Crypto fund manager Bitwise Asset Management has officially filed for a Dogecoin (DOGE) exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The news broke after the company submitted its registration to the Delaware Department of State’s Division of Corporations on Jan. 23, a decision confirmed by Matt Hougan, Bitwise’s Chief Investment Officer, per a report from The Block. “This was from us,” Hougan said. The “Bitwise Dogecoin ETF” is the first attempt by any financial institution to bring a DOGE-focused ETF into the highly regulated U.S. market. The decision comes as no surprise to those watching its recent resurgence under the Trump administration, thanks to “First Buddy” Elon Musk. Created in 2013 by Billy Markus and Jackson Palmer, Dogecoin was designed as a satirical take on the growing crypto market. For years, the Shiba Inu-themed token floated in the shadow of its more serious counterparts. But things took a dramatic turn last year. Under the Department of Government Efficiency (D.O.G.E), led by President Donald Trump, Dogecoin has become a surprising symbol of financial innovation. The department’s website even displayed DOGE’s logo earlier this week, causing a ton of bullish speculation in the community. ETF Store President Nate Geraci expressed surprise that no company had taken the plunge earlier. “I remain shocked that no issuer has filed for a Dogecoin ETF,” Nate wrote on X (formerly Twitter) on January 15. He pointed out that DOGE is the seventh-largest cryptocurrency by market capitalization, calling the filing a potential marketing win or, at best, a path to SEC approval. Elon continues to be a major force behind DOGE’s mainstream acceptance. Bloomberg ETF analyst Eric Balchunas commented in November 2024, “Today’s satire is tomorrow’s ETF. Is DOGE a bridge too far? We’ll see.” The timing of the filing aligns with increasing optimism about regulatory reforms. “The hope is that the new administration moves quickly to designate which crypto assets are securities and which aren’t,” Geraci added. “Once that framework is in place, the approval path for additional spot crypto ETFs should become much clearer.” From Zero to Web3 Pro: Your 90-Day Career Launch Plan
