In a significant development for the cryptocurrency sector, Bitwise Asset Management has officially submitted a registration application for a Dogecoin exchange-traded fund (ETF) in Delaware. This filing, made on January 22, 2025, is poised to attract attention as it coincides with a growing interest in digital assets, particularly memecoins like Dogecoin (DOGE) .
This initiative comes at a time when institutional demand for regulated crypto products is on the rise. The potential approval of the Bitwise Dogecoin ETF could open the floodgates for investment, similar to the substantial inflows seen with Bitcoin ETFs. Analysts are optimistic that if the ETF gains traction, it could significantly elevate DOGE’s market value, with some predicting prices could soar to as high as $15.
Despite the excitement surrounding the filing, Dogecoin’s price has recently faced volatility. Following the announcement, DOGE experienced a decline of approximately 5%, trading around $0.35. This downturn has surprised many investors, especially given the positive sentiment typically associated with ETF filings. However, experts suggest that this may be part of a broader profit-taking trend among traders following recent bullish developments in the market.
The timing of Bitwise’s application is particularly noteworthy as it aligns with Donald Trump’s renewed presidency and his administration’s promise to foster a more crypto-friendly regulatory environment. This shift contrasts sharply with the previous administration’s stringent oversight of digital assets.
As Bitwise navigates the regulatory landscape, it remains to be seen how this move will impact Dogecoin and the broader cryptocurrency market in the coming months.
