Key Takeaways
- Bitwise Asset Management is preparing a Dogecoin ETF application, reflecting growing interest in crypto ETFs under favorable conditions.
- Trump’s pro-crypto administration and regulatory shift have triggered a wave of ETF applications, with analysts predicting more approvals ahead.
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Bitwise Asset Management is gearing up to submit a Dogecoin ETF application to the SEC, with Delaware corporate registration indicating an imminent filing.
Upon the news, Dogecoin’s price surged 4% to $0.373 before settling at $0.36.
The move comes during a pivotal moment for crypto regulation in the US.
President Donald Trump, sworn in on Monday as the 47th President, has promised a pro-crypto administration with a more favorable regulatory environment.
Mark Uyeda’s appointment as interim SEC Chair underscores the administration’s commitment to reshaping crypto regulation.
Just yesterday, he announced a new crypto task force, led by Commissioner Hester Peirce, to establish a clear framework for digital assets.
Experts like ETF Store President Nate Geraci believe this shift will spark a wave of ETF filings and potential approvals, with Geraci stating last year,
“I think everything is on the table moving forward with the new administration.”
ETF analyst Eric Balchunas, speaking to The Block in November last year, commented on Dogecoin ETFs,
“Today’s satire is tomorrow’s ETF. You could ask yourself, ‘Is DOGE a bridge too far?’ and I would say we’ll see. I think someone’s gonna try it because why not?”
Adding to the excitement around a potential Dogecoin ETF, Osprey Funds filed yesterday for multiple ETFs, including Dogecoin, Trump token, Solana, Ethereum, Bitcoin, XRP, and Bonk.
The Trump meme coin, launched less than a week ago, highlights the surprising developments under the new administration.
With such unconventional applications surfacing within days of Trump taking office, optimism is growing that crypto products previously seen as far-fetched could gain approval.
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