SEC Delays Bitwise Dogecoin ETF Decision - First DOGE ETF Launch Hangs in Balance

Regulatory hesitation throws cold water on crypto's meme king.

THE HOLD-UP

Just days before what would've been the first-ever Dogecoin ETF launch, the SEC slammed the brakes. No explanation, no revised timeline—just radio silence that's got the entire crypto space buzzing.

WHAT'S AT STAKE

Billions in potential institutional investment now hang in limbo. Traders who positioned for a green light got left holding the bag—another classic case of regulators moving at bureaucratic speed while markets move at light speed.

THE BIGGER PICTURE

This isn't just about DOGE. It's a test case for how regulators handle crypto's blurring line between asset and internet joke. Approval could legitimize meme coins forever; rejection might confirm what skeptics always said—you can't ETF a meme.

Wall Street's probably relieved—nothing threatens traditional finance like an asset that actually has a sense of humor.

TLDR

• SEC extended the Bitwise Dogecoin ETF decision to November 12, 2025.
• The ETF could become the first U.S.-approved Dogecoin investment fund.
• DOGE has risen over 150% compared to one year ago, despite recent market swings.
• Bitwise claims Dogecoin’s liquidity and user base support its ETF readiness.

The U.S. Securities and Exchange Commission (SEC) has extended its review of the Bitwise Dogecoin ETF proposal. The new decision deadline is now set for November 12, 2025, postponing a final ruling on what could become the first U.S.-listed Dogecoin exchange-traded fund.

Bitwise submitted its proposal through NYSE Arca, aiming to offer a dogecoin ETF under commodity trust rules. While the original deadline was in June 2025, the SEC launched formal proceedings in June, adding 180 days of review. That review would have ended in mid-September, but the SEC extended it by another 60 days.

SEC Cites Public Comments and Ongoing Review

The SEC stated the delay was necessary to allow more time to analyze the proposal and review public feedback. According to the official filing, several responses raised questions about Dogecoin’s volatility, liquidity, and vulnerability to price manipulation.

The proposal was first filed in March 2025, and since then, investors and market observers have watched closely. Many public comments echoed earlier concerns voiced during Grayscale’s attempt to register a Dogecoin ETF.

The SEC has taken a cautious approach to cryptocurrency ETFs in the past. It rejected several applications over the years, only approving the first spot Bitcoin ETF in early 2024. A spot Ethereum ETF followed later after extensive review and debate.

Bitwise Markets DOGE ETF as Community-Driven Asset

Bitwise has promoted the ETF as a new way for investors to gain exposure to Dogecoin. The company said Dogecoin has high trading volume and a broad user base that supports its case as a potential investment vehicle.

“Dogecoin’s liquidity, community interest, and established presence in crypto markets support its readiness for an ETF,” Bitwise stated in its filings. The firm believes a regulated DOGE ETF can expand investor choice and offer more regulated access to crypto assets.

The ETF WOULD track the market price of Dogecoin and allow investors to buy shares on a traditional stock exchange, without holding the actual token. Bitwise is one of several digital asset firms aiming to bring crypto ETFs to mainstream financial markets.

If approved, this fund would become the first U.S.-based ETF focused solely on a meme cryptocurrency. Bloomberg analyst Eric Balchunas has predicted the launch of the first Doge ETF could still take place on September 11, 2025, though SEC approval remains pending.

DOGE Price Holds Steady Despite Regulatory Delay

Despite the extended review, Dogecoin has shown limited reaction to the news. As of the latest update, the token is trading at around $0.2407, down just 0.38% for the day. Over the past seven days, DOGE has gained over 14%.

In the last six months, Dogecoin’s price has increased by almost 40%. Compared to the same time last year, it has surged more than 150%. However, the coin remains known for sudden price swings and remains about 24% lower than its peak in early 2025.

The upcoming months will be key for Dogecoin and other meme coins seeking ETF approval. The SEC’s final decision in November may set a path for future funds tied to alternative cryptocurrencies.