Bitwise Files for Dogecoin ETF Registration

Crypto fund manager Bitwise Asset Management has submitted documents to the Delaware Department of State’s Division of Corporations to register for a Dogecoin exchange-traded fund (ETF). The filing, which can be found on the official website of the Delaware Department of State, marks the beginning of the process towards establishing a Dogecoin ETF under Bitwise.

Market Reaction and Approval Odds

Following the news, the price of Dogecoin dipped slightly by 3.18% to a trading price of $0.35, with a market cap of over $52 billion and a 24-hour trading volume of $2.8 billion. A Polymarket poll betting on the odds of a Dogecoin ETF getting approved by the SEC in 2025 stood at nearly 50% just hours after the announcement.

Bitwise and REX Shares’ ETF Filings

This development comes after another asset manager, REX Shares, submitted a filing for a Dogecoin ETF to the U.S. Securities and Exchange Commission just two days prior to Bitwise’s registration. REX Shares also filed for ETFs tied to Bitcoin, Ethereum, XRP, Bonk, and Solana.

Expert Insights and Market Trends

Senior ETF analyst at Bloomberg, Eric Balchunas, commented on the rise of the Dogecoin ETF, calling it “surreal” in a recent post. Balchunas previously predicted that a Dogecoin filing would come around the end of December.

“The launch of a Dogecoin ETF would be a significant development in the cryptocurrency market, potentially leading to increased adoption and mainstream recognition of the asset.”

Tips for Investors

As the cryptocurrency market continues to evolve, investors should keep the following points in mind:

  • Stay informed about market trends and developments, such as ETF filings and regulatory updates.
  • Monitor the performance of Dogecoin and other cryptocurrencies, considering factors like market cap and trading volume.
  • Consider the potential impact of a Dogecoin ETF on the market, including increased adoption and mainstream recognition.

For more news and updates on the cryptocurrency market, visit Global Crypto News.

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