Bitwise Files Application for Dogecoin ETF Launch

Bitwise Moves to Launch Dogecoin ETF as Memecoin Market Expands

Bitwise, a major player in crypto asset management, has officially filed with the U.S. Securities and Exchange Commission (SEC) to create an exchange-traded fund (ETF) based on Dogecoin (DOGE), according to a filing made public on Tuesday. The filing, an S-1 document, is a prerequisite for firms aiming to issue new securities and list them on public exchanges.

This move positions Bitwise alongside other companies like Rex Shares and Osprey Funds, which have also sought approval for crypto ETFs, including those featuring Dogecoin and other memecoins. However, Bitwise’s filing stands out because it was submitted under the ’33 Act, whereas Rex and Osprey opted for the ’40 Act, a distinction noted by Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence.

The ’33 Act is typically applied to commodity-based and niche ETFs, while the ’40 Act offers more robust investor protection, including restrictions on leverage and short-selling, as well as stricter oversight and governance rules. These added protections make the ’40 Act the preferred route for many issuers aiming to provide greater security to investors.

Bitwise is already known for its range of crypto ETFs, and the firm has other applications pending, including one for an XRP (XRP) ETF. While the S-1 filing is an important first step, the next critical filing is the 19b-4, which is needed to request a change in rules from the stock exchange to allow the listing and set a deadline for SEC review.

The prospect of memecoin ETFs—once considered an improbable investment vehicle under former SEC Chair Gary Gensler’s leadership—now appears more achievable, especially with the new administration in place. President Donald Trump’s embrace of crypto-friendly policies and his own ventures into the memecoin market, with the launch of his memecoins TRUMP and MELANIA, has helped open the door for greater acceptance of these types of financial products.