Bitwise Submits Filing for Dogecoin ETF as Memecoin Market Gains Traction

Bitwise has officially filed a registration for a Dogecoin (DOGE) exchange-traded fund (ETF), signaling growing institutional interest in the memecoin sector.

The “Bitwise Dogecoin ETF” filing was submitted late Wednesday and registered with the Delaware Division of Corporations. Although such filings are sometimes speculative or preliminary, Bitwise confirmed the registration with The Block.

This Delaware filing serves as an early step before submitting a formal ETF proposal to the U.S. Securities and Exchange Commission (SEC). While it establishes the legal entity that would manage the potential ETF, it does not represent an official application for SEC approval.

This move follows similar filings by Rex Shares and Osprey Funds for multiple crypto ETFs, including one for Dogecoin. Should the SEC approve such an ETF, it would bring institutional legitimacy to DOGE, attracting a broader range of investors, including those from more traditional or conservative sectors. If the ETF sees even a fraction of the capital inflows that Bitcoin ETFs have enjoyed, which have attracted over $50 billion in the past year, DOGE prices could experience substantial growth.

As of Thursday, Dogecoin holds a market capitalization of $52 billion, making it the largest memecoin in the world. The token has seen a more than threefold increase in price over the past year, buoyed by its speculative nature and its tendency to track Bitcoin’s movements. Additionally, DOGE has gained recent attention following the announcement of the creation of the Department of Government Efficiency (D.O.G.E.), led by Elon Musk.

The D.O.G.E. agency, which aims to streamline U.S. government spending and operations, was first proposed in mid-October and officially acknowledged during Donald Trump’s inauguration on Monday. The agency’s website briefly displayed a Dogecoin token logo on Tuesday, which was later updated to only show the D.O.G.E. name. This connection to the popular memecoin has further fueled demand, with traders speculating that DOGE could benefit from the success of the D.O.G.E. agency and its initiatives.