Bitwise Files for Dogecoin ETF Amid Rising Approval Odds
The Most Important Points at a Glance
Bitwise has taken an important step toward launching a Dogecoin ETF. The U.S. stock exchange NYSE Arca has submitted a 19b-4 filing to the U.S. Securities and Exchange Commission (SEC). If the ETF is approved, Coinbase Custody will act as the custodian, while BNY Mellon will handle cash management and administration.
Bitwise Submits Application for Dogecoin ETF
The latest filing follows Bitwise’s previous S-1 registration. This highlights the growing institutional interest in Dogecoin and its potential integration into regulated financial products.
According to the application, NYSE Arca plans to list and trade shares of the Bitwise Dogecoin ETF under Rule 8.201-E for commodity-based trust shares. The ETF aims to provide investors with a regulated way to invest in Dogecoin without directly holding the cryptocurrency.
How Does the Proposed Dogecoin ETF Work?
The ETF is based on a cash creation and redemption model. This means that investors do not buy or sell Dogecoin directly but participate in its price movements through the ETF. The fund’s net asset value (NAV) will be calculated daily based on the CF Dogecoin-Dollar Settlement Price to ensure fair market valuation.
If the SEC approves the application, the Bitwise Dogecoin ETF would be one of the first exchange-traded memecoin ETFs in the U.S. This could provide institutional and retail investors with a secure and regulated way to access Dogecoin.
Competition for the First Dogecoin ETF Approval
Bitwise is not the only provider planning a Dogecoin ETF. Grayscale and Rex Shares have also submitted applications. Grayscale currently appears to be in a better position, as the SEC has already accepted its application for review.
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The likelihood of a Dogecoin ETF approval in 2025 has risen to 66%, according to Polymarket—an increase from 55% the previous day. Despite this positive development, Dogecoin’s price has recently fallen by 15.79% to $0.19. Trading volume also declined by 11.69%, indicating weaker market activity despite growing ETF expectations.
Outlook for More Altcoin ETFs
Beyond Dogecoin, there are efforts to introduce additional altcoin ETFs. Candidates include Cardano (ADA), Solana (SOL), Polkadot (DOT), Litecoin (LTC), and XRP. This suggests that the SEC, under its new leadership, may be taking a more open stance toward cryptocurrency ETFs.
Which of these cryptocurrencies will receive ETF approval first remains to be seen.
Our Assessment
Bitwise’s submission of the 19b-4 application is a significant step toward a Dogecoin ETF. The increasing likelihood of approval reflects growing institutional interest in memecoins. However, it remains to be seen whether the SEC will actually give the green light.
The development of altcoin ETFs could stabilize the crypto market in the long term and attract new investors. However, investors should keep in mind that ETF approval does not automatically lead to price increases. Market reactions to such news can vary.
| Symbol | DOGE |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $0.15 |
| 24h % | -3.84 % |
| 7d % | 4.51 % |
| 30d % | -10.54 % |
| 60d % | -45.16 % |
| 1y % | -1.08 % |
| Market Cap | $22,753,926,904.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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