TLDR
- Bitwise’s Dogecoin ETF, BWOW, is currently under review by the SEC.
- If approved, BWOW would offer U.S. investors regulated exposure to Dogecoin.
- Bitwise resubmitted its S-1 filing in early November to start the 20-day SEC review process.
- Grayscale’s GDOG ETF and Canary Capital’s XRPC ETF offer context for BWOW’s potential performance.
- Dogecoin is trading above key support levels, with resistance near $0.16.
Bitwise Asset Management has confirmed that its Dogecoin exchange-traded fund, BWOW, is under review by the SEC. This regulatory process is a significant step in making BWOW available to investors. If approved, the fund would provide U.S. investors with a regulated way to gain exposure to Dogecoin. However, Bitwise clarified that the ETF cannot be promoted or offered until the review concludes.
BWOW’s Progress and Timeline
In early November, Bitwise resubmitted its S-1 filing for BWOW without a delaying amendment. This move triggered a 20-day review period under Section 8(a) of the Securities Act. According to Bloomberg ETF analyst Eric Balchunas, the filing could be approved by November 26, 2025, unless the SEC intervenes.
The firm’s progress suggests that BWOW could follow a similar approval path to Grayscale’s GDOG, the first spot Dogecoin ETF. Grayscale filed its own ETF registration earlier and has since seen some success in the market. However, BWOW’s approval is still pending, and the SEC’s stance will play a key role in its future.
Recent ETF Launches Provide Context for BWOW
The launch of Grayscale’s GDOG on November 24 offered some context for BWOW’s potential market entry. Despite the lack of initial inflows, the launch has prompted optimism for future growth. A similar pattern was observed with Canary Capital’s XRP ETF, XRPC, which saw no inflows on day one but later attracted $243 million.
This pattern could suggest that investor interest in crypto ETFs grows over time. If BWOW is approved, Bitwise may benefit from similar delayed inflows. However, as of now, BWOW remains in the regulatory review phase with no confirmed inflows.
Dogecoin ETF BWOW Could Spark Market Movement
Dogecoin has been trading above its long-standing support zone between $0.13 and $0.14. However, it faces resistance near $0.16, keeping it within a descending channel. A breakout above $0.16 could send Dogecoin to test $0.18.
Currently, Dogecoin’s RSI is around 40, indicating a neutral market condition. The MACD also shows flattened momentum, suggesting a lack of strong market direction. If the price fails to maintain its support, Dogecoin could dip toward $0.12, a level not seen since early 2025.
Bitwise’s progress with its Dogecoin ETF may provide a fresh catalyst for the market. With BWOW in its final regulatory review stages, the future of this new ETF remains uncertain.
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