Bitwise Asset Management has officially filed for a Dogecoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). This move follows a similar application from Rex Shares last week, signaling growing institutional interest in Dogecoin.

Bitwise Joins the Dogecoin ETF Race
On January 28, Bitwise submitted an S-1 filing to the SEC to launch a Dogecoin ETF. This follows its previous attempt to introduce a DOGE ETF through a Delaware trust.
Bitwise’s filing differs from Rex Shares’ approach. While Rex Shares applied for multiple meme coin ETFs, including Bonk (BONK) and Donald Trump’s TRUMP token, Bitwise is focusing solely on Dogecoin.
Physically Backed Dogecoin ETF Explained
One key aspect of Bitwise’s Dogecoin ETF is its filing under the Securities Act of 1933. According to Bloomberg ETF analyst Eric Balchunas, this classification means the ETF would be physically backed, holding actual Dogecoin.
This differs from ETFs under the Investment Company Act of 1940, which may not directly own the underlying asset. Bitwise has also designated Coinbase Custody as the proposed custodian for the DOGE ETF.
However, some details remain undisclosed, including the proposed fee, ticker symbol, and the exchange on which the ETF would be listed if approved.
Approval Odds and Market Reactions
Following Bitwise’s filing, Polymarket betting odds on DOGE ETF approval surged to 56%, reflecting growing optimism. Currently, the odds remain at 55%.

This filing comes amid a surge in cryptocurrency ETFs. Bitwise has already launched spot Bitcoin (BTC) and Ethereum (ETH) ETFs and has applied for Solana (SOL) and XRP (XRP) ETFs.
Meanwhile, the Bitwise 10 Crypto Index Fund, which tracks the top ten cryptocurrencies, is still under SEC review. The decision has been extended until March 2025.