Plans to launch a Dogecoin ETF.

Bitwise Asset Management has announced that it is ready to file a formal application with the Securities and Exchange Commission (SEC) to create a Dogecoin exchange-traded fund (ETF).

Corporate filings in Delaware have shown strong signs of the application.

Following the announcement, Dogecoin’s price surged 4% to $0.373 before settling at $0.36.

Trump Administration and Crypto Support:

President Donald Trump was sworn in as the 47th president of the United States, promising a pro-crypto administration and a more open regulatory framework.

The appointment of Mark Ueda as interim SEC chairman underscores this trend, along with the formation of a task force led by Commissioner Hester Peirce to develop a clear regulatory framework for digital assets.

Analysts like Nate Geraci and Eric Balchunas have suggested that the policy shifts could open the door to a new wave of ETF applications.

With Osprey Funds filing multiple applications including Dogecoin, Trump’s digital currency, Solana, Bitcoin, and Ethereum, hopes are high for regulatory approvals for crypto products.

These developments are a pivotal moment, as they could mark the beginning of a new era in the regulation and adoption of digital assets in the US market.