Bitwise Asset Management has registered a Dogecoin ETF entity in Delaware, a move that could open future exchange-traded funds focused on the industry’s pioneering meme coin.
The asset management firm registered “BITWISE DOGECOIN ETF” as a legal trust through CSC Delaware Trust Company in Wilmington, according to a filing on Wednesday.
A source familiar with the matter confirmed this Declutter by phone that Bitwise is working on a Dogecoin ETF, although details about its progress are scarce and confidential for now.
Observers note that the Delaware registration represents only a first administrative step toward what could be an ETF launch.
“This is just a registration for a trust. Assuming it’s real […] it is still not an official ETF filing with the SEC,” said Bloomberg Senior Analyst James Seyffart wrote on X.
Seyffart’s statements indicate that the Delaware filing is preliminary in nature. Despite its legitimacy, the filing could be misinterpreted as an ETF proposal.
A Delaware legal trust serves as a legal framework that allows companies like Bitwise to launch investment products such as ETFs.
A registered trust provides a company with tax benefits, provides clear governance, and separates any potential ETF assets from the company’s other business activities.
In this case, Bitwise would still have to file an extensive filing with the SEC before any potential product could come to market.
Bitwise, which manages more than $12 billion in crypto assets, has positioned itself and its products as an avenue for institutional crypto adoption.
The company has previously expressed interest in expanding its ETF offerings beyond the major cryptocurrencies. In October 2024, Bitwise moved to combine its Bitcoin and Ethereum ETF offerings. The company had already done so in November of the same year submitted for a Solana ETF.
The Delaware registration follows similar preparatory steps as before previous crypto ETF applications. Asset managers typically secure corporate entities prior to formal SEC filings.
The timing also coincides with increased institutional interest in cryptocurrency exposure through regulated products. Several asset managers have applied for various crypto-related ETFs in recent weeks.
VanEck submitted for an “onchain economy” ETF on January 15, while “protected” Bitcoin ETFs also received the green light from the Securities and Exchange Commission for trading this week.
Edited by Sebastian Sinclair
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