Bitwise Joins the Race for the First Dogecoin ETF
Bitwise Asset Management officially submitted a document of a Dog Exchange Trading Fund (ETF) on Tuesday.
This is the second time after the similar actions of Rex shares, the dog ETF was submitted for the second time.
Dogecoin ETF Diamond File
On January 28, the asset manager submitted S-1 form And SEC launches Dogecoin ETF. This file was proposed shortly after it Establishing the application of dog ETF in the early days Through the Tellawa Trust.
Bloomberg analyst James Seyffart (James Seyffart Publish On X (previously Twitter).
Join through this move Rex shared, recently submitted ETF Application of multiple cause coins. These include Doge, BONK (BONK) and Donald Trump Trump token.
Nevertheless, Bitwise’s files are indeed professional. Bloomberg’s senior ETF analyst Eric Balchunas emphasized that the document was proposed based on the 1933 “Securities Law”.
“This is the first ’33 ACT (a la $ ibit) file. Write On X.
It is worth noting that this difference is very important. According to the ETF mentioned in the “Securities Law” in 1933, it is physical support, which means that they Holding basic assets-In this case, DogecoinEssence
Instead, the ETF of the Investment Company Law in 1940 has different structures. Therefore, they do not necessarily involve direct ownership of assets.
In addition, in its application, Bitwise specifies the coinbase monitoring right as the custodian ETF of the custodian. However, S-1 did miss some details. This includes suggestions, stock symbols or if they are approved, it will list ETF stock exchanges on it.
At the same time, follow bitwise Dogecoin ETF filing, betting odds On the forecast platform, Polmarket soared to 56 % of the record to support approval. When writing this article, the probability remains stable to 55 %.
During the increase in cryptocurrency ETF applications, Bitwise’s move appeared. The company has already Launched Bitcoin (BTC) and Eta (ETH) ETFSEssence In addition, it also proposed Solana (SOL) and XRP (XRP) ETFSEssence
but, Bitwise 10 encryption index fund proposal Still waiting for review. The fund aims to track the performance of ten largest cryptocurrencies through market value. Nevertheless, the SEC will be extended to the application for the application to March 2025.
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