NYSE Arca has approved Bitwise’s Dogecoin ETF fund for launch today. This comes after Grayscale’s fund debuted on Monday but has had a very slow start in the market after a full day of trading.
Bitwise’s Dogecoin ETF to Begin Trading Today
The firm’s DOGE ETF will commence trading following NYSE Arca’s certification of the fund’s listing and registration. It would trade under the ticker BWOW on the platform later today.
Source: NYSE ArcaBitwise confirmed the listing in a public announcement on X. The firm shared that Dogecoin’s market presence needs a regulated investment vehicle. The coin is now the tenth largest crypto asset with a $22 billion valuation and more than $1 billion in daily trading volume.
BWOW is registered under the Securities Act of 1933 and will provide institutional and retail investors with exposure to the price performance of Dogecoin. Coinbase Custody Trust will be the custodian for the fund’s assets.
The launch comes after the SEC delayed its decision on the Bitwise Dogecoin ETF to November 12, 2025. This essentially prolonged the review period well beyond the standard window. NYSE Arca had also originally submitted the proposal in March.
21Shares could join Bitwise soon in launching the meme coin product. The firm recently amended its filing with the SEC to hasten its debut. Also, the fund recently secured a listing on the DTCC website which also means it could start trading soon.
Dogecoin Price Stalls Despite Grayscale’s ETF Launch
The price of the meme coin has hardly reacted since the launch of the fund. The coin has remained in the red, falling about 1% in the last 24 hours. Over the last month, it has declined more than 27%.
Source: CoinMarketCap; DOGE Price Daily ChartThe Grayscale Dogecoin ETF has had a hard time getting investor traction. Bloomberg analyst Eric Balchunas had predicted that the product would see at least $12 million in trading volume on its first day.
However, the fund saw only $1.4 million. Balchunas described the slow response as “The further away you get from BTC, the less asset there will be.”
Source: XExperts are predicting the Bitwise fund could do better than Grayscale’s slow beginning. This could essentially pump the token’s price.
Meanwhile, the REX-Osprey DOGE ETF, launched earlier in September, has adopted a more active management approach. Despite its headstart, though, the fund currently manages just about $25 million in assets.
Source: https://coingape.com/nyse-arca-clears-bitwise-dogecoin-etf-for-trading-today-after-grayscales-slow-start/
