Efforts to launch a spot Dogecoin exchange-traded fund (ETF) appear to be gaining momentum as issuers intensify engagement with U.S. regulators, raising market optimism for eventual approval.
In recently amended filings, Bitwise Asset Management has updated its application with the U.S. Securities and Exchange Commission (SEC) for a proposed spot Dogecoin ETF alongside its separate Aptos (APT) ETF bid. Bitwise, which first filed for the Dogecoin product in January, made these amendments following ongoing discussions with the SEC, which recently postponed its decision to allow further evaluation of whether the fund meets regulatory standards.
A major addition to the revised proposal is the inclusion of an “in-kind” creation and redemption mechanism, enabling ETF shares to be directly exchanged for the underlying Dogecoin asset. This structural shift is expected to enhance tax efficiency and reduce market impact compared to cash-based processes. Bloomberg ETF analyst Eric Balchunas described the update as “huge,” suggesting it sets a favourable precedent that could become standard for future crypto ETFs.
Earlier this month, fellow Bloomberg analyst James Seyffart placed the odds of Dogecoin ETF approval at 80%, with the intensifying dialogue between issuers and regulators bolstering confidence in a positive outcome. Other asset managers, including Grayscale and 21Shares, are also vying for a spot in Dogecoin ETF approval, while Bitwise remains the sole applicant for an Aptos-based fund. On April 9, 21Shares submitted a Form S-1 registration statement outlining the plans for the 21Shares Dogecoin ETF.
Notably, The U.S. SEC pushed back its decision on multiple high-profile cryptocurrency ETF proposals, including Bitwise’s bid to incorporate Ether staking and Grayscale’s plan to launch an XRP ETF. The delays, announced on May 20, were anticipated by industry analysts who noted the regulator’s tendency to exhaust its review timelines.
The SEC continues to assess a growing slate of spot altcoin ETF proposals, reflecting deepening institutional interest in broader crypto investment products.
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.”
