Bitwise Dogecoin ETF Could Launch in 20 Days

Bitwise has taken a crucial step toward launching its Dogecoin ETF by removing a “delaying amendment” from its S-1 registration statement filed with the U.S. Securities and Exchange Commission. This procedural move triggers a 20-day review period during which the SEC can object to the filing. If regulators raise no concerns, the registration automatically becomes effective, potentially allowing the fund to begin trading before the end of November.

The timing places Bitwise’s product as the second U.S. ETF offering direct exposure to Dogecoin, following the September debut of Rex Shares and Osprey Funds’ DOJE ETF. That pioneering fund has already generated $17 million in trading volume, demonstrating investor appetite for meme coin exposure through traditional financial vehicles. The regulatory environment has become more favorable following the SEC’s decision to ease generic listing standards for commodity-based trusts, creating a pathway for more cryptocurrency investment products.

Bitwise’s Dogecoin ETF filing represents just one of more than 90 applications submitted to regulators for funds tracking various altcoins and token combinations, according to Bloomberg data. This surge in applications reflects growing institutional interest in expanding beyond Bitcoin and Ethereum, whose ETFs have achieved remarkable success since launching last year. Bitcoin ETFs now manage approximately $150 billion in assets, while Ethereum ETFs handle about $20 billion.

Financial advisor Ric Edelman, who heads the Digital Assets Council of Financial Advisors, explained the strategic thinking behind this expansion. “Bitwise smartly holds the view that investors should have the ability to invest in whatever assets they wish, and it works hard to offer as broad an array of options as it can,” Edelman told Decrypt. He added that he expects altcoin funds to accumulate roughly the same volume of assets relative to Bitcoin ETFs as altcoins themselves have generated relative to the leading cryptocurrency.

The regulatory shift and market demand have created fertile ground for cryptocurrency investment products that bridge traditional finance and digital assets. Asset managers from both crypto-native and traditional finance backgrounds are competing to capture what many see as the next wave of institutional cryptocurrency adoption.

Dogecoin was recently trading at close to $0.18 per coin, representing a more than 13% 24-hour rise according to data from crypto markets provider CoinGecko. The asset currently ranks as the 10th largest cryptocurrency with a market capitalization of $25.4 billion, though it has struggled to surpass its all-time high of $0.73 reached during the 2021 crypto bull market.

The potential approval of Bitwise’s ETF comes at a time when Dogecoin continues to maintain significant retail investor interest and cultural relevance. When contacted by Decrypt for comment, Bitwise responded with the characteristically playful statement: “The only comment we can make is ‘woof, woof,'” echoing the meme coin’s lighthearted origins while maintaining regulatory compliance during the quiet period.

The success of the existing DOJE ETF and the potential approval of Bitwise’s product signal that what began as a joke cryptocurrency has evolved into a serious investment vehicle with institutional backing. As the 20-day countdown progresses, market watchers will be monitoring both regulatory developments and Dogecoin’s price movements for signs of how this new investment option might perform in the increasingly crowded crypto ETF landscape.