Bitwise Files for Spot Dogecoin (DOGE) ETF

Crypto asset management firm Bitwise has officially filed for a spot Dogecoin (DOGE) exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC).

This move marks a significant milestone for memecoins, signaling growing institutional interest in Dogecoin as a legitimate investment asset.

Key Takeaways

Bitwise Proposes First-Ever Spot Dogecoin ETF: The crypto giant has submitted an application to the SEC, aiming to bring DOGE into the ETF market.
Memecoins as Cultural Assets: Bitwise’s CIO Matt Hougan describes memecoins as “totemic artifacts of crypto culture, similar to collectibles like baseball cards or fine art.”
DOGE’s Market Standing: Dogecoin remains the sixth-largest cryptocurrency by market cap, trading over $1 billion daily.
Regulatory Outlook: With SEC Chair Gary Gensler stepping down, the industry sees a greater chance for ETF approvals under the incoming crypto-friendly leadership of Paul Atkins.
DOGE Price Update: The token is trading at $0.32, up 1.1% in the last 24 hours.

Bitwise’s Case for a Dogecoin ETF

Speaking to the Financial Times, Bitwise CIO Matt Hougan emphasized the cultural and financial significance of memecoins:

“Memecoins are more than just assets; they’re cultural artifacts that symbolize digital affiliation. Their importance in crypto culture is undeniable.”

Hougan also pointed to strong market demand, stating:

“Dogecoin is the sixth-largest cryptocurrency by market cap, trading over $1 billion daily. Investors clearly want access to it.”

With the success of Bitcoin and Ethereum spot ETFs, Bitwise is betting on DOGE as the next logical step in crypto ETF expansion.

Will the SEC Approve a Dogecoin ETF?

The SEC approved Bitcoin (BTC) and Ethereum (ETH) ETFs last year, but only after lengthy delays. Now, crypto insiders believe the approval process could accelerate under new leadership:

✔ Former SEC Chair Gary Gensler, known for his anti-crypto stance, has stepped down.
✔ President Trump has nominated Paul Atkins, a crypto-friendly advocate, to head the SEC.
✔ With institutional crypto adoption rising, analysts expect broader ETF approvals in 2025.

If the SEC approves Bitwise’s application, it would mark the first-ever spot Dogecoin ETF, bringing mainstream investment access to the popular memecoin.

What’s Next for DOGE?

If approved, a spot Dogecoin ETF could have several major effects on the market:

🚀 Increased Institutional Investment: More traditional investors would gain access to DOGE via regulated financial products.
📈 Price Growth Potential: Approval could spark a new rally, similar to what happened with Bitcoin and Ethereum ETFs.
⚖️ Regulatory Legitimacy: The move could legitimize memecoins as an investment class, leading to further ETF proposals for assets like Shiba Inu (SHIB).

For now, all eyes are on the SEC as it reviews Bitwise’s application. If approved, the crypto market could see another major wave of ETF-driven adoption.