Bitwise Asset Management filed an official application to the US Securities and Stock Exchange Commission (SEC) on Tuesday for Diecoin Stock Exchange Investment Fund (ETF). Last week, the application of the Dogecoin ETF by Rex Shares attracted attention. In other words, Bitwise’s largest breast CoinCoin -based ETF points to the second application for ETF.
ETF application for the biggest breast coin came from Bitwise
On January 28, the asset manager presented a S-1 form to the SEC to start a Dogecoin ETF. This application arrived shortly after his previous application to install a Dogecoin ETF through a Delaware Trress. Bloomberg analyst James Seyffart said in a statement on X (formerly twitter), “We knew it would happen because they applied to register for a trust last week. But this has given SEC officially. ”
With this move, Bitwise recently joined Rex Shares, who recently applied for ETF for multiple breast coins. These include Doge, Bonk (Bonk) and Donald Trump’s Trump Token. However, Bitwise has a feature of its application. Eric Balchunas, a senior ETF analyst in Bloomberg, underlined that the application was made within the scope of the 1933 Securities Law. According to the analyst, this is very important. Because the ETFs filed within the scope of the securities law in 1933 are physically supported, which means that they hold the basis of the basis (then Dogecoin). On the other hand, ETFs under the 1940 Investment Company Law have a different structure. Therefore, they do not have to include the direct ownership of the presence.
Coinbase was determined as the “Custody” institution
Bitwise also set the Coinbase Custody as a Custody organization for Spot Doge Etf. However, S-1 certain details are left out. Meanwhile, after Bitwise’s Dogecoin ETF application, the betting rates in the estimation platform Polymarket rose to a record level of 56 %in favor of approval. At the time of writing this article, the rates are at 55 %.
Bitwise’s move came in the midst of the increase in crypto money ETF applications. The company has already launched Spot Bitcoin (BTC) and Ethereum (ETH) ETFs. He also applied for Solana (left) and XRP (XRP) ETFs. With this, Kriptokoin.comAs we have reported, the proposal of Bitwise 10 crypto index funds is still waiting to be examined. This fund aims to follow the performance of the ten largest crypto currencies according to the market value. However, the SEC was extended to March 2025.
