Bitwise, Dogecoin, and the ETF Decision: To the Moon or Bust?

Bitwise，Dogecoin和ETF决定：对月球还是胸围？

The SEC's decision on the Bitwise Dogecoin ETF is delayed, leaving investors hanging. Will DOGE become a legit investment vehicle, or is this just a pipe dream?

SEC对Dogecoin ETF的决定延迟了，使投资者悬而未决。 Doge将成为合法的投资工具，还是这只是一个梦想？

SEC Delays Decision on Bitwise Dogecoin ETF

SEC延迟了对位狗狗ETF的决定

Hold on to your hats, Dogecoin fans! The U.S. Securities and Exchange Commission (SEC) has pushed back its decision on the Bitwise Dogecoin ETF to November 12, 2025. That's right, we're waiting another year and a half. NYSE Arca first filed the proposal in March, seeking approval to list and trade shares of the fund. But, the SEC wants more time to mull it over, citing concerns about market manipulation, liquidity, and whether Dogecoin is even suitable for an ETF.

抓住帽子，狗狗风扇！美国证券交易委员会（SEC）已将其对位Dogecoin ETF的决定推迟到2025年11月12日。没错，我们再等了一年半。纽约证券交易所ARCA于3月首次提出了该提案，寻求批准以列出该基金的股份和交易份额。但是，SEC想要更多时间来仔细考虑，理由是对市场操纵，流动性以及Dogecoin是否适合ETF的担忧。

Dogecoin's Rocky Road to Mainstream Acceptance

Dogecoin的岩石之路通往主流接受

Bitwise is pitching the ETF as a way to give investors more options, arguing that Dogecoin has plenty of liquidity and a strong community. But skeptics worry about retail investors getting burned, urging the SEC to give Dogecoin the same tough scrutiny it gave Bitcoin and Ethereum. Remember those years of Bitcoin ETF rejections? The SEC has historically been super cautious with crypto ETFs.

Bitwise正在将ETF推销为一种为投资者提供更多选择的方式，认为Dogecoin具有大量的流动性和强大的社区。但是怀疑论者担心散户投资者会被烧毁，敦促SEC对Dogecoin进行同样的仔细审查，从而给予比特币和以太坊。还记得那些比特币ETF拒绝的岁月吗？从历史上看，SEC对加密ETF非常谨慎。

A Meme Coin ETF: A Sign of Things to Come?

模因硬币ETF：即将发生的事情的标志？

If approved, a Dogecoin ETF would be the first meme-based crypto fund in the U.S. Some analysts, like Bloomberg's Eric Balchunas, predicted a Dogecoin ETF launch way back in September. This could pave the way for other meme coins and niche digital assets to seek ETF status. Despite the SEC delay, Dogecoin's value has held relatively steady, trading around $0.2407 recently. It's up over 14% in the past week and a whopping 150% compared to a year ago. But remember, DOGE is known for its wild swings, so buckle up!

如果获得批准，Dogecoin ETF将是美国第一个基于模因的加密基金，例如彭博的Eric Balchunas等一些分析师预测，Dogecoin ETF ETF在9月份发射。这可以为其他模因硬币和利基数字资产寻求ETF地位铺平道路。尽管SEC延迟了，但Dogecoin的价值仍然相对稳定，最近的交易额约为0.2407美元。在过去一周中增长了14％以上，比去年同期增长了150％。但是请记住，Doge以其狂野的挥杆而闻名，所以扣紧！

Meanwhile, Bitwise Eyes Avalanche

同时，钻头的眼睛雪崩

While Dogecoin's fate hangs in the balance, Bitwise is also making moves with other altcoins. They've registered an Avalanche ETF trust in Delaware, signaling growing institutional interest in AVAX. This puts them in competition with VanEck and Grayscale, who are also vying for an Avalanche ETF. It seems like everyone wants a piece of the altcoin ETF pie!

虽然Dogecoin的命运悬而未决，但Bitwise也与其他山寨币进行动作。他们已经在特拉华州注册了雪崩ETF信托，这表明对Avax的机构兴趣不断增长。这使他们与Vaneck和Grayscale竞争，他们也正在争夺雪崩ETF。似乎每个人都想要一块Altcoin ETF派！

REX Shares Enters the Doge ETF Arena

Rex分享进入Doge ETF竞技场

Adding another layer to the mix, REX Shares has also filed an application with the SEC to launch a Dogecoin ETF. Even Elon Musk's lawyer, Alex Spiro, is involved in a company planning to raise $200 million for Dogecoin investment. With institutions like 21Shares and Bitwise also in the race, Dogecoin is definitely making waves in the financial world.

雷克斯（Rex Shares）在组合中增加了另一层，还向SEC提交了申请，以推出Dogecoin ETF。甚至埃隆·马斯克（Elon Musk）的律师亚历克斯·斯皮罗（Alex Spiro）也参与了一家计划为Dogecoin投资筹集2亿美元的公司。凭借21shares和Bitwise这样的机构，Dogecoin肯定会在金融界浪潮。

The Bottom Line

底线

Will the SEC finally give the green light to a Dogecoin ETF? Only time will tell. But one thing's for sure: the meme coin is no longer a joke. It's attracting serious attention from big players, and that's something to bark about!

SEC终于将绿灯送给Dogecoin ETF吗？只有时间会证明。但是可以肯定的是：模因硬币不再是个玩笑。这引起了大型玩家的严重关注，这是值得吠叫的东西！

Disclaimer: This is not financial advice. Always do your own research before investing in cryptocurrency.

免责声明：这不是财务建议。在投资加密货币之前，请务必进行自己的研究。

P.S. To the moon... maybe? We'll see what the SEC says!

PS到月球...也许？我们将看到SEC所说的！