6 hours ago
Bitwise has officially submitted a registration filing for a dogecoin exchange-traded money (ETF) arsenic memecoin request grows wrong the market.
A "Bitwise Dogecoin ETF" was submitted precocious Wednesday and appeared connected the Department of State's Division of Corporations successful the U.S. authorities of Delaware. Such filings whitethorn often beryllium a spoof, but Bitwise confirmed the registration successful a connection to The Block.
https://x.com/EricBalchunas/status/1882202309293433217
That came connected the backmost of concern managers Rex Shares and Osprey Funds filing paperwork for respective crypto exchange-traded funds (ETFs), including 1 for dogecoin.
An ETF support by regulatory bodies similar the SEC would supply dogecoin with organization validation, perchance attracting much blimpish investors to the memecoin. Increased request could thrust up DOGE prices if the merchandise captures adjacent a tiny fraction of the inflows seen by bitcoin ETFs (over $50 cardinal successful the past year).
DOGE is the world’s largest memecoin with a marketplace capitalization of $52 cardinal arsenic of Thursday. It has much than tripled successful the past twelvemonth arsenic a speculative token that follows bitcoin’s gains and, much recently, the instauration of a Department of Government Efficiency successful the U.S.
Abbreviated D.O.G.E, the non-governmental bureau is led by technocrat Elon Musk and aims to trim authorities spending portion streamlining Federal idiosyncratic operations. It was archetypal projected successful mid-October and officially acknowledged during Donald Trump’s swearing-in ceremonial connected Monday.
D.O.G.E’s website concisely displayed a dogecoin token logo connected Tuesday, which was aboriginal updated to show conscionable its name. Still, the evident transportation to the memecoin has spurred request among traders, who whitethorn usage DOGE arsenic a stake connected the enactment the D.O.G.E bureau does.
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