Dogecoin Up 4% on Bitwise ETF Filing Advance

Dogecoin's price climbed to around 0.18 on Tuesday, marking a roughly 4 percent increase in the past day, as optimism grew over a potential spot exchange-traded fund from Bitwise Asset Management. The cryptocurrency, which has traded in a tight range between 0.16 and 0.19 over the past week, remains more than 75 percent below its all-time high of 0.73 from 2021.

The uptick followed Bitwise's amended registration statement filed with the U.S. Securities and Exchange Commission on November 7. The firm removed a delaying amendment, invoking Section 8(a) of the Securities Act to accelerate the process. This sets a 20-day review period, potentially allowing the ETF to launch as early as November 26 or 27, unless the SEC intervenes. The fund would hold Dogecoin as its primary asset, using the CF Dogecoin Dollar Settlement Price for net asset value calculations. Bloomberg ETF analyst Eric Balchunas noted that the move positions the product for automatic effectiveness after the waiting period, providing institutional investors with regulated exposure to the meme coin without direct token ownership.

On-chain data shows significant activity from large holders, or whales, who sold over 3...