Bitwise Files for Dogecoin ETF, Aiming to Bring Memecoin to Mainstream Investors

• Bitwise has filed an S-1 registration with the SEC for a Dogecoin ETF, aiming to offer direct exposure to DOGE.
• The fund will base its NAV on the Dogecoin-Dollar settlement benchmark provided by CF trading.
• Bloomberg analyst James Seyffart called the filing “inevitable” as memecoins gain traction in regulated markets.

Asset management firm Bitwise has made a bold move in the crypto space by filing an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for its Bitwise Dogecoin ETF. This marks another step in bringing meme coins into the world of regulated financial products.

Details of the Proposed Dogecoin ETF

Bitwise’s new fund aims to provide direct exposure to Dogecoin (DOGE), the largest memecoin in the industry. While the ETF does not yet have a defined ticker symbol or confirmed trading platform, the firm clarified that the fund will hold Dogecoin directly. Its Net Asset Value (NAV) will be based on the Dogecoin-Dollar settlement benchmark provided by CF trading.

Other specifics, such as the sponsor fee, are yet to be announced, leaving the crypto community curious about how the product will take shape.

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Recent Developments and Industry Response

This filing comes just a week after Bitwise took its first steps toward launching the DOGE ETF by registering a legal entity for the fund. That move sent Dogecoin’s price surging temporarily, further highlighting the market’s excitement about such developments.

Bloomberg Senior ETF Analyst James Seyffart commented on the filing, stating that such a move by Bitwise was “inevitable.” As the crypto industry continues to mature, more traditional financial firms are looking to memecoins like Dogecoin to attract broader investor interest.