NYSE Arca has submitted a proposal to the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Bitwise Dogecoin ETF. This represents a significant move to provide investors access to the popular memecoin through a regulated investment product.
Details of the NYSE Arca Filing
The exchange filed a 19b-4 rule change, seeking approval for the listing. If granted, the Bitwise Dogecoin ETF would offer investors direct exposure to Dogecoin without requiring them to hold it themselves. Coinbase is set to act as the fund’s crypto custodian, while Bank of New York Mellon will oversee cash custody, fund administration, and transfer operations.
Regulatory Reviews
The SEC is also assessing another Dogecoin-related investment product. On February 13, the agency acknowledged Grayscale’s application for its Grayscale Dogecoin Trust, beginning the path towards a regulatory review. The decision timeline suggests a potential deadline around mid-October for SEC approval or rejection.
Emerging Crypto ETFs on Other Exchanges
In a parallel development, Nasdaq is expanding its crypto offerings. On March 3, the exchange filed for approval to list and trade shares of the Grayscale Hedera Trust, which is designed to track HBAR, the native token of the Hedera Network. This follows a similar filing for another Hedera-related ETF from Canary Capital in late February.
If approved, the Bitwise Dogecoin ETF would be among the first U.S.-listed memecoin funds, offering institutional and retail investors regulated access to Dogecoin.
