Pakinomist — Bitwise, a cryptocurrency asset manager, recently filed an application with Delaware’s Department of State: Division of Corporations seeking to register a Dogecoin-based exchange-traded fund (ETF).
a digital currency widely recognized as the leading memecoin boasts a market cap close to $52 billion. Memecoins have gained increased attention recently, following the successful introduction and subsequent rise of the official Trump memecoin, launched by former President Donald Trump, which has seen an increase of over 1056% since its launch last Friday.
Billionaire entrepreneur Elon Musk is a well-known proponent of Dogecoin. He has even chosen to name the new Department of Government Efficiency (DOGE) that he oversees after the popular memecoin.
The application of Bitwise to the Dogecoin ETF is the latest development in the growing interplay between traditional financial and cryptocurrency markets. However, it should be noted that the application is only the first step in a potentially lengthy regulatory process, and the approval of a Dogecoin ETF is not guaranteed.
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