Bitwise Files for Dogecoin ETF: A Step Closer to Approval

Crypto asset manager Bitwise has filed for a Dogecoin ETF, reflecting growing optimism about the regulatory environment for cryptocurrencies in the U.S. The filing comes amid increasing political acceptance of digital assets, particularly following the recent launch of TRUMP, a memecoin linked to President Donald Trump.

The application, submitted to federal regulators on Tuesday, represents a crucial step in Bitwise’s ongoing effort to bring a Dogecoin ETF to market. The firm began laying the groundwork for this product last week. If approved, the ETF would offer investors a way to track Dogecoin’s price movements without holding the token directly.

At the time of writing, Dogecoin is trading at $0.32. In November 2024, the asset reached a three-year high of $0.475, coinciding with a surge in Elon Musk’s Twitter activity related to his non-governmental DOGE initiative.

DOGE Market Data: Price Chart, Market Cap, FVD, and More. Source: dropstab.com

ALT: Dogecoin market overview – The Coinomist

Bitwise submitted its Dogecoin ETF application to the SEC just days after registering a statutory trust for the fund. The trust, established through CSC Delaware Trust Company in Wilmington last week, serves as the legal foundation for the filing.

In addition to the Dogecoin ETF, Bitwise previously filed for Solana and XRP ETFs in late 2024, further expanding its range of digital asset investment products. Other issuers have followed suit, proposing funds tied to cryptocurrencies such as Official Trump, Bonk, and HBAR.

For its proposed spot Dogecoin ETF, Bitwise has selected Coinbase Custody as the custodian—a widely used service among crypto fund issuers. However, the filing does not specify key details such as fees, the ETF ticker, or the exchange where it would be listed if approved.

Exchange-traded funds (ETFs) provide investors with exposure to assets without requiring direct ownership.

In early 2024, U.S. regulators approved Bitcoin and Ethereum ETFs, leading to a significant influx of institutional capital into digital assets. According to CoinShares, crypto-based funds have already attracted over $4 billion in investments in 2025 alone.

With new leadership at the SEC under President Donald Trump, expectations are growing that additional crypto ETFs, including meme coin-based funds, could receive regulatory approval. If approved, the Dogecoin ETF would join Bitwise’s existing lineup, which includes the Bitwise Bitcoin ETF and Bitwise Ethereum ETF, both currently trading on U.S. stock exchanges.

Bitwise’s Dogecoin ETF Filing: Key Details

Filing an S-1 registration statement is a required step for companies looking to issue new securities and list them on a public stock exchange.

However, as Bloomberg Intelligence senior analyst Eric Balchunas pointed out, Bitwise’s application differs from those of Rex and Osprey, which were filed under the Investment Company Act of 1940. Instead, Bitwise submitted its application under the Securities Act of 1933.

Funds registered under the 1933 Act are typically used for commodity-based ETFs, while the 1940 Act provides stronger investor protections, including restrictions on leverage, a ban on short selling, and strict fiduciary oversight by fund issuers.

While Form S-1 is the first step toward launching an ETF, Form 19b-4 is critical, as it requests changes to the exchange’s listing rules and sets regulatory deadlines for the SEC’s review process.

Once a 19b-4 filing is submitted, the SEC has 45 days to make an initial decision: approve, reject, or extend the review period. Although the agency can grant extensions, a final ruling must be made within 240 days from the filing date.