American-based asset management firm and crypto exchange-traded fund (ETF) issuer Bitwise has submitted an S-1 application with the U.S. Securities and Exchange Commission (SEC) for a spot Dogecoin ($DOGE) ETF. If approved, intending investors will gain exposure to $DOGE via the listing asset manager, easing themselves of the rigorous process of managing a crypto wallet.
Prior to the official filing, Bitwise submitted necessary preparatory and registration documents in Delaware, hinting to the public on their move towards establishing an ETF for the world’s first and most sustainable memecoin.
Dogecoin ETF in Sight
BitMEX co-founder Arthur Hayes was the first to predict such a big future for the leading memecoin a few months back. In June 2024, He explained that the memecoin’s high market capitalization, long-term existence in the crypto market, and popularity could lead to its ETF filings in the present market cycle.
Remarkably, Bitwise is not the only asset manager waiting for an SEC response on its spot $DOGE ETF application. Osprey Funds and Rex Shares lead the pack, having submitted theirs a few days earlier. Both asset managers intend to launch spot $TRUMP and $BONK ETFs.
Drawing more attention to the $DOGE memecoin is the newly-established American Department of Government Efficiency, with the acronym DOGE. This agency is led by American entrepreneur Elon Musk, who has always advocated for the Dogecoin crypto.
Moreover, analysts have spoken on the positive effects of the first memecoin ETF. Famous Ali Martinez recently noted that a 4,000% surge to reach $5 and attaining over $2 trillion market capitalization is possible for $DOGE only if the U.S. SEC approves its ETF filings.
Trump Fuels ETF Frenzy
It is not without hope that asset managers submit applications for altcoin ETFs. President Trump’s administration promises to be crypto-friendly. Thus, the issuers have high expectations and eagerly await a positive reply from the U.S. financial watchdog soon.
The president’s appointment of a new pro-crypto SEC Chairman, Mark Uyeda, and the agency’s formation of a new task force solely to establish clear crypto regulations have boosted their confidence.
Meanwhile, asset managers have also filed for a spot Litecoin ETF with the American financial regulators.
