DOGE News: Bitwise Files for Dogecoin ETF in Delaware

Bitwise, a leading crypto index fund manager, has taken a significant step towards launching a Dogecoin (DOGE) exchange-traded fund (ETF) by filing the necessary paperwork in Delaware. This development marks a pivotal moment for Dogecoin, as it could potentially gain broader institutional and retail investor exposure through an ETF.

Bitwise Fund Manager Files Dogecoin ETF in Delaware: Report

Bitwise, the largest crypto index fund manager, has reportedly filed for a Dogecoin (DOGE) exchange-traded fund (ETF) in Delaware. The company registered 'Bitwise Dogecoin ETF' as a statutory trust on Wednesday through Delaware’s Department of State’s Division of Corporations. The firm’s chief investment officer Matt Hougan confirmed the news with the Block. The move comes a day after US issuers REX Shares and Osprey Funds filed with the SEC to launch seven new cryptocurrency ETFs, including DOGE. 'This was from us,' said Matt Hougan, highlighting Bitwise’s first attempt to bring a DOGE-focused ETF into the regulated US market. However, the Delaware registration only represents an initial step toward what could be a Doge ETF launch by the SEC. 'This is just a registration for a trust. Assuming it’s real, it’s a preliminary step,' Hougan added.

AI Predicts DOGE Price If SEC Approves Dogecoin ETF

The cryptocurrency market is poised for significant changes with the introduction of new elements. Bitwise has applied to launch a Dogecoin ETF, which could be a game changer for the market if approved by the US SEC. This development could potentially drive the price of Dogecoin higher in the near future.

Dogecoin Eyes a Breakout: THIS Points to $0.50 Target

Dogecoin (DOGE) is currently trading at $0.3542, showing a 3.33% decline but with potential signs of a bullish breakout. Analysts have identified a falling wedge pattern on Dogecoin’s daily chart, which often signals an imminent price surge. The critical resistance level is at $0.39, and if Dogecoin manages to break out above this point, the next upward target is $0.50. However, weak transaction counts and declining MVRV ratios cast doubt on the breakout potential. The market is closely watching to see if the pattern holds true and drives Dogecoin’s price higher.