TLDR

• Bitwise Asset Management has registered a “BITWISE DOGECOIN ETF” entity in Delaware, indicating potential future ETF development
• The Delaware registration is only a preliminary step and not an official SEC filing
• Dogecoin price briefly touched $0.373 following the news, with whale activity showing 590M DOGE accumulation in 24 hours
• Multiple asset managers, including Rex Osprey, are pursuing Dogecoin ETF products
• Bloomberg analysts suggest potential Dogecoin ETF launches could occur as early as April 2025

Bitwise Asset Management has taken an initial step toward creating a Dogecoin ETF by registering a business entity in Delaware, as crypto asset managers continue expanding their ETF offerings beyond Bitcoin and Ethereum.

The registration, completed on Wednesday through CSC Delaware Trust Company in Wilmington, establishes “BITWISE DOGECOIN ETF” as a statutory trust.

The move comes amid growing interest in cryptocurrency investment products from traditional financial institutions. Bitwise, which currently manages over $12 billion in crypto assets, has been steadily expanding its ETF lineup in recent months.

A source familiar with the matter confirmed to Decrypt that Bitwise is working on a Dogecoin ETF, though specific details remain confidential at this time. The Delaware registration represents an early administrative step rather than a complete ETF proposal.

Bloomberg Senior Analyst James Seyffart clarified the nature of the filing on social media platform X, stating, “This is just a registration for a trust. Assuming it’s real […] it’s still not an official ETF filing with the SEC.”

True if Big. @BitwiseInvest Dogecoin ETF

NOTE: this is just a registration for a trust. Assuming its real — its still not an official ETF filing with the SEC. At least not yet! https://t.co/CL3hgtWBNA

— James Seyffart (@JSeyff) January 22, 2025

The Delaware statutory trust structure provides several advantages for investment products, including tax benefits and clear governance frameworks. It also helps separate potential ETF assets from other business activities.

However, Bitwise must still file a comprehensive application with the Securities and Exchange Commission before any product could reach the market.

Market response to the news was swift, with Dogecoin’s price briefly rising to $0.373 before settling around $0.36. Data from Santiment showed large holders accumulated approximately 590 million DOGE tokens within 24 hours of the announcement.

The timing of Bitwise’s registration aligns with broader institutional interest in crypto exposure through regulated products. In recent weeks, multiple asset managers have filed for various crypto-related ETFs. VanEck submitted an application for an “onchain economy” ETF on January 15, while the SEC approved several “protected” Bitcoin ETFs for trading this week.

Bitwise has demonstrated consistent interest in expanding beyond major cryptocurrencies. The firm moved to combine its Bitcoin and Ethereum ETF offerings in October 2024 and filed for a Solana ETF in November of the same year.

Rex Osprey, an asset manager overseeing $8 billion, has also filed for a Dogecoin fund, adding to the growing momentum in the space. This increased activity suggests rising institutional appetite for diverse crypto investment products.

Bloomberg ETF analyst Eric Balchunas has validated the authenticity of the registration, noting that “This is real and not a market manipulation scheme.” Balchunas estimates that a DOGE ETF could potentially launch by April 2025, pending regulatory approval.

Technical analysts have offered various price predictions for Dogecoin in response to the news. Trader Mikybull identified a bullish flag pattern that could push DOGE to $2, while analyst Ali Martinez suggested potential price movement to higher levels if a Dogecoin ETF receives approval.

The development coincides with other institutional moves in the crypto space. The newly formed U.S. Department of Government Efficiency (D.O.G.E.) has displayed the Dogecoin icon on its website following its creation by executive order after President Trump’s inauguration on January 20, 2025.

The registration process mirrors similar preparatory steps taken before previous crypto ETF applications, as asset managers typically establish business entities ahead of formal SEC filings.

For any potential Dogecoin ETF to move forward, Bitwise would need to complete the full SEC application process, including detailed documentation and regulatory review.

The post Dogecoin (DOGE) Heads to Wall Street: Bitwise Makes First Move Toward ETF appeared first on Blockonomi.