Bitwise signals a possible SEC file by registering the “BITWISE DOGECOIN ETF” entity in Delaware. DOGE price to shoot?
There are reports that Bitwise is about to file with the US Securities and Exchange Commission (SEC) after registering a legal organization for a Dogecoin ETF. The price of Dogecoin experienced a brief increase due to this development, reaching $0.373 before settling around $0.36 at the time of posting.
Bitwise Proceeds with Dogecoin ETF Submission
Bitwise has established a legal company called “BITWISE DOGECOIN ETF,” per data retrieved from the Delaware corporation registration website. Although this is not an official ETF filing with the SEC, it is likely a lead-up to one.
ETF registrations are typically completed after the legal framework has been established, which comes after Form S-1 has been filed with the SEC. Bitwise is expected to provide the required documents to market participants soon, and Dogecoin will join other digital assets that issuers have suggested for ETFs.
A Bloomberg ETF analyst, Eric Balchunas, affirmed this, saying, “This is real and not a market manipulation scheme.” If approved, a DOGE ETF may launch as early as April 2025, according to Balchunas’ estimates.
Whale Activity and DOGE Price Reaction
Dogecoin’s price increased little due to the registration news, peaking at 4% and trading at $0.373 before falling to $0.36. Institutional and retail investors have taken notice of this revelation, and if a formal ETF filing is completed, further price action is anticipated.
At the same time, as sentiment has improved, whale activity has increased. Sentiments research indicates that most holders had amassed 590 million DOGE tokens in the past day.
With much enthusiasm, Dogecoin’s icon has been featured on the recently established US Department of Government Efficiency website or D.O.G.E. It was established by executive order on January 20, 2025, not long after President Donald Trump took office.
Other technical analysts have also generated potential Dogecoin price forecasts. Trader Mikybull shared a chart showing a bullish flag formation that, if verified, may push DOGE to $2.
However, cryptocurrency researcher Ali Martinez expects the price to increase to $15 if a Dogecoin ETF is approved.
Increasing Interest in Crypto ETFs
The SEC has demonstrated a stronger willingness to allow funds tied to cryptocurrencies, which is why a Dogecoin ETF may be filed. The recent approval of Bitcoin and Ethereum ETFs indicates a change in regulatory perspectives.
Since former SEC Chair Gary Gensler resigned, the approval of spot bitcoin ETFs has been the subject of increased speculation. The momentum has been accelerated by the filing of a Dogecoin fund by Rex Osprey, an asset manager who manages $8 billion.
According to observers, a Dogecoin ETF would facilitate more straightforward access to the cryptocurrency for regular investors and boost institutional acceptance.
