NYSE Arca Files Form 19b-4 for Bitwise Dogecoin ETF
- SEC’s decision expected by mid-October 2025
- Dogecoin price drops 15% to $0.19 despite ETF optimism
NYSE Arca has made a significant move by filing to list the Bitwise Dogecoin ETF. The exchange submitted a 19b-4 filing to the US Securities and Exchange Commission (SEC) on March 3, 2025, which could potentially bring a regulated Dogecoin investment product to the market.
Partnerships with Coinbase and Bank of New York Mellon
The Bitwise Dogecoin ETF aims to simplify crypto investing by providing a familiar structure for traditional market investors. Coinbase will act as the custodian for the ETF’s Dogecoin holdings, ensuring secure management of digital assets. Additionally, the Bank of New York Mellon will oversee cash custody and administrative duties, adding credibility to the proposal and highlighting the convergence of traditional finance and the crypto space.
Market analysts are optimistic about the ETF’s approval chances, with Polymarket showing a 67% likelihood of SEC approval and Bloomberg analysts estimating the odds at 75% before the end of the year.
Dogecoin Price Slumps Amid ETF Excitement
Despite the buzz surrounding the ETF filing, Dogecoin has experienced a 15% drop in price, falling to $0.19 amidst broader crypto market volatility. The decrease in trading volume also indicates a slowdown in market activity, emphasizing that ETF speculation alone may not be sufficient to support Dogecoin’s price in a volatile market.
While the SEC is reviewing other altcoin products like Grayscale’s Dogecoin Trust, the potential approval of these products could transform Dogecoin from a meme-driven phenomenon into a legitimate investment option. However, until the SEC makes a decision, price fluctuations are expected to continue, keeping investors cautious.
Altcoin ETFs and Regulatory Landscape
Aside from Dogecoin ETFs, other altcoin products are seeking regulatory approval, including the Grayscale Hedera Trust and ETF proposals for altcoins like Cardano, Solana, Polkadot, Litecoin, and XRP. This trend indicates a growing presence of both memecoins and established altcoins in the regulated investment landscape, expanding the appeal of crypto assets to a wider audience.