2025-1-24 18:40 |
Crypto asset manager Bitwise has registered a Dogecoin exchange-traded fund entity in Delaware, a move that could usher in future ETFs based on the world’s largest memecoin.
Heightened demand could propel DOGE to astronomical heights if the ETF captures even a small fraction of the inflows witnessed by the successful spot Bitcoin ETFs.
Bitwise Files For DOGE ETF Via Delaware TrustAccording to a Jan. 22 filing, Bitwise registered “Bitwise DOGECOIN ETF” as a statutory trust through the CSC Delaware Trust Company in Wilmington.
While such filings may often be a hoax, like the fake BlackRock XRP ETF filing in 2023, Bloomberg’s senior ETF analyst Eric Balchunas has confirmed that the Bitwise filing is indeed legit.
“Bitwise Doge ETF likely coming soon.. and yes I checked and this is def legit,” Balchunas wrote on X.
https://twitter.com/EricBalchunas/status/1882202309293433217However, experts say the Delaware registration only represents an initial administrative step toward what could be an ETF launch. This simply means that Bitwise would still need to file a comprehensive application with the SEC before any potential DOGE product could come to market.
The timing of Bitwise’s filing coincides with an increased institutional demand for crypto exposure through regulated products amid a pivotal moment for digital asset regulation in the US.
President Donald Trump, sworn in on Jan. 20 as the 47th President of the United States, has promised to create a more crypto-friendly regulatory environment for digital assets.
Bitwise’s registration filing comes on the back of asset managers Osprey Funds and REX Shares submitting numerous proposals for crypto-based exchange-traded funds, one of which was a Dogecoin ETF.
Dogecoin Price To $15?Dogecoin was created in 2013 as a joke, parodying the industry with its presumed lack of utility. The seventh-largest crypto has, however, taken on new life in recent months thanks to the creation of the Department of Government Efficiency (D.O.G.E.) in the US, which is now led by noted DOGE token fan Elon Musk. In fact, the DOGE agency website briefly featured the iconic Dogecoin logo earlier this week.
Nevertheless, the price of DOGE has declined by around 20% since President Trump launched his surprise Solana meme coin, TRUMP, falling from a price of $0.4318 — the highest level seen for the original and still most valuable meme coin by market cap in more than a month — to a current mark of $0.35.
But crypto analyst Ali Martinez sees the DOGE price soaring to a staggering $15 if the new Securities and Exchange Commission under Trump approves a spot market Dogecoin ETF.
origin »EthereumFog (ETF) на Currencies.ru
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