Asset manager and crypto exchange-traded fund (ETF) issuer Bitwise Invest has officially filed an S-1 form with the US Securities and Exchange Commission (SEC) for a Dogecoin ETF.
This filing, made on Monday, follows an earlier application submitted last week in the state of Delaware, marking a pivotal moment for the crypto investment landscape.
Bitwise’s Dogecoin ETF Application Faces Market Indifference
James Seyffart, an ETF expert at Bloomberg, noted that the recent filing was anticipated following Bitwise’s prior registration of the trust. “We knew this was coming,” Seyffart remarked, highlighting the growing interest in cryptocurrency ETFs as regulatory clarity begins to emerge.
However, despite the optimism surrounding the Dogecoin ETF application, DOGE has shown little reaction, continuing to trade at approximately $0.320, reflecting losses of 3.4% over the past 24 hours and 16% over the past week.
This development occurs against a backdrop of increasing regulatory positivity in the US, coinciding with President Trump’s return to the White House for a second term after securing a win back in November.
Trump’s return to the political arena has infused a renewed sense of confidence in the regulatory environment, suggesting potential shifts that could favor cryptocurrency investments.
Asset Managers Push For Crypto ETF Approvals
The flurry of ETF filings is not limited to Bitwise; other asset managers such as CoinShares, Tuttle Capital, and Grayscale are also seeking approval for their own cryptocurrency ETFs, which include assets like Solana (SOL), Litecoin (LTC), and Cardano (ADA), alongside more speculative options such as memecoins TRUMP and MELANIA.
Seyffart already emphasized last week that this moment is crucial for issuers as they explore the limits of what the SEC will allow. The establishment of a new crypto task force, led by pro-crypto Commissioner Hester Peirce, is expected to play a vital role in shaping the regulatory framework for these products.
The outcome of this task force’s efforts will be instrumental in determining whether the SEC will grant approval for the various index funds, including Bitwise’s Dogecoin ETF.
Featured image from DALL-E, chart from TradingView.com
