The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Bitwise’s proposed Dogecoin exchange-traded fund (ETF), which was first filed in January. Bitwise, a leading cryptocurrency index fund manager, aims to provide investors direct exposure to Dogecoin, the top meme coin by market cap. While the delay has raised speculation, it falls within the typical 240-day review period, meaning rejection is not guaranteed.
Grayscale, another major digital asset manager, has also filed for a Dogecoin ETF, signaling rising institutional interest in the meme-inspired cryptocurrency. Despite the SEC’s cautious approach, Dogecoin is holding strong in the market. At press time, DOGE is up 0.8%, with a market capitalization of $4.25 billion, outperforming Bitcoin on the day.
In a major development for crypto investors, the first Dogecoin ETF will officially launch on September 11. The Rex-Osprey DOGE ETF (ticker: DOJE) marks a key milestone for institutional adoption of Dogecoin. However, unlike traditional spot ETFs, DOJE will not provide direct exposure to DOGE itself. Instead, it uses a 40 Act structure, offering exposure through a Cayman Islands-based subsidiary holding Dogecoin via various instruments. This method allows Rex-Osprey to bypass the standard SEC approval process. A similar approach was used earlier this year for a Solana ETF, also launched by Rex-Osprey.
The upcoming DOGE ETF launch is already driving optimism, with traders seeing it as a gateway for broader adoption of meme coins in traditional finance. For investors, this represents a step toward greater legitimacy for Dogecoin, long regarded as a speculative asset. With growing institutional interest and innovative ETF structures, DOGE’s resilience continues to stand out in the crypto market.
