A New Step for Dogecoin ETF?



Bitwise Asset Management, one of the largest cryptocurrency asset managers in the world, has just registered a legal entity named 'BITWISE DOGECOIN ETF' in Delaware, USA. This is seen as the first move towards launching an exchange-traded fund (ETF) specifically for Dogecoin, the famous meme coin.



Registration Details


• Legal entity: #Bitwise has registered through CSC Delaware Trust Company, allowing the company to build investment products such as ETFs.


• Not yet an official ETF: This registration is just an initial administrative step, not yet a complete filing submitted to the U.S. Securities and Exchange Commission (SEC). According to expert James Seyffart from Bloomberg, this is still the 'preparation phase.'



Reasons Bitwise is Interested in Dogecoin



Bitwise currently manages over $12 billion in cryptocurrency assets and is working to expand its ETF product portfolio beyond $BTC and $ETH . After succeeding with Bitcoin and Ethereum ETFs, the company filed for a Solana ETF in November 2024 and may now turn its attention to Dogecoin to capitalize on the growing interest of institutions in cryptocurrencies.



What Does Dogecoin ETF Mean?


• Easier investment access: The Dogecoin ETF will allow investors to access Dogecoin through regulated financial products without needing to directly own the coin.


• Attractive to institutions: As cryptocurrency #ETFs become increasingly popular, the launch of a Dogecoin ETF may attract additional capital flows from large investors.



A Promising Market



This registration comes at a time when demand from institutions for cryptocurrencies through regulated products is increasing. Some recent moves in the industry:


• VanEck: Filed for the 'on-chain economy' ETF on January 15, 2025.


• Bitcoin ETF protected: Approved by the SEC for trading.



Conclusion



Although this is just the initial step, Bitwise's registration of the Dogecoin ETF entity is a positive sign for the development of cryptocurrency investment products. If successful, the Dogecoin ETF could become an attractive product, expanding access to Dogecoin for global investors.



Warning: Investing in cryptocurrencies always carries risks. Please research carefully before making decisions.#anhbacong