Bitwise Files for Dogecoin ETF
The U.S. Securities and Exchange Commission (SEC) is reviewing a Dogecoin (DOGE) exchange-traded fund (ETF) filed by Bitwise. The application seeks to list the ETF on NYSE Arca, with Coinbase Custody managing the fund’s DOGE holdings and Bank of New York Mellon handling cash assets and administration.
The ETF’s Net Asset Value (NAV) will be calculated daily using the CF Dogecoin-Dollar Settlement Price, ensuring that the fund closely tracks DOGE’s market value.
Competing ETF Filings and Market Sentiment
Bitwise isn’t alone in seeking regulatory approval for a Dogecoin ETF. Grayscale and Rex Shares have also filed applications, with Grayscale’s proposal already acknowledged by the SEC, positioning it as a frontrunner in the race.
Investor sentiment around Dogecoin ETFs has improved significantly:
- Polymarket raised DOGE ETF approval odds to 67% (up from 55%).
- Bloomberg analysts forecast a 75% chance of ETF approval by 2025.
DOGE Price Volatility Amid Optimism
Despite growing optimism, DOGE’s price has fallen 16% in recent days, with trading volume down 17%, reflecting broader crypto market volatility.
If approved, a Dogecoin ETF could open the door for meme coin investments in traditional markets, further legitimizing DOGE’s position as a serious financial asset.
