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On March 3, NYSE Arca submitted a 19b-4 filing to the U.S. Securities and Exchange Commission (SEC), seeking approval to list and trade the Bitwise Dogecoin ETF, the largest meme coin by market cap. This move follows Bitwise’s S-1 registration filing with the SEC in late January, a significant step for the firm, which manages over $12 billion in client assets. The filing also comes shortly after a similar submission by Rex Shares, highlighting the growing interest in Dogecoin-based investment products. According to the SEC filing, the Bitwise Dogecoin ETF is designed to track the price of DOGE, allowing investors to gain exposure without directly holding or managing the asset. To ensure security, Coinbase Custody will serve as the official custodian, safeguarding the ETF’s Dogecoin holdings. Meanwhile, Bank of New York Mellon (BNY Mellon) will handle cash holdings, administration, and record-keeping functions. The ETF’s Net Asset Value (NAV) will be calculated daily using the CF Dogecoin-Dollar Settlement Price, ensuring it accurately reflects DOGE’s real-time market value. Structured as a Delaware statutory trust, the fund will be managed with Bitwise as the official sponsor. Additionally, the ETF will operate on a cash-based transaction model, meaning investors cannot deposit or withdraw Dogecoin directly; all purchases and redemptions will be settled in cash. The SEC’s review process for crypto ETFs typically unfolds in several stages. Once a 19b-4 filing is submitted, the commission has up to 240 days to approve, reject, or delay its decision. This follows a similar path to the Grayscale Dogecoin Trust , which was officially acknowledged by the SEC on February 13. This means the decision timeline is already in motion, and a final ruling on Bitwise’s DOGE ETF could arrive by mid-October 2025. The Dogecoin ETF filings have sparked excitement among investors, but DOGE’s price has not reacted positively in the short term. The cryptocurrency has seen an 11.71% drop in the last 24 hours, trading at $0.1939, reflecting broader market volatility and reduced trading activity. Over the past week, DOGE has slipped 2.80%, while its trading volume has dropped by 33.78%, settling at $2.67 billion. During Gary Gensler’s tenure as the SEC chair, the idea of a Dogecoin ETF would have seemed impossible to most asset managers. However, with pro-crypto policies gaining traction, regulatory attitudes appear to be shifting, making approval a real possibility. Despite the current downturn, CoinCodex predicts that Dogecoin’s price could surge by 235.91%, potentially reaching $0.6545 by April 3. While ETF approval could serve as a catalyst, the meme coin’s price history suggests that speculation, social media hype, and market conditions will all play a role in determining its future trajectory.

