TLDR
- Bitwise’s Dogecoin ETF BWOW, will begin trading today on NYSE Arca.
- The ETF aims to provide exposure to the price performance of Dogecoin.
- Coinbase Custody Trust will serve as the custodian for the fund’s assets.
- Bitwise’s ETF launch comes after the SEC delayed its decision until November 2025.
- Grayscale’s Dogecoin ETF had a slow start, with only $1.4 million in trading volume.
Bitwise’s Dogecoin ETF will begin trading today on NYSE Arca, under the ticker BWOW. The firm announced that the fund had received certification for listing and registration. This follows Grayscale’s Dogecoin ETF, which debuted on Monday but faced a slow market start.
Dogecoin ETF Launches with NYSE Arca Certification
The Bitwise Dogecoin ETF will offer investors exposure to Dogecoin’s price performance. It will be the latest addition to the growing number of crypto investment vehicles. Bitwise confirmed the listing via a public announcement on X, emphasizing the need for a regulated investment option for Dogecoin.
Dogecoin has grown into the tenth-largest cryptocurrency, with a $22 billion market cap. It sees over $1 billion in daily trading volume. Bitwise’s ETF aims to provide both institutional and retail investors with a pathway to invest in the coin.
The fund is registered under the Securities Act of 1933. Coinbase Custody Trust will handle the ETF’s asset custody. Bitwise’s decision to launch this fund highlights its recognition of Dogecoin’s market presence.
Grayscale’s DOGE ETF Faces Slow Start
Grayscale’s Dogecoin ETF struggled to gain traction after launching earlier this week. On its first day, the fund saw only $1.4 million in trading volume. Bloomberg analyst Eric Balchunas had predicted $12 million in trading volume for its debut.
This underwhelming start has raised questions about the demand for non-Bitcoin crypto ETFs. Balchunas pointed out that “the further away you get from BTC, the less asset there will be.”
Despite Grayscale’s slow beginning, experts suggest that Bitwise’s Dogecoin ETF could perform better. The fund’s structured approach and backing by a well-known firm may help attract more investors.
21Shares, another player in the crypto ETF space, is considering launching its own Dogecoin fund. The firm has amended its SEC filing to accelerate its debut. It recently secured a listing on the DTCC website, signaling a possible imminent launch.
The Dogecoin market continues to show promise, despite the challenges faced by some funds. Bitwise’s entry into the market may further boost the token’s visibility and trading volume.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
