Bitwise plans to launch the $DOGE ETF. DOGE enthusiasts could benefit from this development.
Let’s dive into what this means, how DOGE performs, and the excitement surrounding DOGE ETF.
What’s Going On?
According to James Seyffart, an ETF expert from Bloomberg, Bitwise has established a trust in Delaware named “BITWISE DOGECOIN ETF.” This is a common setup for asset managers preparing to launch ETFs. While this doesn’t guarantee an immediate filing with the U.S. SEC, it signals that the race to create crypto ETFs is heating up—and Dogecoin is part of the action.
Bitwise Doge ETF likely coming soon.. and yes I checked and this is def legit (vs some whack job committing forgery for a quick pump a la BlackRock XRP that one time). pic.twitter.com/MxoswD0IFy
— Eric Balchunas (@EricBalchunas) January 22, 2025
But Bitwise isn’t the only player in town. REX Shares filed its application to the SEC for DOGE alongside a proposed ETF featuring the Trump-themed ETF. REX Shares developed a format that implies DOGE ETFs will come to market sooner than Ripple XRP, Solana, or Litecoin ETFs. The structure serves to shorten and simplify the regulatory approval procedure.
Good point on the Doge/Trump ETF filing, these are ’40 Act filings and so (theoretically, if they aren’t disapproved) could hit the market in early April (75 days after filing) and beat the XRP, Solana, Litecoin ETFs out bc those have to file 19b-4s which have a 240-day clock.… https://t.co/t5ftWo9ZKR
— Eric Balchunas (@EricBalchunas) January 21, 2025
How’s DOGE Holding Up?
Despite the ETF buzz, DOGE’s price hasn’t looked too good lately. It’s dropped about 9.7% over the past week, according to CoinMarketCap . However, on a brighter note, DOGE’s daily chart still shows an uptrend, with prices bouncing off key trendline support near $0.30.
If this support holds, DOGE could climb to $0.45. But if it breaks, $0.30 will be the critical level to watch. Trading volumes have slowed, which usually means sellers run out of steam. Plus, indicators like the Relative Strength Index (RSI) suggest some positive momentum might still be in play.
JUST IN: Bitwise files Dogecoin $DOGE ETF.
— Watcher.Guru (@WatcherGuru) January 22, 2025
Conclusion
Bitwise’s decision to file a $DOGE ETF shows how the crypto market reflects the growing popularity of memecoins. DOGE enthusiasts should follow both the cryptocurrency price movements and the approval developments for these ETFs because these events promise an exciting future.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
