Key takeaways
- Bitwise Asset Management is preparing a Dogecoin ETF application, reflecting the growing interest in crypto ETFs under favorable conditions.
- Trump’s pro-crypto administration and regulatory shift have sparked a wave of ETF applications, with analysts predicting more approvals to come.
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Bitwise Asset Management is preparing to submit a Dogecoin ETF application to the SEC, with the company’s Delaware registration indicating an imminent filing.
On the news, Dogecoin price jumped 4% to $0.373 before stabilizing at $0.36.
The move comes at a pivotal time for crypto regulation in the United States.
President Donald Trump, sworn in as the 47th president on Monday, has promised a pro-crypto administration with a more favorable regulatory environment.
The appointment of Mark Uyeda as acting SEC chairman underscores the administration’s commitment to reshaping crypto regulation.
Just yesterday he announced the creation of a new crypto task force, led by Commissioner Hester Peirce, tasked with establishing a clear framework for digital assets.
Experts like ETF Shop President Nate Geraci believe this change will spark a wave of ETF filings and potential approvals, with Geraci saying last year:
“I think everything is on the table moving forward with the new administration.”
ETF analyst Eric Balchunas, speaking to The Block in November last year, commented on Dogecoin ETFs:
“Today’s satire is tomorrow’s ETF.” You might ask, “Is DOGE a bridge too far?” and I would say we’ll see. I think someone will try it, why not?
Adding to the excitement around a potential Dogecoin ETF, Osprey Funds yesterday filed for several ETFs, including Dogecoin, Trump token, Solana, Ethereum, Bitcoin, XRP and Bonk.
The Trump meme, launched less than a week ago, highlights surprising developments under the new administration.
With such unconventional applications emerging within days of Trump taking office, optimism is growing that crypto products previously considered far-fetched could be approved.
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