NYSE Arca has submitted a proposal to the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the Bitwise Dogecoin Exchange-Traded Fund (ETF), marking a significant step toward bringing the popular memecoin into the regulated investment space.
The exchange recently 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.
Unlike spot Bitcoin ETFs that allow in-kind redemptions, the Bitwise Dogecoin ETF will operate using cash creations and redemptions, meaning investors will buy and sell shares with cash rather than exchanging Dogecoin directly. Bitwise had previously filed an S-1 registration statement with the SEC in January, outlining its plans for the fund.
If approved, this ETF would be among the first U.S.-listed memecoin funds, offering institutional and retail investors regulated access to Dogecoin.
The filing comes as the SEC is also evaluating another Dogecoin-related investment product. On February 13, the agency acknowledged Grayscale’s application for its Grayscale Dogecoin Trust, setting the stage for regulatory review. The decision timeline suggests a potential deadline around mid-October for SEC approval or rejection.
Similarly, on February 24, the SEC officially acknowledged NYSE Arca’s filing for a spot Cardano ETF. The regulator confirmed that it has begun reviewing the proposal to list and trade the Grayscale Cardano Trust shares under NYSE Arca Rule 8.201-E.
In a parallel development, Nasdaq has also moved to expand 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 Nasdaq filing for another Hedera-related ETF from Canary Capital in late February.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
