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NYSE has filed a proposed rule change to record and commerce shares of Bitwise Asset Administration’s Dogecoin ETF (exchange-traded fund).
The 19b-4 submitting was submitted on March. 3 to the US Securities and Alternate Fee (SEC). If authorized, it’ll permit the NYSE Arca to record the DOGE-based fund and supply each retail and institutional traders direct publicity to the most important meme coin by market cap.
Bitwise Dogecoin ETF May Develop into One Of The First Meme Coin-Targeted US Funding Funds
Yesterday’s submitting by NYSE Arca comes after Bitwise filed an S-1 registration type for the fund with the SEC in direction of the tip of January this 12 months.
JUST IN: Bitwise has filed for a spot Dogecoin $DOGE ETF.
63% probability it is authorized this 12 months. pic.twitter.com/xSv1n5MR1q
— Polymarket (@Polymarket) March 3, 2025
Based on the submitting, main US crypto trade Coinbase will act because the custodian for the proposed Dogecoin ETF. In the meantime, the Financial institution of New York Mellon shall be chargeable for money custody, administration and switch company capabilities.
Ought to the fund get the inexperienced gentle, Bitwise’s Dogecoin ETF would develop into one of many first meme coin-centric US funding funds.
Timeline For The SEC To Ship A Choice On A Dogecoin ETF Has Already Began
NYSE Arca’s submitting for a proposed rule change comes after the SEC acknowledged Grayscale’s filings for its Dogecoin Belief on Feb. 13. This acknowledgement began the timeline for the regulator to ship a call, with a possible deadline across the center of October.
From a worth perspective, DOGE barely reacted to the current submitting by NYSE Arca. Within the hours that adopted the trade’s submitting, the crypto market underwent a steep correction.
Dogecoin took a greater than 12% hit within the final 24 hours, bringing its worth all the way down to $0.1921 as of two:07 a.m. EST. This steep pullback was sufficient to push the meme coin’s weekly efficiency to over 7% within the pink as effectively, in accordance with CoinMarketCap.
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