Bitwise files Dogecoin $DOGE ETF

Bitwise plans to launch the $DOGE ETF. DOGE enthusiasts could benefit from this development.

Let’s dive into what this means, how DOGE performs, and the excitement surrounding DOGE ETF.

What’s Going On?

According to James Seyffart, an ETF expert from Bloomberg, Bitwise has established a trust in Delaware named “BITWISE DOGECOIN ETF.” This is a common setup for asset managers preparing to launch ETFs. While this doesn’t guarantee an immediate filing with the U.S. SEC, it signals that the race to create crypto ETFs is heating up—and Dogecoin is part of the action.

But Bitwise isn’t the only player in town. REX Shares filed its application to the SEC for DOGE alongside a proposed ETF featuring the Trump-themed ETF. REX Shares developed a format that implies DOGE ETFs will come to market sooner than Ripple XRP, Solana, or Litecoin ETFs. The structure serves to shorten and simplify the regulatory approval procedure.

How’s DOGE Holding Up?

Despite the ETF buzz, DOGE’s price hasn’t looked too good lately. It’s dropped about 9.7% over the past week, according to CoinMarketCap. However, on a brighter note, DOGE’s daily chart still shows an uptrend, with prices bouncing off key trendline support near $0.30.

If this support holds, DOGE could climb to $0.45. But if it breaks, $0.30 will be the critical level to watch. Trading volumes have slowed, which usually means sellers run out of steam. Plus, indicators like the Relative Strength Index (RSI) suggest some positive momentum might still be in play.

Conclusion 

Bitwise’s decision to file a $DOGE ETF shows how the crypto market reflects the growing popularity of memecoins. DOGE enthusiasts should follow both the cryptocurrency price movements and the approval developments for these ETFs because these events promise an exciting future.

Disclaimer

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