Tuesday, the management of Bit assets
This marks the second deposit for a Dogecoin ETF, following a similar decision of Rex Actions last week.
Bit files
On January 28, the asset manager submitted an S-1 form with the dry to launch an ETF of Dogecoin. This file came shortly after its previous request to establish an ETF of Dogecoin through a Trust Delaware.
“We knew that it was going to happen because they submitted a file to record the trust last week, but that makes it official with the dry,” said Bloomberg James Seyffart analyst (formerly Twitter).
With this decision, Bitwise joins the Rex actions, which recently submitted ETF applications for several pieces even. These include Doge, Bonk (Bonk) and Donald Trump’s Trump token.
However, the Bitwise deposit has a specialty. Eric Balchunas, senior ETF analyst at Bloomberg, stressed that the file had been carried out under the 1933 ACT Securities.
“This is the first Doge Act ’33 depot ($ ibit). Rex has on e tabled in less than 40 acts, but it is not the same structure of real real physical structure, “wrote Balchunas on X.
In particular, this distinction is crucial. The ETFs deposited under the Securities Act of 1933 are physically supported, which means that they hold the underlying asset – in this case, Dogecoin.
On the other hand, ETFs under the 1940 investment companies Act have a different structure. Therefore, they do not necessarily imply direct property of the assets.
In addition, in its deposit, the ILO designated Coinbase police custody as a guard proposed for his Etf Doge Spot. However, the S-1 leaves aside certain details. This includes the costs offered, the Ticker symbol or the scholarship on which the ETF would be registered if it is approved.
Meanwhile, after the Dogecoin ETF Bitwise deposit, the Paris Ribs on the Polymarket prediction platform reached a record summit of 56% in favor of approval. At the time of writing the editorial time, the chances remained stable at 55%.
The Bitwise movement occurs in the middle of an increase in the deposits of cryptocurrency. The company has already launched Spot Bitcoin (BTC) and Ethers Ethereum (ETH). In addition, he also filed requests for ETF Solana (Sol) and XRP (XRP).
However, the proposal for an Indication of Crypto in Bitwise 10 is still pending. This fund aims to follow the performance of the ten largest cryptocurrencies by market capitalization. Nevertheless, the SEC extended its examination of the request until March 2025.
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