- NYSE Arca filed a Form 19b-4 to list the Bitwise Dogecoin ETF
- SEC decision expected by mid-October 2025
- Dogecoin price has fallen about 15% to $0.19 despite ETF optimism
NYSE Arca has taken a significant step by filing to list the Bitwise Dogecoin exchange-traded fund (ETF). This filing represents a major move toward offering a regulated, familiar investment vehicle for exposure to Dogecoin without requiring direct ownership of the memecoin.
On March 3, 2025, the exchange submitted a 19b-4 form to the U.S. Securities and Exchange Commission (SEC), initiating the formal review process that could allow the proposed ETF to trade on a regulated exchange.
NYSE to partner with Coinbase and the Bank of New York Mellon for the ETF
The proposed Bitwise Dogecoin ETF is designed to mirror traditional ETF structures, making crypto exposure more accessible for both institutional and retail investors. Coinbase has been named as the custodian for the ETF’s Dogecoin holdings, responsible for secure custody of the digital assets. The Bank of New York Mellon will manage cash custody and administrative responsibilities, adding an extra layer of institutional credibility.
These partnerships reflect a broader trend of traditional finance firms working with crypto-native companies to create regulated products. Market sentiment has grown more optimistic: prediction platform Polymarket currently places the odds of SEC approval at roughly 67%, while some analysts have suggested even higher chances before the end of the year.
Despite rising expectations, the SEC’s approach to cryptocurrency ETFs remains uncertain. Recent developments, including the dropping of several enforcement cases, may signal a changing regulatory climate. The SEC is also reviewing related filings, including Grayscale’s Dogecoin Trust, with key decisions anticipated by mid-October 2025.
If approved, the Bitwise ETF—or an approved Grayscale product—could shift Dogecoin’s public perception, moving it closer to a mainstream investment asset rather than a purely memetic token. Until the SEC issues a formal ruling, however, price volatility and speculative swings are likely to continue.
The Bitwise and Grayscale filings are part of a larger wave of applications for crypto ETFs. Nasdaq has filed to list a Grayscale Hedera Trust tracking HBAR, and the SEC is evaluating proposals tied to several major altcoins, including Cardano, Solana, Polkadot, Litecoin, and XRP. This surge in filings indicates growing interest from issuers and investors in regulated crypto products across both memecoins and established altcoins.
Dogecoin price slumps despite ETF buzz
Even with the ETF filing news, Dogecoin has not been immune to broader market pressures. The memecoin has declined roughly 15% to about $0.19 amid wider crypto market volatility. Trading volume for Dogecoin has also decreased, reflecting a temporary slowdown in market activity.
This pullback wiped out gains that had earlier followed announcements tied to U.S. political developments, illustrating that ETF speculation alone may not sustain price momentum during periods of market stress. Investors remain watchful as regulatory decisions and overall market sentiment continue to drive short-term price movements.