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crypto.news 2025-01-29 04:10:18

Dogecoin ETF moves closer as Bitwise files S-1 with the SEC

Bitwise has submitted its official S-1 filing for a spot Dogecoin ETF, making its plans public with the SEC. Bitwise has officially filed with the U.S. Securities and Exchange Commission to launch a Dogecoin ( DOGE ) exchange-traded fund (ETF). The company submitted an S-1 registration on Jan. 28, which formalizes its intention to offer a spot Dogecoin ETF. Earlier, on Jan. 22, Bitwise had filed a registration in Delaware, signaling its plans to introduce the product. Bloomberg ETF analyst James Seyffart noted on X that while the filing had been anticipated, this step makes the proposal official with the SEC. We knew this was coming because they filed to register the trust last week but this makes it official with the SEC. https://t.co/J7GuVqujJw — James Seyffart (@JSeyff) January 28, 2025 Bitwise is not the only asset manager who filed for a DOGE ETF. Earlier, on Jan. 21, Rex Shares and Osprey Funds, a firm that focuses on ETFs and ETNs, filed Form N1-A for DOGE and many other cryptos, including Official Trump ( TRUMP ), Solana ( SOL ), Bitcoin ( BTC ) and Ripple ( XRP ). ETFs offer investors a range of benefits, including diversification, cost efficiency, liquidity, and transparency, making them a convenient way to manage investments. A Dogecoin ETF would provide investors with exposure to DOGE’s price movements in a regulated environment, without the need for crypto wallets or exchanges. You might also like: Nasdaq seeks to allow ‘in-kind’ redemptions for BlackRock’s Bitcoin ETF As per CoinDesk , Bitwise’s ETF was filed under the “33 Act” and Rex and Osprey under the “40 Act”, says Bloomberg ETF analyst Eric Balchunas. This is the first ‘33 Act (a la $IBIT ) doge filing. Rex has on e filed under 40 Act but that isn’t the same true blue physically backed structure — Eric Balchunas (@EricBalchunas) January 28, 2025 The 40 Act’s primary distinguishing feature is that it imposes tighter SEC oversight and better governance and limits on riskier manoeuvres like leverage and short-selling, offering investors stronger protections. In contrast, the 33 Act is commonly utilized for speciality ETFs like commodity-based ETFs with less stringent regulatory requirements. However, while a DOGE ETF would ease access for investors to gain exposure to DOGE without having to deal with crypto exchanges, it also raises eyebrows because meme coins often face criticism for their volatility. On Jan. 16, Max Buwick of Burwick Law pointed out that meme coins are the “ultimate evolution of multi-level marketing scams”. Burwick believes meme coins prey on human desperation and is not backed by strong fundamentals. However, as CryptoQuant CEO puts it, Trump has convened a new era of meme coins , like it or not! Read more: Meme coin hype fades as experts back this crypto to outpace both DOGE and SHIB

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