prove transformative for crypto ETFs, with Bitwise and other firms leading the charge in expanding investment opportunities.
Recently we wrote, that Grayscale Investments and CoinShares have filed multiple proposals for exchange-traded funds (ETFs) tracking cryptocurrencies like XRP, Litecoin, and Solana.
