- NYSE Arca filed a form 19b-4 for Bitwise Dogecoin ETF.
- SEC’s decision expected by mid-October 2025.
- Dogecoin price has dropped 15% to $0.19 despite the ETF optimism.
NYSE Arca has taken a bold step forward by filing to list the Bitwise Dogecoin ETF. On March 3, 2025, the exchange submitted a 19b-4 filing to the US Securities and Exchange Commission (SEC), a critical move that could bring a regulated Dogecoin investment product to market.
If the SEC gives its approval, this exchange-traded fund (ETF) would allow both institutional and retail investors to tap into Dogecoin’s potential without the complexities of directly owning the memecoin.
NYSE to partner with Coinbase and Bank of New York Mellon for the ETF
The Bitwise Dogecoin ETF aims to simplify crypto investing by offering a familiar structure for those accustomed to traditional markets.
Coinbase, a leading name in cryptocurrency, has been tapped as the custodian for the ETF’s Dogecoin holdings, ensuring secure management of the digital assets.
Meanwhile, the Bank of New York Mellon will oversee cash custody and administrative duties, lending further credibility to the proposal.
These partnerships underscore a growing convergence of traditional finance and the crypto space.
Market watchers are increasingly hopeful about the ETF’s chances of approval. Polymarket, a prediction platform, currently shows a 67% likelihood of the SEC greenlighting the product, while Bloomberg analysts are even more bullish, pegging the odds at 75% before the year’s end.
Despite this optimism, the SEC’s stance on cryptocurrency ETFs remains unpredictable, though the recent dropping of several cases, including the Kraken case, could signal a regulatory shift under President Donald Trump.
Alongside the Bitwise ETF, the SEC is also reviewing Grayscale’s Dogecoin Trust, with a decision expected by mid-October 2025. Approval of either product could mark a turning point, transforming Dogecoin from a meme-driven phenomenon into a legitimate investment vehicle. However, until the SEC weighs in, price swings are likely to persist, keeping investors on edge.
Also, the Dogecoin ETFs aren’t the only altcoin products vying for regulatory approval. Nasdaq also recently filed to list the Grayscale Hedera Trust, which would track the price of HBAR, Hedera’s native token. Simultaneously, the SEC is also evaluating ETF proposals for major altcoins like Cardano, Solana, Polkadot, Litecoin, and XRP.
This flurry of filings suggests that both memecoins and established altcoins are carving out a space in the regulated investment landscape, potentially broadening the appeal of crypto assets.
Dogecoin price slumps despite the ETF buzz
Interestingly, the filing hasn’t shielded Dogecoin from the current crypto market turbulence. The memecoin has shed over 15% of its value, sliding to $0.19 as broader crypto volatility took its toll.
Dogecoin’s trading volume has also dipped by 16.80%, signaling a lull in market activity.
This downturn, commensurate with the broader crypto market crash, erased gains sparked by excitement over President Donald Trump’s crypto reserve announcement, highlighting that ETF speculation alone isn’t enough to buoy Dogecoin’s price in a shaky market.
