Breaking: Bitwise Goes All-In On Doge With New ETF Filing 🚀🚀🚀

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Oh, hello there! Have you heard the latest in the world of crypto? Bitwise, the crypto index fund manager, just submitted a registration filing for a potential Dogecoin ETF. Yes, you read that right! Dogecoin, the meme coin that’s taken the world by storm, might soon have its very own ETF. Can you believe it?!

And let me tell you, folks, this is no small feat. With Trump’s pro-crypto administration and a positive regulatory shift, there’s been a flood of ETF applications. Analysts are predicting even more applications and approvals in the near future. It’s like a crypto gold rush out there! 🥳

Bitwise Bets Big on Doge

On January 23, Bitwise officially submitted its registration to the Delaware Department of State’s Division of Corporations. And guess what? The filing was confirmed by none other than Matt Hougan, the Chief Investment Officer at Bitwise. Following the news, Dogecoin saw a sharp jump, reaching a high of $0.373 before settling at $0.36. Talk about making waves! 🌊

Now, here’s where things get interesting. President Trump has promised regulatory clarity and a crypto-friendly administration. And the appointment of Mark Uyeda as interim SEC Chair is a clear indication of the administration’s commitment to crypto regulation. It’s like they’re saying, “Bring on the crypto, baby!” 🎉

When Meme Coins Go Mainstream

Let’s not forget that Dogecoin is the OG meme coin, created back in 2013 by Billy Markus and Jackson Palmer. Recently, it’s been getting a lot of attention, especially after the establishment of the Department of Government Efficiency (DOGE) under Elon Musk. Many people thought it was just a matter of time before someone filed for a Dogecoin ETF. Well, guess what? Bitwise beat them to the punch! 🥊

“I remain shocked that no issuer has filed for Dogecoin ETF, 7th largest digital asset by market cap. Worst case, it’s a marketing expense for the issuer. Best case, you get an extremely lenient SEC who approves it, along with Elon touting it.” – Nate Gercai, President of ETF Store

Geraci believes that the change in administration and a friendlier approach to crypto will lead to a wave of applications and approvals. It’s like the floodgates are about to open! 🌊

“I think everything is on the table moving forward with the new administration.” – Nate Gercai

Even Bloomberg Senior ETF analyst Eric Balchunas chimed in, speculating about a Dogecoin ETF in November 2024. He said:

“Today’s satire is tomorrow’s ETF. You could ask yourself, ‘Is DOGE a bridge too far?’ and I would say we’ll see. I think someone’s gonna try it because why not.” – Eric Balchunas

More Crypto ETFs on the Horizon

Since Trump took office, the crypto space has been buzzing with excitement. Osprey Funds and Rex Shares have also submitted several ETF proposals, including one for a DOGE ETF. And get this, the SEC’s Hester Pierce is leading a crypto task force to draft a clear regulatory policy for crypto. Matt Mena, Crypto Research Strategist at 21Shares, thinks this could accelerate the approval of a wide range of crypto ETFs, including SOL, XRP, LTC, DOT, and yes, even DOGE. 🤑

“The newly established crypto task force, led by Commissioner Hester Peirce, could accelerate the approval of a broader range of crypto ETFs, including SOL, XRP, LTC, DOT, and DOGE.” – Matt Mena, Crypto Research Strategist at 21Shares

So, my fellow crypto enthusiasts, it looks like we’re in for a wild ride. Who knows what the future holds? But one thing’s for sure, Bitwise’s Dogecoin ETF filing has certainly stirred up the crypto pot. Stay tuned for more updates and exciting developments in the world of crypto! 🚀🚀🚀

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2025-01-23 19:07