TLDR:
- Following last week's Delaware trust registration, Bitwise is now pressing forward with an SEC application for a Dogecoin ETF.
- This ETF aims to mirror Dogecoin’s market movements, which is currently the eighth biggest cryptocurrency, valued at $0.32.
- Coin Shares reports that funds tied to digital assets have secured over $4 billion from investors in early 2025.
- Market pundits anticipate Dogecoin's price could be in for a sizable shift, with forecasts suggesting it might surpass the $2 mark.
With a solid reputation, Bitwise Asset Management is strategically heading towards launching the inaugural Dogecoin ETF on American soil. They filed with financial overseers after establishing a Delaware statutory trust last week. The ETF is designed to let investors tap into Dogecoin's market behavior without direct crypto purchases. Dogecoin holds the number eight spot by market cap, trading at $0.32.
Digital asset funds continue to captivate investor interest, pulling in more than $4 billion in just the start of 2025, as Coin Shares highlights.
The foundation for Bitwise's Dogecoin ETF was laid when they registered with the CSC Delaware Trust Company, laying down the legal bedrock for the SEC submission.
A green light from the SEC would see Dogecoin among Bitwise’s suite of crypto ETFs, which now serve other top digital currencies such as Bitcoin and Ethereum, with future plans for Solana and XRP ETFs.
The regulatory terrain for crypto investments is progressively transforming, with Bitcoin and Ethereum ETFs gaining nods in early 2024 and encouraging institutional entries into blockchain markets.
Dogecoin fever hasn't cooled, hitting a three-year high last November at $0.475, fueled by Elon Musk's social media dialogue on his dogecoin-themed push.
Typically, the SEC deliberates ETF proposals for around 45 days, though extensions can stretch this to 240 days—meaning a Dogecoin ETF decision might emerge by March 2025.
Opinions from market commentators vary.
Forecasts based on historical trends and patterns suggest Dogecoin could see price points exceeding $2. for Dogecoin’ The post-approval phase of Bitcoin and Ethereum ETFs has ushered greater institutional involvement into the crypto world, urging asset managers to consider broader digital investment avenues.
Echoing Bitwise's efforts, others have submitted ETF applications for diverse cryptos, spanning from Official Trump to Bonk, demonstrating a hunger for crypto options beyond flagship tokens.
As legacy financial firms widen their digital catalogue, Bitwise's maneuvers craft them as a significant contender in the structured crypto investment scene. and HBAR Currently, those wanting to experience Dogecoin’s value fluctuations must deal directly through exchanges or related offerings. An ETF would democratize access via conventional brokerage channels.
Bitwise's transition into the ETF application is timely, with the new SEC regime under President Trump suggesting possible easing in approvals for crypto instruments.
Blockonomi, under the editorial leadership of its founder, a staunch advocate for open-source, blockchain, and universally free internet, offers insights and news.
His contributions have reached audiences through Nasdaq, Dow Jones, and beyond. Reach out via [email protected].
