Bitwise plans to launch the ETF $ DOGE. Doge enthusiasts could benefit from this development.
Let’s see what it means, Doge’s performances and enthusiasm surrounding Doge Etf.
What’s going on?
According to James Seyffart, an ETF expert from Bloomberg, Bitwise created a trust in Delaware called “Bitwise Dogecoin Etf”. This is a common configuration for asset managers who prepare to launch ETF. Although this does not guarantee an immediate deposit with the American sec, this indicates that the race for the creation of cryptographic ETF is intensifying – and Dogecoin is part of the action.
The ETF Bitwise Doge will probably be available soon … And yes, I checked and it is completely legitimate (against a stupid work which commits a counterfeit for a quick pump at the BlackRock XRP this time). pic.twitter.com/mxoswd0ify
– Éric Balchunas (@ericbalchunas) January 22, 2025
But Bitwise is not the only actor in town. Rex Shares made his request to the dry for Doge alongside an ETF proposed presenting the ETF on the theme of Trump. Rex Shares has developed a format that implies that ETF DOGE will arrive on the market earlier than ETF Ripple XRP, Solana or Litecoin. The structure is used to shorten and simplify the regulatory approval procedure.
Good point on the deposit of the ETF Doge/Trump, these are deposits under law 40 and therefore (theoretically, if they are not disapproved) could arrive on the market in early April (75 days after the Deposit) and beat the ETF XRP, Solana, Litecoin. In British Columbia, they must file forms 19B-4 which have a 240-day clock.…
– Éric Balchunas (@ericbalchunas) January 21, 2025
How do Doge keep it?
Despite the buzz of the ETF, the price of the Doge has not seem very good lately. He dropped approximately 9.7% in last week, according to CoinmarketCap. However, on a more positive note, Doge’s daily graphic always shows an upward trend, the bouncing prices on the key support of the trend line close to $ 0.30.
If this support is maintained, DOGE could climb up to $ 0.45. But if it breaks, $ 0.30 will be the critical level to monitor. Exchange volumes have slowed down, which generally means that sellers run out of steam. In addition, indicators such as the relative Strength Index (RSI) suggest that a certain positive dynamic could still be at stake.
Just in: Bitwise Dogecoin files $ DOGE FNB.
– watcher.guru (@watcherguru) January 22, 2025
Conclusion
Bitwise’s decision to file an ETF $ DOGE shows how the cryptography market reflects the growing popularity of the same. Doge enthusiasts should follow both the price movements of cryptocurrencies and the evolution of the approval of these ETFs, because these events promise an exciting future.
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