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The cryptocurrency market presented a mixed picture following a significant development: NYSE Arca, associated with the New York Stock Exchange, submitted a filing to the SEC to list a Bitwise Dogecoin ETF. While this exchange-traded fund could potentially offer both institutional and retail investors regulated access to Dogecoin, the immediate market reaction was unexpectedly negative. This juxtaposition of events is noteworthy. The ETF filing indicates a continuing interest in memecoins, even considering the inherent market volatility. Also, this filing aligns with a broader trend of financial institutions pursuing regulatory authorization for crypto-related investment products. Nevertheless, Dogecoin’s price experienced a downturn, contrasting with the anticipated bullish sentiment. NYSE Arca filed a 19b-4 form with the SEC on March 3, seeking approval to list and trade shares of the Bitwise Dogecoin ETF. The significance of this action lies in the potential for investors to gain exposure to Dogecoin through a regulated investment vehicle, without direct management of the underlying cryptocurrency. The ETF structure is based on cash creation and redemption, circumventing direct Dogecoin transactions. Coinbase will serve as the fund’s custodian for Dogecoin, while the Bank of New York Mellon will manage cash custody, transfer agency, and administrative functions. Related: Meme Coin Mania: Pepe (PEPE) Outperforms Dogecoin and Shiba Inu Moreover, Bitwise had already submitted an S-1 registration form in January, signaling its intent to launch the ETF. Consequently, approval of this ETF could mark a significant step toward mainstream adoption of memecoins in financial markets. In spite of the ETF filing, Dogecoin’s price dropped over 12%, falling to $0.193588 . This decline erased gains made following Donald Trump’s crypto reserve announcement on March 2. The overall cryptocurrency market also witnessed a decline, contributing to Dogecoin’s subdued performance. Additionally, the SEC is reviewing a separate Grayscale Dogecoin Trust application, with a potential decision expected by mid-October. Institutional interest in Dogecoin has increased, but market sentiment remains volatile. According to Coincodex analysis , Dogecoin is expected to trade between $0.253801 and $0.314466 by year-end. This projection suggests a 43.62% price appreciation from current levels, predicated on an average December price of $0.276116. Based on these forecasts, DOGE investors could potentially realize profits of 63.57%. The Bitwise Dogecoin ETF is part of a wider trend where issuers are seeking approval for various altcoin-based funds. On March 3, the Nasdaq filed a proposal with the SEC to list and trade shares of the Grayscale Hedera Trust, which will track the price of HBAR. Besides, Nasdaq previously submitted an application for a similar Hedera-based product from Canary Capital. Several other issuers have filed for ETFs tracking Cardano, Solana, Polkadot, Litecoin, and XRP. Related: Dogecoin ETF: Why Bitwise’s Matt Hougan Believes This Meme Coin Deserves a Spot This surge in applications follows a shift in regulatory stance, as authorities appear more open to crypto-based financial products. However, the SEC’s final decisions on these ETFs will significantly influence the market’s direction in the coming months. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

As the cryptocurrency market continues to evolve, investors are increasingly looking for ways to diversify their portfolios and gain exposure to the growing altcoin market. One popular option is altcoin ETFs (Exchange-Traded Funds), which allow investors to buy and sell a basket of altcoins through a single investment vehicle. Top Altcoin ETF Contenders,: Several altcoin ETFs have been launched in recent times, each with its unique features and investment strategies. Here are some of the top contenders: 1. VanEck Vectors Altcoin ETF (ALT): This ETF tracks the MVIS CryptoCompare Altcoin Index, which includes a diversified basket of 10 altcoins, including Ethereum, Litecoin, and Bitcoin Cash. 2. Grayscale Altcoin Trust (GALT): This trust invests in a diversified portfolio of altcoins, with a focus on large-cap and mid-cap coins. 3. Bitwise 10 Index Fund (BITW): This fund tracks the Bitwise 10 Index, which includes the 10 largest cryptocurrencies by market capitalization, excluding Bitcoin. 4. 21Shares Altcoin ETP (AALT): This ETP (Exchange-Traded Product) tracks the 21Shares Altcoin Index, which includes a diversified basket of 10 altcoins. Which Altcoin ETF Has the Best Chance? While all the above-mentioned ETFs have their strengths and weaknesses, the VanEck Vectors Altcoin ETF (ALT) stands out as a top contender. Here's why: 1. Diversified Portfolio: The ALT ETF tracks a diversified basket of 10 altcoins, reducing the risk of individual coin volatility. 2. Established Track Record: VanEck is a well-established investment manager with a proven track record in the ETF space. 3. Low Fees: The ALT ETF has a relatively low management fee of 0.50% per annum. 4. Liquidity: The ALT ETF is listed on the NYSE Arca, providing investors with easy access to liquidity. While the altcoin ETF space is still evolving, the VanEck Vectors Altcoin ETF ($ALT ) stands out as a top contender due to its diversified portfolio, established track record, low fees, and liquidity. However, it's essential to remember that investing in altcoins carries inherent risks, and investors should always do their own research and consult with a financial advisor before making any investment decisions.

NYSE Arca proposes to list and trade the Bitwise Dogecoin ETF under its Commodity-Based Trust Shares Rule 8.201-E and has submitted the relevant rule change proposal.