Bitwise has reportedly registered a legal entity for a Dogecoin ETF, sparking speculation about an imminent filing with the US Securities and Exchange Commission (SEC). This development briefly boosted the price of Dogecoin, which reached $0.373 before settling near $0.36 at the time of reporting.
Bitwise moves towards Dogecoin ET registration
According to information accessed in the Delaware corporate registry WebsiteBitwise has created a legal entity named “BITWISE DOGECOIN ETF”. This is not an official ETF filing with the SEC, but is viewed as a starting point for such a filing.
In most cases, ETF registrations are made after setting up the legal structure that follows the filing of Form S-1 with the Securities and Exchange Commission. Market participants will likely see Bitwise provide the necessary documentation in the near future, with Dogecoin joining other digital assets proposed by issuers for ETFs.
Bloomberg ETF analyst Eric Balchunas also confirmed this, saying: “This is real and not a market manipulation scheme.” Balchunas estimated that the DOGE ETF could launch as soon as April 2025 if it gets the green light.
DOGE price reaction and whale activity
News of the filing led to a slight increase in the value of Dogecoins, which rose to 4% and traded at $0.373 before falling back to $0.36. The announcement has received interest from institutional and retail investors, with further action expected from the price if a formal application is made for the ETF.
Meanwhile, whale activity rose due to improved sentiment. According to data provided by Santiment, majority holders accumulated 590 million DOGE tokens in the past day. Excitingly, a Dogecoin icon has been featured on the website of the newly formed US Department of Government Efficiency, or DOGE. They were created by executive order shortly after the inauguration of President Donald Trump on January 20, 2025.
Other technical analysts have also come up with possible Dogecoin price predictions. Trader Mikybull posted a chart indicating a bullish flag pattern that could push DOGE to $2 if the pattern is confirmed. However, cryptocurrency analyst Ali Martinez predicts that the price could rise to $15 if approval is granted for the Dogecoin ETF.
Momentum is growing for cryptocurrency ETFs
The potential filing of a Dogecoin ETF comes as the SEC has shown greater willingness to approve cryptocurrency-related funds. Bitcoin and Ethereum ETFs have recently been greenlit, indicating a shift in regulatory attitudes.
The resignation of former SEC Chairman Gary Gensler has heightened speculation about the approval of spot cryptocurrency ETFs. Rex Osprey, an asset manager overseeing $8 billion, has also filed for a Dogecoin fund, adding to the momentum.
Observers believe that the Dogecoin ETF will increase institutional adoption and provide retail investors with easier access to the cryptocurrency.
Kelvin Munene Muriithi
Kelvin is a distinguished writer with experience in cryptocurrencies and finance, and holds a bachelor’s degree in actuarial science. Known for his incisive analysis and insightful content, he is fluent in English and excels at conducting comprehensive research and providing timely cryptocurrency market updates.
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