Bitwise Asset Management Is Gearing Up to Submit a Dogecoin ETF Application to the SEC

Upon the news, Dogecoin's price surged 4% to $0.373 before settling at $0.36.

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Bitwise Asset Management appears to be preparing to file a Dogecoin ETF application with the SEC.

A Delaware corporate registration filing reveals the firm's intention to launch an exchange-traded fund linked to the popular meme coin.

The news briefly pushed Dogecoin up 4% to $0.373 before the token slid back to around $0.36.

The development comes at a crucial time for crypto regulation in the US.

President Donald Trump, sworn in on Monday as the 47th President, has promised a pro-crypto administration that will foster a more favorable regulatory environment.

The appointment of Mark Uyeda as interim SEC Chair further underscores the administration's commitment to reshaping crypto regulation.

On Thursday, Uyeda announced the formation of a new crypto task force to establish a clear framework for digital assets. The group will be led by Commissioner Hester Peirce.

Crypto ETF hopefuls may find some solace in this news, as several officials, including Uyeda, have expressed a desire to provide more clarity on the matter.

As ETF Store President Nate Geraci put it last year, “I think everything is on the table moving forward with the new administration.”

In an interview with The Block in November last year, ETF analyst Eric Balchunas had this to say about Dogecoin ETFs:output