Bitwise, a crypto index fund supervisor, has filed an S-1 doc with the Securities and Alternate Fee (SEC) searching for approval to launch an exchange-traded fund (ETF) tied to the worth of Dogecoin (DOGE).
The submitting with the securities regulator got here a couple of week after Bitwise registered a Dogecoin ETF belief within the state of Delaware.
Is a DOGE ETF Imminent?
The SEC should approve two kinds, S-1 and 19b-4, for itemizing and buying and selling ETFs on public exchanges. The S-1 kinds are submitted by the issuer with product particulars, whereas the 19b-4 kinds, submitted by the itemizing trade, define situations and amend itemizing guidelines for a brand new product.
Bitwise is just not the primary firm to hunt approval for a Dogecoin ETF. Earlier, Rex Shares and Osprey Funds sought regulatory approval for a number of crypto ETFs, together with Dogecoin. Nevertheless, the 2 companies’ S-1 filings for a Dogecoin ETF differ.
Bitwise is searching for a DOGE ETF beneath the 33 Act somewhat than the 40 Act, which Rex and Osprey filed beneath, Bloomberg Intelligence senior ETF analyst Eric Balchunas identified.
That is the primary ‘33 Act (a la $IBIT) doge submitting. Rex has on e filed beneath 40 Act however that isn’t the identical true blue bodily backed construction
— Eric Balchunas (@EricBalchunas) January 28, 2025
S-1 filings beneath the 33 Act are usually used for specialised, commodity-based ETFs, whereas the 40 Act presents stronger investor safety by imposing extra SEC necessities. For instance, the 40 Act restricts leverage and short-selling and enforces stricter fiduciary oversight and governance.
The Altering Crypto Panorama within the US
Crypto firms have been attempting to record ETFs on public exchanges for years. The floodgates opened after the SEC first authorized the itemizing and buying and selling of 11 Bitcoin ETFs concurrently on US exchanges in January 2024. Later, the Ethereum ETF additionally acquired approval.
Bitwise is already one of many issuers of Bitcoin and Ethereum ETFs. Along with Dogecoin, the asset supervisor has filed for approval for XRP and Solana ETFs.
Curiously, former SEC Chair Gary Gensler was vital of cryptocurrencies. Nevertheless, after Donald Trump grew to become President, crypto-friendly Mark Uyeda was appointed Performing SEC Chair till the nomination of Paul Atkins receives Senate approval. Now, it stays to be seen how the brand new SEC management will strategy crypto.
President Trump additionally lately appointed a working group to discover potential cryptocurrency insurance policies within the US.
Bitwise, a crypto index fund supervisor, has filed an S-1 doc with the Securities and Alternate Fee (SEC) searching for approval to launch an exchange-traded fund (ETF) tied to the worth of Dogecoin (DOGE).
The submitting with the securities regulator got here a couple of week after Bitwise registered a Dogecoin ETF belief within the state of Delaware.
Is a DOGE ETF Imminent?
The SEC should approve two kinds, S-1 and 19b-4, for itemizing and buying and selling ETFs on public exchanges. The S-1 kinds are submitted by the issuer with product particulars, whereas the 19b-4 kinds, submitted by the itemizing trade, define situations and amend itemizing guidelines for a brand new product.
Bitwise is just not the primary firm to hunt approval for a Dogecoin ETF. Earlier, Rex Shares and Osprey Funds sought regulatory approval for a number of crypto ETFs, together with Dogecoin. Nevertheless, the 2 companies’ S-1 filings for a Dogecoin ETF differ.
Bitwise is searching for a DOGE ETF beneath the 33 Act somewhat than the 40 Act, which Rex and Osprey filed beneath, Bloomberg Intelligence senior ETF analyst Eric Balchunas identified.
That is the primary ‘33 Act (a la $IBIT) doge submitting. Rex has on e filed beneath 40 Act however that isn’t the identical true blue bodily backed construction
— Eric Balchunas (@EricBalchunas) January 28, 2025
S-1 filings beneath the 33 Act are usually used for specialised, commodity-based ETFs, whereas the 40 Act presents stronger investor safety by imposing extra SEC necessities. For instance, the 40 Act restricts leverage and short-selling and enforces stricter fiduciary oversight and governance.
The Altering Crypto Panorama within the US
Crypto firms have been attempting to record ETFs on public exchanges for years. The floodgates opened after the SEC first authorized the itemizing and buying and selling of 11 Bitcoin ETFs concurrently on US exchanges in January 2024. Later, the Ethereum ETF additionally acquired approval.
Bitwise is already one of many issuers of Bitcoin and Ethereum ETFs. Along with Dogecoin, the asset supervisor has filed for approval for XRP and Solana ETFs.
Curiously, former SEC Chair Gary Gensler was vital of cryptocurrencies. Nevertheless, after Donald Trump grew to become President, crypto-friendly Mark Uyeda was appointed Performing SEC Chair till the nomination of Paul Atkins receives Senate approval. Now, it stays to be seen how the brand new SEC management will strategy crypto.
President Trump additionally lately appointed a working group to discover potential cryptocurrency insurance policies within the US.
