Crypto asset manager Bitwise submitted its SEC filing for an exchange-traded fund (ETF) that would track Dogecoin (DOGE) prices. On January 28, the company filed an S-1 statement with the SEC to formally introduce Dogecoin-based ETFs to financial markets.
Bitwise moves forward with Dogecoin ETF filing
Bitwise’s filing outlines its plan to create a fund that directly holds Dogecoin and follows its price movements. According to Bloomberg ETF analyst James Seyffart, the firm had already registered a Dogecoin trust in Delaware on January 22, but this new filing makes it official with the SEC.
According to the filing, Coinbase Custody will be the proposed custodian for the exchange-traded fund. To date, Bitwise has failed to reveal its selection of ticker symbol alongside fee structures or the anticipated stock exchange where the fund needs to list for approval. Meme coin investments are rising in financial markets because Coinbase Custody decided to start offering one of these products.
Bitwise takes a different approach from Rex and Osprey
Other investment firms, including Rex Shares and Osprey Funds, have also submitted filings for cryptocurrency-based ETFs, including Dogecoin. The SEC filing methods used by Bitwise depart from conventional crypto fund entities.
According to Bloomberg Intelligence senior ETF analyst Eric Balchunas, Bitwise’s ETF will deploy the Securities Act of 1933 registration framework for commodity-based funds. Rex and Osprey employed the more regulatory Investment Company Act of 1940 for their filings, while Bitwise decided on the Securities Act of 1933.
Through its leverage of short-selling rules and governance prerequisites, the 40 Act presents itself as a framework with higher regulation levels. With the ’33 Act registration structure, Bitwise funds its ETF according to established commodity-backed fund principles that have gained approval in past cryptocurrency ETF applications.
Bitwise expands Crypto offerings amid changing regulations
The Dogecoin ETF filing is part of Bitwise’s broader effort to expand cryptocurrency investment products. The firm currently offers spot Bitcoin (BTC) and Ethereum (ETH) ETFs and has also submitted filings for Solana (SOL) and XRP (XRP) ETFs. In November, Bitwise applied to list the Bitwise 10 Crypto Index Fund on NYSE Arca. This fund would track the ten largest cryptocurrencies by market capitalization, including Cardano (ADA), Uniswap (UNI), and Polkadot (DOT).
While submitting an S-1 is a critical step, the more significant regulatory milestone is the 19b-4 filing, which would trigger a formal review and set a deadline for the SEC’s decision. Meme coin ETFs were once considered unlikely under the previous SEC leadership, which resisted spotting Bitcoin ETFs. However, with President Donald Trump in office, regulatory attitudes toward cryptocurrency are shifting. Trump has publicly supported crypto-friendly policies and even introduced his meme coins, signaling potential openness to these investment products.