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Good News for Dogecoin: Anticipated Application Submitted to the SEC by Bitwise! - Coin Bulletin
Spot exchange investment fund application has been made for Dogecoin (DOGE).
Cryptocurrency asset management company Bitwise has officially filed a Spot Dogecoin ETF (Exchange Traded Fund) application with the U.S. Securities and Exchange Commission (SEC). Bitwise had registered the necessary documents for the application in Delaware on January 22nd.
Bitwise's move once again highlights the popularity of Dogecoin in the cryptocurrency market and investors' interest in this asset.
Bitwise CIO Matt Hougan stated in an interview with the Financial Times:
In addition to Bitwise, financial institutions such as Osprey Funds and Rex Shares have also made similar applications for Dogecoin ETFs. These developments are interpreted as an indication that the cryptocurrency market is increasingly being accepted by institutional investors.
The Impact of Trump Administration's Crypto Currency Policies on Dogecoin
It is stated that the recent rise of Dogecoin is also influenced by former US President Donald Trump's policies towards the cryptocurrency market.
During the Trump administration, a working group was formed to develop a federal regulatory framework for digital assets.
In addition, the appointment of Paul Atkins, who is known as crypto-friendly, as the head of the SEC, was considered a positive step for the market.