Bitwise Submits Filing for Dogecoin ETF with SEC
Bitwise has submitted an S-1 filing to the US SEC to launch a dogecoin (DOGE) exchange-traded fund (ETF). Key points include:
- The S-1 filing is necessary for new security issuance on public exchanges.
- Other investment managers like Rex Shares and Osprey Funds have also filed for crypto ETFs, including dogecoin.
- Bitwise's filing is under the '33 Act, focusing on niche, commodity-based ETFs, unlike the 40 Act used by others which offers stronger investor protections.
- Bitwise has multiple pending ETF applications, including one for XRP.
- The next important step for Bitwise is submitting a 19b-4 filing, which initiates a rule change at the stock exchange.
- The current regulatory environment may favor the approval of memecoin ETFs following changes in leadership.