Bitwise Asset Management has filed for a Dogecoin ETF with the US Securities and Exchange Commission (SEC). This application was submitted on January 28. It follows a previous attempt to register a Dogecoin ETF through a Delaware trust. This is the second Dogecoin ETF filing recently after Rex Shares applied for multiple meme coin ETFs, including Dogecoin, Bonk, and Donald Trump’s TRUMP token.
Bloomberg analyst James Seyffart mentioned on X (formerly Twitter) that this filing was anticipated. Bitwise registered the trust last week. The unique aspect of this filing is that it falls under the Securities Act of 1933. This means the ETF would hold actual Dogecoin. In contrast, funds filed under the Investment Company Act of 1940 do not require direct ownership of assets.
Eric Balchunas, a senior ETF analyst at Bloomberg, highlighted the importance of this difference. He explained that Rex Shares’ filing is under the 1940 Act, making it structurally different from Bitwise’s proposal, which is physically backed.
In the filing, Bitwise has chosen Coinbase Custody as the custodian for the Dogecoin ETF. However, important details like the proposed fee, ticker symbol, and listing exchange are not yet available in the S-1 form.
After the announcement, optimism for the approval of a Dogecoin ETF increased. On the prediction platform Polymarket, betting odds rose to 56% in favor of approval before settling at 55%.
Bitwise’s move is part of a larger trend of cryptocurrency ETF applications. The company has already launched spot Bitcoin and Ethereum ETFs.
