Bitwise has recently filed documents to the Delaware’s Department of State, applying for the registration of a Bitwise Dogecoin ETF.
On Jan. 22, crypto fund manager Bitwise Asset Management submitted documents to register for a Dogecoin (DOGE) exchange-traded fund. The filing can be found within the Delaware Department of State’s Division of Corporations official website. The agent registered on the form was revealed to be CSC Delaware Trust Company.
Bitwise’s application marks the start of the process towards establishing a Dogecoin ETF under the fund manager. A few hours after the news broke, the Polymarket poll betting on the odds of whether a Dogecoin ETF will get approved by the SEC in 2025 stood at nearly 50%.
In the past 24 hours of trading, Dogecoin has dipped slightly by 3.18% to a trading price of $0.35 according to data on crypto.news. In the past week, the Shiba Inu coin has gone down by nearly 7%. DOGE currently has a market cap of more than $52 billion and a 24-hour trading volume of $2.8 billion.
As previously reported by crypto.news, Dogecoin’s price movement has been showing signs of heading towards a bullish breakout amidst the ongoing crypto rally.
Is a Dogecoin ETF on the horizon?
Just two days before Bitwise’s Dogecoin ETF registration, another asset manager, REX Shares, also submitted a filing for a Dogecoin ETF to the U.S. Securities and Exchange Commission. Aside from Dogecoin, REX Shares also filed for ETFs tied to the official TRUMP meme coin, Bitcoin, Ethereum, XRP, Bonk, and Solana.
Senior ETF analyst at Bloomberg, Eric Balchunas commented on the rise of the Dogecoin ETF, calling it “surreal” in a recent post on X. He also previously predicted that a Dogecoin filing would come around the end of December.
Dogecoin has been gaining momentum these past few 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 Dogecoin’s ticker.
The new department was supposed to be led by DOGE-enthusiast Elon Musk and American politician Vivek Ramaswamy. However, on Jan. 21 Ramaswamy declared he would be stepping down from the role, leaving Musk and his team to lead the department.
