Bitwise recently filed documents with the Delaware Department of State, requesting registration of a Bitwise Dogecoin ETF.
On January 22, crypto fund manager Bitwise Asset Management submitted paperwork to sign up for a Dogecoin (DOGE) exchange-traded fund. The filing can be viewed on the official website of the Corporations Division of the Delaware Department of State. The agent listed on the form turned out to be CSC Delaware Trust Company.
Bitwise’s application marks the start of the process to establish a Dogecoin ETF under the direction of the fund manager. Hours after the news broke, the Polymarket poll betting on the chances of a Dogecoin ETF being approved by the SEC in 2025 stood at almost 50%.
Over the past 24 hours of trading, Dogecoin declined marginally by 3.18% to a trading price of $0.35, according to data from crypto.news. Over the past week, the Shiba Inu coin has fallen by almost 7%. DOGE currently has a market capitalization of over $52 billion and a 24-hour trading volume of $2.8 billion.
As previously reported by crypto.news, Dogecoin price action has shown signs of an uptrend amid the ongoing crypto rally.
Is a Dogecoin ETF on the horizon?
Just two days before the registration of Bitwise’s Dogecoin ETF, another asset manager, REX Shares, also submitted a Dogecoin ETF application to the United States Securities and Exchange Commission. Besides Dogecoin, REX stocks also filed ETFs linked to the official coin TRUMP, Bitcoin, Ethereum, XRP, Bonk and Solana.
Eric Balchunas, senior ETF analyst at Bloomberg, commented on the rise of the Dogecoin ETF, calling it “surreal” in a recent article on end of December.
Dogecoin has gained momentum in recent months after President-elect Donald Trump announced the creation of the Department of Government Efficiency to streamline government operations. The acronym “DOGE” is a direct reference to the Dogecoin ticker.
The new department was supposed to be led by DOGE enthusiast Elon Musk and American politician Vivek Ramaswamy. However, on January 21, Ramaswamy said he would step down, leaving Musk and his team to run the department.
