Bitwise Dogecoin ETF Under SEC Scrutiny Following NYSE Arca Filing

NYSE Arca has officially filed a 19b-4 notification with the U.S. Securities and Exchange Commission (SEC) to propose the listing and trading of a Dogecoin (DOGE) exchange-traded fund (ETF) managed by Bitwise.

NYSE Arca’s Filing for Bitwise Dogecoin ETF

This recent filing comes more than a month after Bitwise submitted an S-1 registration statement to the SEC regarding the ETF.

“According to Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4, NYSE Arca proposes to list and trade Bitwise’s Dogecoin ETF shares under NYSE Arca Rule 8.201-E (Commodity-Based Trust Shares),” as stated in the official filing.

The ETF is expected to primarily hold Dogecoin and will calculate its Net Asset Value (NAV) daily, relying on the CF Dogecoin-Dollar Settlement Price, ensuring that the ETF’s market value aligns closely with Dogecoin's trading price.

In addition to Bitwise, other firms like Grayscale and Rex Shares have also filed proposals for Dogecoin ETFs. Notably, Grayscale’s proposal has progressed further in the approval process, with SEC acknowledgment already received.

Investor sentiment surrounding the approval of a Dogecoin ETF in 2025 is notably optimistic. According to recent predictions from Polymarket, the likelihood of approval is now at 67%, which is a significant rise from 55% just a day earlier.

This rising optimism is echoed by analysts from Bloomberg, who predict a 75% chance of receiving regulatory approval this year. While a final decision remains uncertain, the increasing probabilities indicate a shift in investor confidence toward a regulated Dogecoin ETF.

The significance of this proposal is evident; Dogecoin started as a lighthearted cryptocurrency in 2013 but has evolved into the leading meme coin, currently boasting a market capitalization exceeding $28 billion.

Despite this positive development, broader economic factors continue to impact DOGE's market performance adversely.

At the moment, Dogecoin’s trading price stands at $0.19, reflecting a 15.79% decline within the last 24 hours. Trading volume has also dipped by 16.80%, suggesting a slowdown in market activity amidst the ETF speculation.