Spot Dogecoin ETF- Bitwise Leads Race for Dogecoin and Aptos Spot ETFs
Spot Dogecoin ETF– Bitwise Asset Management has submitted amended filings to the U.S. Securities and Exchange Commission (SEC) for its proposed spot Dogecoin (DOGE) and Aptos (APT) exchange-traded funds (ETFs). These updates come as regulatory discussions continue to progress and reflect growing interest in altcoin-based investment products.
Major Update: In-Kind Creation and Redemption
A notable change in the amended applications is the introduction of “in-kind” creation and redemption mechanisms. This model allows ETF shares to be exchanged directly for the underlying cryptocurrency, enhancing tax efficiency and reducing potential market disruption.
Bloomberg ETF analyst Eric Balchunas called the inclusion of in-kind mechanics a “huge update”, suggesting it could set a new standard for crypto ETFs. “This is a positive sign and reflects momentum toward approval,” he added, highlighting that such structural features may help address SEC concerns about market stability and manipulation.
Regulatory Outlook and Industry Competition
Bitwise initially filed for a Dogecoin ETF in January and remains the only firm to propose an Aptos-based ETF. The SEC recently delayed its review of Bitwise’s Dogecoin application, stating it needed more time to determine if the product complies with legal and market integrity standards.
Despite the delay, regulatory engagement appears to be increasing. Bloomberg’s James Seyffart recently estimated the chances of a Dogecoin ETF approval at 80%, citing the growing interest among institutional investors and the evolution of ETF structures.
Bitwise faces competition from other major players, including Grayscale and 21Shares, which are also pursuing Dogecoin ETF approvals.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
