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By Tom Carreras|Edited by Stephen Alpher
Jun 26, 2025, 3:49 p.m.
- Bitwise has updated its filing for a dogecoin ETF, suggesting potential SEC approval for the spot vehicle.
- The amended filing includes in-kind redemptions, allowing issuers and broker-dealers to directly trade between DOGE tokens and ETF shares.
- 21Shares and Grayscale have also filed for dogecoin-related financial products, indicating growing interest in the market.
A spot dogecoin ETF
may be coming closer to reality.
ETF issuer Bitwise updated a regulatory filing for its dogecoin ETF on Thursday, suggesting approval chances could be growing, according to one expert.
STORY CONTINUES BELOW
“Bitwise has filed amended S-1s for their spot dogecoin ETF and their spot aptos ETFs,” wrote Bloomberg Intelligence’s Eric Balchunas. “Good signs as it indicates SEC engagement, and tracks with other spot approvals.”
Also noteworthy is the fact that the dogecoin ETF filing was amended to include in-kind redemptions and creations, meaning that the broker-dealers interacting with the ETF can directly trade shares for DOGE tokens, or vice versa.
“Near-lock at this point that in kind will be allowed in spot ETFs across board,” Balchunas added.
As of right now, all U.S.-based crypto ETFs must swap their tokens for cash, then swap that cash for shares (or swap the shares for cash, then the cash for tokens), which creates a tax event.
The news isn’t helping prices much, with DOGE lower by about 2% over the past 24 hours to $0.16.
21Shares has also filed for a dogecoin ETF, while Grayscale has filed for a dogecoin trust with a 2.5% fee.
Tom writes about markets, bitcoin mining and crypto adoption in Latin America. He has a bachelor’s degree in English literature from McGill University, and can usually be found in Costa Rica. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
