Bitwise Spot Dogecoin ETF Launching in November

Sean Williams
Dogecoin (DOGE)

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  • Bitwise’s spot DOGE ETF ticker is BWOW; listing planned on NYSE Arca by November-end.
  • Management fee of 0.34% waived for the first month on up to $500M in holdings.
  • DOGE price climbs 1.3% as markets react to the ETF news and futures buying rises.

Bitwise Asset Management is gearing up to launch its spot Dogecoin (DOGE) ETF, having filed a fourth amendment with the U.S. Securities and Exchange Commission (SEC). The updated S-1 filing outlines critical details, including the ETF’s ticker, fees, and custodian arrangements. The ETF will track the CF Dogecoin-Dollar US Settlement Price Index, offering investors direct exposure to the spot price of DOGE.

The proposed ticker for the fund is BWOW, with plans to list on NYSE Arca by the end of November. Coinbase Custody will hold DOGE tokens, while BNY Mellon manages the cash holdings. Bitwise itself is taking part as a seed capital investor, purchasing initial shares valued at $2.5 million.

Fee Waiver to Boost Early Adoption

The Bitwise Dogecoin ETF will charge a management fee of 0.34%, but the company will waive this fee for the first month on up to $500 million in holdings. Bloomberg ETF analyst Eric Balchunas highlighted the significance of the 8(a) filing, explaining that the ETF could become auto-effective within 20 days unless regulatory intervention occurs. This suggests trading could begin quickly, even before a formal SEC approval.

Also Read: Elon Musk Sparks Dogecoin Buzz, But Traders Remain Cautious Amid Falling Open Interest

Market Response and DOGE Price Action

News of the upcoming ETF has already influenced the market. DOGE is currently trading around $0.166, marking a nearly 1.3% increase over the past 24 hours. Trading volume dipped slightly to $1.92 billion, reflecting cautious investor behavior. Derivatives markets also saw heightened DOGE buying, with futures open interest rising 2.3% to $1.40 billion in the last four hours, signaling growing anticipation for the ETF launch.

As the SEC’s November 12 deadline approaches, all eyes are on whether Bitwise’s spot Dogecoin ETF will get the green light. If approved—or if the 8(a) filing takes effect—the ETF could offer a new avenue for institutional and retail investors to gain exposure to DOGE, potentially reshaping market sentiment in the short term.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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