Bitwise Files Amended S-1 for U.S. Dogecoin ETF

Bitwise Asset Management filed an amended S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on October 6, 2025.

The filing shares the intentions to introduce the Bitwise Dogecoin ETF, an exchange-traded product that will provide investors with exposure to Dogecoin without owning it directly.

Bitwise Dogecoin ETF structure and operations

Shares in the ETF will equal the amount of Dogecoin owned by the trust, and net asset value will be determined daily based on the CF Dogecoin-Dollar Settlement Price. The CF Dogecoin-Dollar Spot Rate will provide second-by-second data to display an Indicative Trust Value (ITV) every 15 seconds during market hours. This data will help investors track the ETF’s value in real time.

The ETF will issue and redeem shares in units of 10,000, “Baskets,” by an authorized participant. Bitwise also plans to facilitate in-kind and cash creations and redemptions for the Dogecoin ETF.

For in-kind creations, an authorized participant delivers the required amount of Dogecoin to the trust. For cash creations, they provide U.S. dollars to buy the equivalent of Dogecoin. When redeeming, the trust either gives Dogecoin directly (in-kind) or sells it and distributes the cash.

The ETF will be managed by Bitwise Investment Advisers, LLC, with Bitwise Asset Management, Inc. providing initial seed capital. Dogecoin will be securely held by Coinbase Custody, which carries private insurance coverage.

Crypto ETF market updates

The Dogecoin ETF was first filed in March 2025 and opened up for public comment, which the SEC later extended to permit further review. Bitwise filed revised S-1 forms for both its Dogecoin ETF and its Aptos (APT) ETF in June 2025.

Investors flocked to the first U.S. ETFs linked to Dogecoin and XRP in September, driving trading volumes well beyond Wall Street expectations. Launched by REX Shares and Osprey Funds, the two funds recorded nearly $55 million in trades on their debut, marking a strong start for altcoin ETFs.

Despite this growth in ETF filings, the SEC postponed its decision on two proposed Solana ETFs from Bitwise and 21Shares, taking more time to review the filings in the same month.

According to CoinMarketCap, Dogecoin (DOGE) is currently trading at $0.2612, gaining 1.59% today. Its market cap is $39.51 billion, while its 24-hour trading volume is $4.02 billion.