SEC Extends Review of Bitwise Application

According to filings, the SEC has postponed its review of Bitwise’s Dogecoin ETF until November 12. The proposed ETF, if approved, would track the price of Dogecoin directly and allow investors to gain exposure to the asset without needing to hold DOGE themselves. Bitwise’s application was initially submitted in March and has already encountered previous delays.

The regulator’s latest extension underscores its tendency to use the full length of review periods rather than issuing early approvals or denials. The SEC has noted the importance of analyzing potential rule changes and inviting public comment before reaching a decision.

Other Dogecoin ETFs Moving Ahead

While Bitwise awaits regulatory clarity, REX Shares and Osprey Funds are taking a different route. Their Dogecoin ETF, operating under the Investment Company Act of 1940, is set to begin trading this week under the ticker DOJE. This approach allows the fund to launch without waiting for the same kind of SEC approval required by Bitwise’s spot ETF filing.

DOJE will give investors exposure to Dogecoin through a Cayman Islands subsidiary. Analysts have pointed out that this could mark the beginning of what some are calling a “memecoin ETF era”, where structured investment products tied to cryptocurrencies without inherent utility reach mainstream markets.

Verwandte lesen: Analyst Predicts Active Memecoin ETF Launch

Wider Context for Crypto ETF Applications

The delay for the Bitwise DOGE ETF is part of a larger backlog at the SEC. As of late August, over 90 crypto-related ETF applications were pending review, covering assets such as Solana, XRP, Litecoin, and Avalanche. Regulators have consistently extended deadlines across multiple filings, reflecting a deliberate pace in evaluating the risks and market implications of altcoin ETFs.

In addition to Bitwise’s Dogecoin proposal, the SEC also postponed a decision on Grayscale’s Hedera ETF, giving both applications the same November deadline. This mirrors a broader trend in which applications are rarely decided upon early, leaving issuers and investors waiting for regulatory certainty.

Mehr erfahren: So kaufen Sie Dogecoin ($DOGE)

What the Delay Means Going Forward

The SEC’s decision to delay the Bitwise DOGE ETF filing highlights the ongoing regulatory caution surrounding altcoin-based funds. While other issuers like REX Shares and Osprey Funds are moving forward with their Dogecoin ETF under a different structure, Bitwise’s application remains in review until at least November. The outcome will not only affect Dogecoin investors but also signal how regulators intend to handle the growing wave of crypto ETF applications. For now, the Bitwise DOGE ETF remains on hold, awaiting further evaluation.