Bitwise Files for Dogecoin ETF Amidst Price Volatility

Dogecoin (DOGE) Price: ETF Filing Signals Expanding Horizon for Crypto Investments

Bitwise has taken a significant step towards bringing a Dogecoin ETF to market by submitting a 19b-4 filing to the Securities and Exchange Commission (SEC). This move comes amidst price volatility for the popular meme cryptocurrency. NYSE arca filed the 19b-4 form on behalf of bitwise, bringing the asset manager closer to offering regulated Dogecoin exposure through a traditional exchange-traded fund. If approved, the Bitwise Dogecoin ETF would operate under NYSE Arca Rule 8.201-E for Commodity-Based Trust Shares.

The proposed ETF structure includes coinbase Custody serving as the custodian for the fund’s assets, while BNY Mellon will handle cash management, administration, and record-keeping duties. This arrangement follows the standard framework established by recently approved Bitcoin ETFs. Bitwise had previously filed an S-1 registration for its Dogecoin ETF in January, making this 19b-4 submission the next required step in the regulatory process. The combination of both filings signals Bitwise’s commitment to bringing a DOGE ETF to market.

The ETF would use a cash creation and redemption model, meaning investors wouldn’t transact with actual Dogecoin. Instead, the fund’s Net Asset Value will be calculated daily using the CF Dogecoin-Dollar Settlement Price to ensure accurate market valuation.

Market sentiment regarding approval chances has improved markedly. According to prediction market Polymarket, the probability of a Dogecoin ETF receiving approval in 2025 has risen to 66%, up from 55% just one day earlier. This surge in confidence suggests growing optimism among traders about regulatory prospects.

Bitwise isn’t alone in the race for Dogecoin ETF approval. Several asset managers including Grayscale and rex Shares have submitted their own proposals. Among these contenders, Grayscale appears to be leading the pack, with the SEC already acknowledging receipt of its filing.

Despite the positive regulatory momentum, Dogecoin’s price performance has struggled recently. DOGE has fallen by 15.79% to trade around $0.19, with trading volume also declining by 11.69%. This price action indicates a disconnect