Important points
- Bitwise Asset Management is preparing to file a Dogecoin ETF, reflecting the growing interest in crypto ETFs under favorable conditions.
- President Trump’s pro-crypto administration and regulatory reforms have sparked a wave of ETF applications, and analysts expect more approvals to come.
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Bitwise Asset Management is preparing to file a Dogecoin ETF application with the SEC, and its Delaware corporate registration indicates the filing is imminent.
Following this news, Dogecoin's price rose 4% to $0.373 before settling at $0.36.
The move comes at a critical time for U.S. cryptocurrency regulation.
President Donald Trump, who was sworn in as the 47th president on Monday, promised a pro-crypto administration with a more favorable regulatory environment.
The appointment of Mark Ueda as Interim SEC Chairman underscores the administration's commitment to reshaping crypto regulation.
Just yesterday, it announced a new Crypto Task Force, led by Chair Hester Peirce, to establish a clear framework for digital assets.
Experts like Nate Geraci, president of ETF Store, believe this change will trigger a wave of potential ETF applications and approvals, with Geraci saying last year:
“I think everything is going well for the new administration to take office.”
ETF analyst Eric Balchunas commented on the Dogecoin ETF in an interview with The Block last November.
“Today's satire will be tomorrow's ETF. You might also ask yourself, 'Is DOGE a bridge too far?' And I say, let's see. I think someone will try it, why not? ”
Adding to the excitement surrounding the potential of a Dogecoin ETF, Osprey Funds yesterday filed multiple ETFs including Dogecoin, Trump Token, Solana, Ethereum, Bitcoin, XRP, and Bonk.
The Trump meme coin, launched less than a week ago, highlights a surprising development under the new administration.
As these unconventional applications surface within days of President Trump's inauguration, there is growing optimism that crypto products previously considered far-fetched could win approval.
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