Bitwise Amends Dogecoin ETF Filing, Boosts Approval Odds to 90%

Bitwise Asset Management has made a significant move in its quest for regulatory approval of its proposed spot Dogecoin and Aptos exchange-traded funds (ETFs). The firm has submitted amended S-1 registration statements to the U.S. Securities and Exchange Commission (SEC), incorporating key structural changes based on regulatory feedback. One of the most notable additions is the inclusion of in-kind creation and redemption mechanisms for the Dogecoin ETF. This feature allows ETF shares to be exchanged directly for the underlying crypto asset, potentially improving tax efficiency and reducing market impact.

The amended filings indicate active dialogue between Bitwise and the SEC, suggesting that regulatory approval for altcoin ETFs may be closer than previously anticipated. The inclusion of in-kind mechanics aligns with features approved in previous spot crypto ETFs, reducing reliance on cash transactions and minimizing market friction. This move is a departure from Bitwise’s earlier filing in January, which lacked this mechanism. The update is seen as a strong indication of SEC feedback and brings Bitwise’s approach in line with recent trends in ETF approvals.

While the Aptos ETF has not yet received a 19b-4 filing, the New York Stock Exchange has already filed one for Dogecoin. This difference is important because the 19b-4 filing officially initiates the SEC’s review process. The latest progress has dramatically increased analyst confidence. According to analysts, the odds of a Dogecoin ETF approval have been raised to 90%, indicating that it is now a question of “when,” not “if.” This level of confidence highlights the growing maturity of crypto ETF proposals and the likelihood of regulatory progress. The final deadline for SEC approval is set for October 17, giving the commission several months to finalize its decision.

Bitwise is not the only firm pursuing a Dogecoin ETF. Other major asset managers, including Grayscale and 21Shares, have also submitted their own proposals to the SEC. With multiple firms now in the running and an ongoing, active dialogue with regulators, the path to approval appears increasingly clear. The journey towards full regulatory clarity is ongoing, but each amended filing brings the crypto market closer to a more integrated and accessible landscape. Bitwise remains the only issuer to file for an Aptos fund to date, while the SEC is currently reviewing dozens of proposals for other spot ETFs as institutional interest in altcoin-based products grows.