Hassan Maishera
TL;DR
-
Bitwise has filed for a Dogecoin exchange-traded fund (ETF) with Delaware's Department of State's Division of Corporations.
-
XRP, Litecoin, and Solana ETF applications have recently been filed with the U.S. SEC.
Bitwise Files for a Dogecoin ETF
Crypto index fund manager Bitwise has filed for a potential Dogecoin ETF with Delaware's Department of State's Division of Corporations.
The firm's chief investment officer, Matt Hougan, confirmed this latest development to The Block.
Dogecoin is perhaps the earliest memecoin and currently the largest in terms of market cap. It was launched as a joke in 2013 by software engineers Markus and Jackson Palmer.
The memecoin has gained further popularity in recent months thanks to the launch of the Department of Government Efficiency under now-President Donald Trump.
The last few months have seen several cryptocurrency ETF applications filed with the United States Securities and Exchange Commission. Already, we have spot XRP and Solana ETF applications with the SEC.
Last week, NASDAQ filed the 19b-4 form for Canary Capital’s Litecoin ETF with the SEC. After acknowledging the filing, the SEC will decide on the ETF’s fate.
This latest development comes as investors expect crypto-friendly policies in the United States in the coming months and years. Earlier this week, it was announced that the U.S. Securities and Exchange Commission's Hester Peirce will lead a crypto task force.
According to Matt Mena, Crypto Research Strategist at 21Shares,
“The newly established crypto task force, led by Commissioner Hester Peirce, could accelerate the approval of a broader range of crypto ETFs, including SOL, XRP, LTC, DOT, and DOGE."
DOGE is currently the 7th-largest cryptocurrency by market cap, just above USDC. The memecoin is trading at $0.3542 with a market cap of $52 billion.
