Investing.com — Bitwise, a cryptocurrency asset manager, recently submitted an application to the Delaware Department of State: Corporations Division, seeking to register a Dogecoin-based exchange-traded fund (ETF).
a digital currency widely recognized as the first memecoin, boasts a market capitalization close to $52 billion. Memecoins have attracted increased attention of late, following the successful introduction and subsequent rise of the official Trump memecoin, launched by former President Donald Trump, which saw an increase of over 1,056%. since its launch last Friday.
Billionaire entrepreneur Elon Musk is a well-known advocate of Dogecoin. He even chose to name the new Department of Government Effectiveness (DOGE), which he oversees, after the popular memecoin.
Bitwise’s application for the Dogecoin ETF is the latest development in the growing interaction between traditional finance and cryptocurrency markets. However, it should be noted that the filing is only the first step in a potentially lengthy regulatory process and approval of a Dogecoin ETF is not guaranteed.
This article was generated with the support of AI and reviewed by an editor. For more information, consult our General Terms and Conditions.