Bitwise starts 20-day countdown for spot Dogecoin ETF

Bitwise Asset Management has withdrawn the delaying amendment from its registration statement for a spot Dogecoin ETF, triggering a 20-day clock under Section 8(a) of the Securities Act. 

Unless the Securities and Exchange Commission takes action during that window, the filing can become effective automatically. The fund is slated to list on NYSE Arca.

The ETF would hold DOGE directly. Coinbase Custody is named to safeguard the tokens in cold storage, while BNY Mellon would handle cash. The fund intends to track the CF Dogecoin-Dollar US Settlement Price. Shares would be created and redeemed in cash.

Because creations and redemptions can be in-kind or cash, primary-market arbitrage may rely on on-chain DOGE transfers or DOGE/USD liquidity. Authorized participants may hedge with perpetuals or spot until settlement, which can widen spreads during volatility.

Other applicants are using the same route. Grayscale has amended paperwork for a spot Dogecoin product that initiates a similar countdown. In recent weeks, single-asset crypto funds tied to Solana, Litecoin and Hedera have launched in the U.S., expanding the range of exchange-traded crypto exposure.

Dogecoin has traded lower in recent weeks, sliding from a September peak of $0.297 to about $0.165 at its lowest point, based on figures referenced in filings and related materials. Any launch window would depend on the statutory period and any SEC response.

As GNCrypto wrote previously, the SEC adopted rule changes allowing NYSE, Nasdaq and Cboe to list certain crypto ETFs, including spot products, through an expedited 75-day process rather than the prior two-track reviews that often took more than six months. The reforms opened the door to assets such as Solana, XRP and Dogecoin.