Could a Dogecoin ETF launch this month? Bitwise sparks fresh buzz.
Dogecoin, the wildest crypto out there, might soon join big investor portfolios. Bitwise submitted a fresh cash ETF request to the SEC, clearing the final paperwork barriers. Approval might arrive in just twenty days... and spark a buying frenzy for Elon Musk's top meme coin.
A suited man holds open a briefcase with a shining Dogecoin inside, facing dim SEC officials.
Quick facts
Bitwise resubmitted its Dogecoin ETF plan to the SEC. No SEC pushback means a launch in twenty days. Dogecoin rose 13% in a day after the news. Bitwise pushes hard for Dogecoin ETF Bitwise, a top crypto manager, dropped its hold-up tweak with the SEC. This clears the path for a quick start to the Bitwise Dogecoin ETF.
If the agency stays quiet for twenty days, the fund kicks off on its own. That would bring the first big-name Dogecoin ETF to market.
US investors already touched DOGE before. Back in September, Rex Shares and Osprey Funds launched the DOJE ETF. It saw over $17 million in trades right away.
Bitwise shifts things up, though. This firm, famous for its careful ways and crypto lessons, might turn Dogecoin into a standard investment choice.
Advisor Ric Edelman says Bitwise does the right thing. "Investors need options in all kinds of digital coins." He sees altcoin ETFs following Bitcoin's path. Those now hold over $150 billion in value.
Dogecoin started in 2013 as a Bitcoin spoof. It grew into a key part of online fun. A developer joke turned into a real crypto star, thanks to silly vibes, die-hard fans, and surprise backing from Elon Musk.
Dogecoin stands tall now. It sits in the top ten cryptos worldwide, with $25.4 billion in market value.
After Bitwise's filing news, its price climbed 13% to $0.18. That's still way below the 2021 peak of $0.73. But it shows fresh hunger for the top meme coin.
This fits a bigger trend: crypto ETFs booming. Bloomberg reports over 90 filings with the SEC from old-school finance and crypto groups.
The hype comes from looser rules for digital-backed funds. Plus, Bitcoin and Ethereum ETFs crushed it, with $150 billion and $20 billion in assets each.
Bottom line, Bitwise's Dogecoin ETF nears. It mixes real money with web jokes even more. This could make the gag a solid asset... and prove memes in crypto can hit billions.