"Bitwise Files for Dogecoin ETF, Marking Meme Coin's Mainstream Push"

Bitwise Asset Management has taken a significant step towards bringing Dogecoin, a popular meme-based cryptocurrency, into the mainstream financial arena. The firm has filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) for a Dogecoin exchange-traded fund (ETF), marking a major milestone in the integration of meme coins into traditional finance.

The S-1 filing follows an earlier registration in Delaware, demonstrating Bitwise's commitment to launching a Dogecoin ETF. Other firms, such as Osprey Funds and Rex Shares, have also submitted proposals, indicating the growing demand for a regulated investment vehicle for Dogecoin. However, the news of the ETF filing was met with a 4% drop in Dogecoin's price, reflecting investors' uncertainty about memecoins due to unclear regulations.

Dogecoin's resurgence can be attributed to the pro-crypto stance of the Trump administration. The creation of the Department of Government Efficiency under President Trump has fueled speculation about increased crypto adoption. Last week, Trump signed an executive order forming a working group to develop a federal regulatory framework for digital assets. Additionally, the appointment of crypto-friendly Paul Atkins to lead the SEC signals potential regulatory shifts in favor of digital assets.

Dogecoin, once considered a joke, is now a serious player in the cryptocurrency market. It currently trades at around $0.32, with a market cap of $47 billion. Bitwise CIO Matt Hougan emphasized the strong demand for Dogecoin investments, noting that it is the sixth-largest cryptocurrency and sees daily trading volumes exceeding $1 billion.

Despite a slight 0.8% decline in the past 24 hours, Dogecoin remains a popular choice among retail traders. As a low-cap asset, the Dogecoin ETF could boost its credibility and drive institutional interest if approved. Crypto analyst Ali Martinez predicts that Dogecoin's price could surge to $15 if the ETF gains approval, presenting a potential buying opportunity as prices are still below $1.

The changing regulatory landscape and political support for ETFs may open the market to new heights in the coming months. Memecoins have gained attention since Trump and the First Lady launched their meme tokens, showcasing a strong interest in them. While the market is taking memes as a serious investment option,