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Crypto Asset Manager Bitwise has registered a fund entity trading in exchange for DoGECOIN in Delaware, a move that could usher in future ETFs based on the world’s largest Memecoin.
Increased demand could propel Doge to astronomical heights if the ETF captures even a small fraction of the inflows seen by successful Bitcoin ETFs.
bitwise files for Doge ETF via Delaware Trust
According to a Jan. 22 filing, Bitwise registered “Bitwise Dogecoin ETF” as a statutory trust through the CSC Delaware Trust Company in Wilmington.
While these filings can often be a hoax, as the FAUIL BLACKROCK XRP ETF FILLING In 2023, Bloomberg Senior ETF Analyst Eric Balchunas confirmed that the bit deposit is indeed legit.
“Bitwise Doge ETF is probably coming soon.. and yes I checked and it’s legit”, Balchunas wrote on X.
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However, experts say the Delaware registration represents only an initial administrative step toward what could be an ETF launch. This simply means that Bitwise would still have to file a full application with the SEC before any potential DOGE product could hit the market.
The timing of Bitwise’s filing coincides with increased institutional demand for crypto exposure through regulated products amid a pivotal moment for digital asset regulation in the United States.
President Donald Trump, sworn in on January 20 as the 47th president of the United States, has promised to create a friendlier regulatory environment for digital assets.
Bitwise Registration Filing Behind Asset Managers Osprey Fund and REX Stocks submission Many proposed crypto-based exchange traded funds, one of which was a Dogecoin ETF.
Dogecoin price at $15?
Dogecoin was created in 2013 as a joke, parodying the industry with its alleged lack of utilities. The seventh-largest crypto, however, has taken on new life in recent months thanks to the creation of the Department of Government Efficiency (DOGE) in the United States, which is now led by Noted Doge Token Fan Elon Musk. In fact, the Doge agency website featured The iconic Dogecoin logo earlier this week.
Nevertheless, Doge’s price has fallen by around 20% since President Trump spear His Solana Meme Coin surprise Trump’s rise from a price of $0.4318 – the highest level seen for the original MEME coin and still the most valuable by market cap in over a month – to a current mark of 0 $.35.
But crypto analyst Ali Martinez see Doge price rises to $15 if the new Securities and Exchange Commission under Trump approves a Dogecoin Market ETF.