NYSE Arca Files 19b-4 for Bitwise Dogecoin ETF

NYSE Arca has submitted a 19b-4 filing with the US Securities and Exchange Commission (SEC) to list and trade a Dogecoin (DOGE) exchange-traded fund (ETF) from Bitwise.

NYSE Arca has submitted a 19b-4 filing with the US Securities and Exchange Commission (SEC) to list and trade a Dogecoin (DOGE) exchange-traded fund (ETF) from Bitwise.

According to the filing, Coinbase Custody will act as the custodian. Meanwhile, the Bank of New York Mellon (BNY Mellon) will manage the cash holdings, administration, and record-keeping.

The 19b-4 filing for the Dogecoin ETF comes over a month after Bitwise filed an S-1 with the SEC.

“Pursuant to the provisions of Section 19(b)(1) of the Securities Exchange Act of 1934, as amended (the “Act” or “’34 Act”) and Rule 19b-4 thereunder, NYSE Arca, Inc.(“NYSE Arca” or “Exchange”), proposes to list and trade shares of the Bitwise Dogecoin ETF (the “Trust”) under NYSE Arca Rule 8.201-E (Commodity-Based Trust Shares),” the filing read.

As the 19-b details, the proposed ETF will hold Dogecoin as its main asset and will determine its Net Asset Value (NAV) daily using the CF Dogecoin-Dollar Settlement Price, a standard pricing benchmark. This means the ETF’s value will closely track the market price of Dogecoin.

Other than Bitwise, Grayscale and Rex Shares have filed for a DOGE ETF. Notably, Grayscale’s Dogecoin ETF proposal is further along in the regulatory process, as the SEC has already acknowledged its filing.

Meanwhile, market sentiment toward a Dogecoin ETF approval in 2025 is turning increasingly optimistic. The latest data from the prediction platform Polymarket indicated a 67% chance of approval, a substantial increase from 55% just a day earlier.

This growing confidence is further highlighted by Bloomberg analysts, who have predicted a 75% chance of approval this year. While approval is not guaranteed and could be delayed, the increasing odds suggest that investor sentiment is shifting in favor of seeing a regulated Dogecoin ETF launch later in 2025.

This development marks a significant milestone for Dogecoin, a cryptocurrency originally launched as a joke in 2013. It has since become the top meme coin, currently boasting a market capitalization of over $28 billion.

However, despite the bullish narrative surrounding the Dogecoin ETF and the increasing likelihood of its approval, broader macroeconomic conditions have significantly impacted DOGE’s price.

At the time of press, the meme coin was trading at $0.19, showing a 15.79% price decrease over the past 24 hours. Trading volume also took a hit, indicating a 16.80% reduction in market activity.