Cryptocurrency index fund manager BitwiseDogecoin $0.363484 Filed for registration in Delaware for the purpose of creating an exchange-traded fund (ETF) based on (DOGE). Company’s Chief Investment Officer Matt Houganconfirmed the development in his statement to The Block, saying, “Yes, this application belongs to us.” The registration application was filed with the Delaware State Department of Institutions.
ETF Demands Increased for Dogecoin
Created as a joke by Markus and Jackson Palmer in 2013 dogecoinhas been attracting great attention lately. In particular, the use of the Dogecoin logo on its official website by the Department of Government Efficiency (DOGE), established under the leadership of US President Donald Trump, drew attention to the altcoin again.
Considering Dogecoin’s popularity and market capitalization, many experts thought that such an ETF application was long overdue. ETF Store President Nate GercaiIn his post on January 15, he said, “It is surprising that the Dogecoin ETF application has not been made until today. At worst, it’s a marketing expense. At best, the SEC will approve this application and Elon Musk“With the support of , it is possible for it to become a great success,” he said.
New Cryptocurrency ETFs are on the Way
Bloomberg senior ETF analyst Eric BalchunasHe stated that it is possible for memecoins such as Dogecoin to turn into financial products. “Today’s joke could be tomorrow’s ETF. “Dogecoin may seem like a step too much, but it doesn’t hurt to try,” he said.
Bitwise’s move follows companies like Osprey Funds and Rex Shares. ETF It took place simultaneously with their applications. Besides that US Securities and Exchange CommissionIt was announced that (SEC) has established a new cryptocurrency task force under the leadership of Hester Peirce. 21Shares Crypto Research Strategist Matt Mena“New task force DOGE “It could accelerate the approval of various cryptocurrency ETFs, including cryptocurrency ETFs,” he said.
At the time of writing, DOGE’s market price was trading just above the $0.35 level, down 4.44 percent in the last 24 hours. Popular altcoin‘s market value is around 54 billion dollars.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
