Bitwise Enters Memecoin ETF Race with Dogecoin Filing

Bitwise Joins Memecoin ETF Race with Dogecoin Filing

Crypto asset manager Bitwise has submitted a filing with the U.S. Securities and Exchange Commission (SEC) to launch a Dogecoin (DOGE) exchange-traded fund (ETF). The filing, an S-1 document dated January 28, signals Bitwise’s intent to offer a product that directly holds DOGE and tracks its price movements. This move follows a growing number of memecoin ETF applications in the U.S., with firms such as Osprey Funds, REX Shares, and Tuttle Capital proposing funds tied to various meme tokens, including DOGE and Official Trump (TRUMP).

Bitwise’s filing falls under the Securities Act of 1933 (33 Act), unlike some other memecoin ETF filings that were made under the Investment Company Act of 1940 (40 Act). This distinction is significant, as the 40 Act imposes stricter investor protections, including limitations on leverage and short-selling, while the 33 Act is typically used for commodity-based ETFs.

Dogecoin, initially created as a joke, has evolved into a widely recognized digital asset with a market capitalization of $47 billion, making it the eighth-largest cryptocurrency. The coin has gained traction due to social media influence and endorsements from figures such as Elon Musk. Despite growing institutional interest, Dogecoin’s price dropped 4% following the news, indicating investor caution.

The regulatory landscape for memecoin ETFs remains uncertain, especially given the SEC’s past reluctance to approve crypto-based investment products. However, changing political dynamics, including former President Donald Trump’s pro-crypto stance, have led some to speculate that regulatory approval for memecoin ETFs could become more feasible.

Top 3 Meme Coins to Invest in This Year: Low Prices, High Rewards

Among the top meme coins to invest in this year, Arctic Pablo stands out with its adventurous storyline and groundbreaking presale model. With its journey to uncover the earth’s hidden mysteries, Arctic Pablo is capturing the imagination of crypto enthusiasts worldwide. Its unique approach to presales and enormous ROI potential already set it apart.

The Theme and Vision Behind Arctic Pablo