Bitwise has filed for a Dogecoin ETF

Bitwise has applied to the U.S. Securities and Exchange Commission (SEC) for a Dogecoin ETF. This application is significant because it is the first physically-backed structure for Dogecoin under the “33 Act.” Bitwise’s move follows its recent corporate registration in Delaware.

This development comes shortly after Rex Shares submitted applications for a series of ETFs. These ETFs target various digital assets, including Dogecoin, Solana, Ethereum, Bitcoin, XRP, Trump, and Bonk. Rex Shares aims to make it easier for investors to access a diverse range of cryptocurrencies, especially as interest in digital assets grows.

The proposed Bitwise ETF seeks to provide direct exposure to Dogecoin. To achieve this, the fund will offer secure custody services and transparent valuation mechanisms. Additionally, it will include a management fee to help minimize risks for investors. The fund will also implement measures to address price volatility and liquidity risks. This type of ETF could be a valuable opportunity for those looking to invest in a volatile asset like Dogecoin.

Overall, Bitwise’s initiative represents a step toward greater regulatory approval and increased participation from institutional investors in the cryptocurrency market. As interest in cryptocurrencies continues to rise, the introduction of such products may allow investors to explore digital assets in a more secure and regulated environment.