Key Takeaways
- Bitwise Asset Management is preparing a Dogecoin ETF application, reflecting growing interest in crypto ETFs under favorable conditions.
- Trump's pro-crypto administration and regulatory moves have fueled a wave of ETF filings, with analysts predicting more approvals.
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Bitwise Asset Management is preparing to file a Dogecoin ETF application with the SEC, with Delaware corporate registration indicates a pending filing.
On the news, the Dogecoin price rose 4% to $0.373 before settling at $0.36.
The move comes at a critical time for crypto regulation in the US.
President Donald Trump, who was sworn in Monday as the 47th President, has promised a pro-crypto administration with a more favorable regulatory environment.
The appointment of Mark Uyeda as interim SEC Chairman reinforces the administration's commitment to reshaping crypto regulation.
Just yesterday, hey name a new crypto task force, led by Commissioner Hester Peirce, to establish a clear framework for digital assets.
Experts like ETF Store President Nate Geraci believe the move would lead to a wave of ETF registrations and potential approvals, with Geraci saying last year,
“I think everything is on the table moving forward with the new administration. “
ETF analyst Eric Balchunas, speaking to The Block last November, said on Dogecoin ETFs,
“Today's satire is tomorrow's ETF. You might ask yourself, 'Is DOGE a bridge too far?' and I'd say we'll see. I think someone is going to try it because why not? “
Adding to the buzz around a possible Dogecoin ETF, Osprey Funds to file yesterday for many ETFs, including Dogecoin, Trump token, Solana, Ethereum, Bitcoin, XRP, and Bonk.
The Trump meme base, launched less than a week ago, highlights the remarkable developments under the new administration.
With such unconventional claims emerging within days of Trump taking office, hope is growing that crypto products that were previously seen as far-fetched could gain approval.
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