Bitwise, a big name in asset management, just filed to launch a Dogecoin ETF (exchange-traded fund) in Delaware. This could be a game-changer for Dogecoin and the crypto world in general.
Trump’s Impact on Crypto Regulation
The timing of this filing is interesting, given that Trump is back in office. He’s been much more positive about crypto than the Biden administration. Remember all the uncertainty and tough regulations under Biden’s SEC chair, Gary Gensler? Trump’s approach is expected to be friendlier towards crypto, potentially making it easier for coins like Dogecoin to get into ETFs. This is backed up by recent appointments to regulatory agencies and the creation of a White House crypto council.
Bitwise’s Move and the Broader Crypto ETF Market
Bitwise isn’t alone in trying to create crypto ETFs. Successful Bitcoin and Ethereum ETFs last year showed there’s a real appetite for this kind of investment. Bitwise is also aiming for ETFs on XRP and Solana. Other companies are looking at Litecoin, Hedera, and even other memecoins like TRUMP and BONK.
Dogecoin’s Price Reaction (So Far)
Interestingly, the price of Dogecoin hasn’t jumped wildly after the Bitwise news. It’s actually down slightly. This shows that while the ETF filing is good news long-term, traders aren’t immediately hyped. However, if the ETF gets approved, we could see a big price increase for Dogecoin.
