Bitwise Asset Management’s Dogecoin ETF is moving closer to approval. On March 3, NYSE Arca filed a 19b-4 proposal to list and trade its shares. If approved, this would allow investors to gain direct exposure to Dogecoin on a regulated exchange.
How the Bitwise Dogecoin ETF Works
The Bitwise Dogecoin ETF is structured as a Delaware statutory trust and will be managed under a trust agreement with Bitwise as the sponsor.
- The ETF aims to track Dogecoin’s value while covering operational costs.
- Instead of derivatives, the fund will hold Dogecoin directly with minimal cash reserves.
- Fees, including Bitwise’s management fee, will be paid in Dogecoin.
- Any unintended digital assets from forks or airdrops are excluded from the trust agreement.
- Investors must use cash for creations and redemptions—no direct Dogecoin deposits or withdrawals.
Coinbase will serve as the Dogecoin custodian, while the Bank of New York Mellon will handle cash custody, administration, and transfer services.
SEC Filings and Industry Competition
Bitwise initially filed for the Bitwise Dogecoin ETF in January, followed by an S-1 registration on January 28. However, it’s not the only firm pursuing a Dogecoin ETF.
Other Competitors Include:
✔ Rex Shares
✔ Osprey Funds
✔ Grayscale (SEC acknowledged its application on February 13)
Additionally, Bitwise has filed for an Aptos ETF, submitting an S-1 registration on February 27 with the Delaware Department of State. If approved, it would be the first APT-based ETF in the U.S.
Final Thoughts
With NYSE Arca’s filing, the Bitwise Dogecoin ETF is one step closer to approval. If the SEC grants approval, this could mark a significant milestone for Dogecoin’s adoption in traditional finance.
What do you think about a Dogecoin ETF? Drop your thoughts in the comments!
