March 4, 2025
Investors Won’t Handle DOGE Directly
If approved, Coinbase will act as the Dogecoin custodian, while the Bank of New York Mellon will manage cash custody and administrative functions. The ETF will use cash creations and redemptions, meaning investors won’t handle Dogecoin directly.
Source: NYSE 19b-4
Bitwise filed an S-1 registration for the ETF with the U.S. SEC in January. If approved, this would be one of the first U.S.-listed meme coin ETFs, providing regulated access for institutional and retail investors.
Nasdaq Makes Its Move
DOGE fell over 15% to $0.19 on the day of the filing amid a broader market decline. The SEC is also reviewing Grayscale’s Dogecoin Trust, with a potential decision deadline in mid-October.
Meanwhile, Nasdaq filed a similar rule change to list the Grayscale Hedera Trust, which will track the price of HBAR. This follows other altcoin ETF filings, including for Cardano (ADA), Solana (SOL), Polkadot (DOT), Litecoin (LTC), and Ripple (XRP.
