- Bitwise registers a legal entity for Dogecoin ETF in Delaware signaling possible SEC filing soon.
- Dogecoin sees whale activity rise with 590 million tokens bought after Bitwise’s registration news.
- Analysts predict Dogecoin price could surge if the ETF gains approval amid growing institutional interest.
Bitwise Asset Management has taken a significant step toward a Dogecoin exchange-traded fund by registering a legal entity in Delaware. The filing was made with Delaware’s Department of State’s Division of Corporations. While this is not an official filing with the U.S. Securities and Exchange Commission, it may be a precursor to a potential submission.
Dogecoin has gained popularity over the years. The filing by Bitwise signals growing institutional interest in the memecoin.
Increased Speculation Around Dogecoin ETF Approval
Market analysts suggest that the legal entity registration could soon lead to a formal ETF filing. Typically, issuers establish legal structures before submitting Form S-1 to the SEC. Analysts estimate a possible launch by 2025 if regulatory conditions are favorable.
Whale Activity Reflects Growing Confidence
The news of Bitwise’s filing has also triggered significant activity among large Dogecoin holders, often referred to as whales. According to data from Santiment, whales accumulated 590 million Dogecoin tokens within 24 hours of the announcement.
This indicates growing confidence in the token’s future prospects. Investors are positioning themselves ahead of potential regulatory approvals and market shifts.
Dogecoin’s Growing Recognition
The filing coincides with Dogecoin’s increasing acceptance in various sectors. Notably, the token’s logo was recently displayed on the website of the newly formed U.S. Department of Government Efficiency. Established by an executive order under President Donald Trump, the department has drawn attention to the coin’s impact.
Technical analysts have predicted potential price surges for Dogecoin if an ETF gains approval. Some forecasts suggest it could reach $2. Others predict a rise to $15 in the long term. These projections depend on regulatory approval and market conditions.
The registration marks a pivotal moment for Dogecoin and it hints at its potential inclusion in regulated financial products. Further updates are anticipated as Bitwise progresses toward formal SEC filings.
The post Bitwise Prepares for Dogecoin ETF with Delaware Entity Registration appeared first on Cryptonewsland.
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