Dogecoin ETF Registered, Fueled by Growing Interest in Elon Musk’s D.O.G.E.

Bitwise Registers Dogecoin ETF Amid Growing Memecoin Interest in Crypto Markets

Bitwise has officially filed for a Dogecoin (DOGE) exchange-traded fund (ETF), tapping into the rising demand for memecoins within the cryptocurrency space.

The “Bitwise Dogecoin ETF” filing was submitted on Wednesday and registered with the Delaware Division of Corporations. While such filings are often early-stage and may include mock-ups, Bitwise confirmed the registration in a statement to The Block.

This Delaware registration is a preliminary step before submitting a formal ETF proposal to the U.S. Securities and Exchange Commission (SEC). While it establishes the legal structure for the proposed ETF, it does not yet indicate an official request for SEC approval.

The filing comes in the wake of similar ETF applications from other investment firms like Rex Shares and Osprey Funds, which have also sought to launch crypto-based ETFs, including one focused on Dogecoin. If the SEC approves the ETF, it would bring institutional legitimacy to DOGE, potentially attracting more mainstream investors and sparking increased demand. Given the success of Bitcoin ETFs, which attracted over $50 billion in inflows over the past year, even a small fraction of that investment could significantly boost DOGE prices.

As of Thursday, Dogecoin holds a $52 billion market capitalization, making it the world’s largest memecoin. Over the past year, DOGE has seen a remarkable threefold increase in value, largely driven by speculation and its tendency to move in tandem with Bitcoin. Additionally, DOGE has garnered renewed interest following the creation of the Department of Government Efficiency (D.O.G.E.), led by Elon Musk.

The D.O.G.E. agency, which aims to cut government spending and improve federal operations, was first proposed in October and officially recognized during Donald Trump’s inauguration on Monday. On Tuesday, the agency’s website briefly displayed the Dogecoin logo before it was updated to simply show the name D.O.G.E. This connection to the memecoin has fueled further demand among traders, who may be betting that DOGE could gain from the success of the D.O.G.E. initiative.