American-based asset management firm Bitwise has taken a step to boost Dogecoin ($DOGE) adoption in the U.S. The company’s Chief Investment Officer Matt Hougan revealed that the billion-dollar asset manager has filed with Delaware’s Department of State’s Division of Corporations for a probable Dogecoin exchange-traded fund (ETF).
Bitwise *confirms* registration of Delaware trust in apparent preparation for Dogecoin ETF filing…
via @JasonShubnell pic.twitter.com/1RGVft2J4I
— Nate Geraci (@NateGeraci) January 23, 2025
Notably, this is not the first step towards setting up a memecoin ETF. Asset managers Rex and Osprey initially filed for $DOGE, $TRUMP, and $BONK ETFs earlier this week.
Following its induction in 2019, Dogecoin has been the most sustainable crypto memecoin. It has grown to approximately $52 billion in market capitalization and is the world’s seventh-largest cryptocurrency. Boosting the coin’s community and adoption is the support of famous American entrepreneur Elon Musk, the world’s richest man.
American DOGE Agency
Before his inauguration, the American acting President, Donald Trump, established a new temporary service organization known as the Department of Government Efficiency, with the acronym DOGE. Earlier this week, the Dogecoin logo appeared on the DOGE agency’s official website, pushing the memecoin to an 11% price surge to reach $0.4 the same day.
Following the establishment of the DOGE agency, which was led by Musk, investors’ interest in the $DOGE crypto rose. Thus, famous analysts have expressed concerns and expect applications from asset managers to establish its ETF soon.
DOGE to the Moon
Market commentators have expressed optimism about a forthcoming price pump after the ETF filings. Ali Martinez expressed via an X post that if the ETF is approved, Dogecoin could surge by over 4,000% to reach $15, thus realizing a market capitalization of $2.2 trillion.
Meanwhile, Gary Gensler’s resignation as chairman of the U.S. Securities and Exchange Commission (SEC) has paved the way for intending issuers to file for more crypto ETFs in hopes of getting approval.
