Crypto asset manager Bitwise has filed an S-1 document with the U.S. Securities and Exchange Commission (SEC), signaling its intention to launch an exchange-traded fund (ETF) tracking the price of dogecoin (DOGE).
This filing, a requirement for companies seeking to issue new securities and list them on public stock exchanges, follows similar filings by Rex Shares and Osprey Funds earlier this month for crypto ETFs, including those tracking dogecoin and other memecoins.
However, Bitwise’s filing distinguishes itself by being submitted under the ’33 Act, unlike the 40 Act filings of Rex and Osprey.
S-1s filed under the ’33 Act are typically reserved for niche, commodity-based ETFs, while the 40 Act provides stronger investor protection by requiring issuers to adhere to stricter SEC rules, including limitations on leverage and short-selling, stricter fiduciary oversight and governance, and other requirements.
