Bitwise, a crypto index fund supervisor, has filed an S-1 doc with the Securities and Change Fee (SEC) in search of approval to launch an exchange-traded fund (ETF) tied to the worth of Dogecoin (DOGE).
The submitting with the securities regulator got here a few week after Bitwise registered a Dogecoin ETF belief within the state of Delaware.
Is a DOGE ETF Imminent?
The SEC should approve two varieties, S-1 and 19b-4, for itemizing and buying and selling ETFs on public exchanges. The S-1 varieties are submitted by the issuer with product particulars, whereas the 19b-4 varieties, submitted by the itemizing alternate, define circumstances and amend itemizing guidelines for a brand new product.
Bitwise just isn’t 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. Nonetheless, the 2 corporations’ S-1 filings for a Dogecoin ETF differ.
Bitwise is in search of a DOGE ETF below the 33 Act reasonably than the 40 Act, which Rex and Osprey filed below, Bloomberg Intelligence senior ETF analyst Eric Balchunas identified.
That is the primary ‘33 Act (a la $IBIT) doge submitting. Rex has on e filed below 40 Act however that isn’t the identical true blue bodily backed construction
— Eric Balchunas (@EricBalchunas) January 28, 2025
S-1 filings below 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 corporations have been making an attempt to record ETFs on public exchanges for years. The floodgates opened after the SEC first permitted 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.
Apparently, former SEC Chair Gary Gensler was crucial of cryptocurrencies. Nonetheless, after Donald Trump turned President, crypto-friendly Mark Uyeda was appointed Appearing SEC Chair till the nomination of Paul Atkins receives Senate approval. Now, it stays to be seen how the brand new SEC management will method crypto.
President Trump additionally not too long ago 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 Change Fee (SEC) in search of approval to launch an exchange-traded fund (ETF) tied to the worth of Dogecoin (DOGE).
The submitting with the securities regulator got here a few week after Bitwise registered a Dogecoin ETF belief within the state of Delaware.
Is a DOGE ETF Imminent?
The SEC should approve two varieties, S-1 and 19b-4, for itemizing and buying and selling ETFs on public exchanges. The S-1 varieties are submitted by the issuer with product particulars, whereas the 19b-4 varieties, submitted by the itemizing alternate, define circumstances and amend itemizing guidelines for a brand new product.
Bitwise just isn’t 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. Nonetheless, the 2 corporations’ S-1 filings for a Dogecoin ETF differ.
Bitwise is in search of a DOGE ETF below the 33 Act reasonably than the 40 Act, which Rex and Osprey filed below, Bloomberg Intelligence senior ETF analyst Eric Balchunas identified.
That is the primary ‘33 Act (a la $IBIT) doge submitting. Rex has on e filed below 40 Act however that isn’t the identical true blue bodily backed construction
— Eric Balchunas (@EricBalchunas) January 28, 2025
S-1 filings below 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 corporations have been making an attempt to record ETFs on public exchanges for years. The floodgates opened after the SEC first permitted 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.
Apparently, former SEC Chair Gary Gensler was crucial of cryptocurrencies. Nonetheless, after Donald Trump turned President, crypto-friendly Mark Uyeda was appointed Appearing SEC Chair till the nomination of Paul Atkins receives Senate approval. Now, it stays to be seen how the brand new SEC management will method crypto.
President Trump additionally not too long ago appointed a working group to discover potential cryptocurrency insurance policies within the US.