Bitwise Files for $DOGE ETF: What It Means for Dogecoin enthusiasts and the Crypto Market
Let’s dive into what this means, how DOGE performs, and the excitement surrounding DOGE ETF.
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.
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.
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.
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MANTRABitwise Doge ETF likely coming soon.. and yes I checked and this is def legit (vs some whack job committing forgery for a quick pump a la BlackRock XRP that one time).
Good point on the Doge/Trump ETF filing, these are '40 Act filings and so (theoretically, if they aren't disapproved) could hit the market in early April (75 days after filing) and beat the XRP, Solana, Litecoin ETFs out bc those have to file 19b-4s which have a 240-day clock. Show more
Notably, these products are filed under the 1940 Act (like crypto futures ETFs). They'll hold a combo of derivatives, the assets, and a cayman subsidiary which will hold the assets. This looks similar to a playbook issuers use in the commodity ETF world to avoid K-1's but idk.
JUST IN: Bitwise files Dogecoin $DOGE ETF.
