Asset management firm Bitwise is pushing its crypto ETF agenda with a new filing targeting Dogecoin (DOGE). The firm has officially submitted the S-1 registration statement with the United States Securities and Exchange Commission (SEC) for the Bitwise Dogecoin ETF.
Bitwise Dogecoin ETF Is Inevitable
This new product, per the prospectus, comes with no defined ticker symbol yet and the firm has yet to confirm the trading platform it will list it. However, Bitwise said the new fund is designed to provide exposure to DOGE, the industry’s largest memecoin.
Bitwise said the fund will hold Dogecoin directly and establish the ETF product’s Net Asset Value (NAV). It confirmed that the Fund will rely on the Dogecoin-Dollar settlement benchmark provided by the CF trading platform. Other key details like the sponsor fee are yet to be announced.
This Dogecoin ETF filing comes barely a week after Bitwise initiated its first move for the asset. As reported by Coingape, it registered a legal entity for the DOGE ETF, sending the coin’s price up at the time.
Commenting on the S-1 filing, Bloomberg Senior ETF Analyst James Seyffart noted that the full filing from the firm was inevitable.
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Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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