Bitwise Files for Dogecoin ETF Amid Growing Meme Coin Interest
Crypto asset management company Bitwise has submitted an application for a Dogecoin ETF through the Delaware Trust Agency.
This step is limited to registered trusts, which still require formal filing with the SEC for approval.
Meme Coin ETF is gaining attention
ETF applications have surged since Gary Gensler resigned as SEC chairman on Friday. Among these applications, meme coin ETFs have attracted significant interest.
Rex Shares’ most recent filings Available for ETFs involving TRUMP, BONK and DOGE, as well as Bitcoin and Ethereum ETFs.
Earlier today, BONK price surges It was driven by increased investor interest following Rex Shares’ ETF filing. Growing demand for BONK bodes well for the possibility of continued price momentum. Dogecoin could see similar price action if its ETF application is approved.
Back in September 2024, Bitwise’s Matt Hogan expresses optimism About ETF Opportunities Solana and meme coins.
Institutional interest in Meme coins is growing
Interest in meme coins has grown significantly in recent days. this Launching Trump Meme Coin The leadership of the President of the United States has played an important role in this trend.
Report shows 40% of Trumpcoin buyers are first-time cryptocurrency investorshighlighting the appeal of meme coins beyond the cryptocurrency space. This may explain why companies like Bitwise are moving quickly to develop an ETF for Dogecoin, a leading meme coin.
Meme coins are also entering institutional markets outside the United States. Floki also plans to launch an exchange-traded product (ETP) Available in Europe in early 2025.
Meanwhile, analysts believe Litecoin could become the first altcoin to receive ETF approval after Ethereum. Nasdaq has filed Form 19b-4 to list Canary Capital’s Proposed Litecoin ETF. The filing is consistent with Canary’s recent S-1 amendment and SEC feedback.
Overall, according to Bitwise’s latest filing, the asset manager is clearly looking to bring memecoins to the retail investment market as soon as possible.
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