Bitwise Files for Dogecoin ETF Amid Growing Memecoin Interest
Crypto asset management firm Bitwise has submitted an official filing with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) that tracks the price of Dogecoin (DOGE), according to documents released Tuesday. The filing, known as an S-1, is a standard procedure for companies wishing to issue new securities and list them publicly.
Bitwise’s move comes as part of a broader trend of interest in memecoin-focused ETFs, with other firms such as Rex Shares and Osprey Funds also filing for similar crypto ETFs that include Dogecoin. However, Bitwise’s submission stands apart because it is made under the Securities Act of 1933, also known as the ’33 Act, as opposed to the ’40 Act used by Rex and Osprey.
The distinction is important: S-1 filings under the ’33 Act are typically used for commodity-based ETFs or more niche assets, while the ’40 Act filing provides stronger investor protection, requiring issuers to follow stricter SEC rules, such as limiting leverage and short-selling.
Bitwise has a history of issuing crypto ETFs and currently has other ETF applications in the works, including one for XRP (XRP). While the S-1 filing is a significant first step, the more pivotal filing is the 19b-4, which requests a rule change from the exchange where the fund would be listed, setting a clear deadline for SEC approval.
Once considered unlikely under former SEC chair Gary Gensler’s tenure, the possibility of memecoin ETFs now seems increasingly realistic with the new administration’s stance. President Donald Trump’s crypto-friendly policies and his own ventures into the memecoin market, with the launch of his tokens TRUMP and MELANIA, have given further momentum to the idea that memecoins may soon be a more widely accepted part of the investment landscape.
