Bitwise Asset Management has filed an updated registration for a spot Dogecoin exchange-traded fund (ETF), utilizing a regulatory path under Section 8(a) of the Securities Act that could allow the ETF to become effective automatically in 20 days unless the Securities and Exchange Commission (SEC) intervenes. This move, highlighted by Bloomberg ETF analyst Eric Balchunas, sets a potential launch date around November 26, 2025, if no objections arise.
The ETF is designed to hold Dogecoin (DOGE) directly, with custody managed by Coinbase Custody and cash assets handled by BNY Mellon. It aims to track DOGE's spot price using the CF Dogecoin-Dollar Settlement Price and is expected to list on NYSE Arca, though the ticker and management fee have not yet been disclosed. This filing reflects growing demand for regulated investment vehicles beyond Bitcoin and Ethereum, targeting tokens with strong cultural and retail appeal like Dogecoin.
If approved, the ETF could reduce friction for both institutional and individual investors by providing exposure to Dogecoin without the need for private key management. The timing aligns with the expansion of crypto investment products, following the success of spot Bitcoin ETFs and the recent launch of the REX-Osprey DOGE ETF in September 2025. Analysts at Bloomberg estimate a greater than 90% chance of multiple Dogecoin ETFs trading by year-end, citing the SEC's more open stance.
However, regulatory hurdles remain, as the SEC may examine concerns over market manipulation, custody controls, and Dogecoin's volatility. Bitwise's application emphasizes structured pricing and institutional-grade safeguards to address these issues. Approval is not guaranteed, and delays or modifications are possible during the SEC's review period.
Market implications include potential attraction of retail traders and professional portfolio managers, reinforcing Dogecoin's role in diversified digital asset strategies. This filing signals broader acceptance of alternative cryptocurrencies in regulated markets and may inspire other asset managers to explore similar offerings for tokens with strong liquidity and investor demand.
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