The world's most recognized memecoin is coming to the ETF umbrella

NYSE Arca has officially filed a 19b-4 request with the US Securities and Exchange Commission (SEC) seeking permission to list and trade the Bitwise Dogecoin ETF.

The world’s most recognized memecoin is reportedly set to come under the ETF umbrella.

NYSE Arca has officially filed a 19b-4 request with the U.S. Securities and Exchange Commission (SEC) seeking permission to list and trade the Bitwise Dogecoin ETF. If approved, the product would be one of the first U.S.-listed Dogecoin-focused exchange-traded funds, offering regulated access to a token that began as an internet parody but has evolved into a multibillion-dollar digital asset.

The New York Stock Exchange subsidiary submitted a formal proposal—known as a 19b-4—asking the SEC to consider rule changes that would allow for Bitwise’s ETF to be listed under NYSE Arca Rule 8.201-E, which governs Commodity-Based Trust Shares.

“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 reads.

Bitwise initially signaled its intentions in late January by filing an S-1 registration form with the SEC, detailing its plan to launch a Dogecoin ETF. Now, the 19b-4 filing is the next critical step, allowing the SEC to begin a formal review period.

One of the standout elements of Bitwise’s proposal is the institutional infrastructure in place. Coinbase Custody will serve as the custodian for the fund’s DOGE holdings, ensuring the cryptocurrency is securely managed. Meanwhile, the Bank of New York Mellon (BNY Mellon) will reportedly handle cash custody, administration, and record-keeping, tying the fund to traditional financial institutions.

The ETF is designed to use cash creations and redemptions, meaning investors will not be able to contribute or receive DOGE directly. According to the filing, the fund will track the price of Dogecoin using the CF Dogecoin-Dollar Settlement Price, a pricing benchmark that calculates a daily Net Asset Value (NAV) closely reflecting the token’s market value.

Bitwise is not the only firm applying for a Dogecoin ETF. Grayscale and Rex Shares have also submitted proposals for similar products. Notably, Grayscale’s DOGE ETF filing has already been acknowledged by the SEC, a key milestone in the approval process.

With Grayscale’s filing now acknowledged, the regulator has officially begun a countdown to review and make a decision, placing potential final decision window around mid-October.

As the SEC weighs these proposals, market observers have become increasingly optimistic that 2025 could see the approval of a Dogecoin ETF. According to prediction markets, the odds have climbed substantially in recent weeks.

Bloomberg analysts have also weighed in, suggesting the chance of any Dogecoin ETF approval could be as high as 75%.