Key takeaways
- Bitwise Asset Management is preparing a Dogecoin ETF application, reflecting the growing interest in crypto ETFs under favorable conditions.
- Trump’s pro-crypto administration and regulatory shift have sparked a wave of ETF applications, with analysts predicting more approvals to come.
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Bitwise Asset Management prepares to submit a Dogecoin ETF application to the SEC, with Delaware Business Registration indicating an imminent deposit.
On the news, Dogecoin price jumped 4% to $0.373 before stabilizing at $0.36.
The move comes at a pivotal time for crypto regulation in the United States.
President Donald Trump, sworn in as the 47th president on Monday, has promised a pro-crypto administration with a more favorable regulatory environment.
The appointment of Mark Uyeda as acting SEC chairman underscores the administration’s commitment to reshaping crypto regulation.
Just yesterday he announcement a new crypto task force, led by Commissioner Hester Peirce, tasked with establishing a clear framework for digital assets.
Experts like ETF Shop President Nate Geraci believe this change will spark a wave of ETF filings and potential approvals, with Geraci saying last year:
“I think everything is on the table moving forward with the new administration.”
ETF analyst Eric Balchunas, speaking to The Block in November last year, commented on Dogecoin ETFs,
“Today’s satire is tomorrow’s ETF.” You might ask, “Is DOGE a bridge too far?” and I would say we’ll see. I think someone will try it, why not?
Adding to the excitement around a potential Dogecoin ETF, Osprey Funds filed yesterday for several ETFs, including Dogecoin, Trump token, Solana, Ethereum, Bitcoin, XRP and Bonk.
The Trump meme, launched less than a week ago, highlights surprising developments under the new administration.
With such unconventional applications emerging within days of Trump taking office, optimism is growing that crypto products previously considered far-fetched could be approved.
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