All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- Bitwise revised its Dogecoin and Aptos ETF applications, indicating its ongoing interaction with the SEC.
- The Dogecoin ETF also has in-kind transactions, which could enhance tax efficiency and chances of approval.
Bitwise Asset Management has filed amended S-1 registration statements to propose spot Dogecoin and Aptos exchange-traded funds (ETFs). The amended filings were submitted to the U.S. Securities and Exchange Commission (SEC) on Thursday, 14 days after the regulator postponed its decision on the Dogecoin ETF.
Bitwise has filed amended S-1s for their spot Dogecoin ETF and their spot Aptos ETFs. Good signs as it indicates SEC engagement, and tracks with other spot approvals. pic.twitter.com/vWpkMwyhyT
— Eric Balchunas (@EricBalchunas) June 26, 2025
The updates also reveal ongoing discussions between Bitwise and the SEC. Bloomberg ETF analyst Eric Balchunas claimed the amendments are a sign that the regulators are active and in line with recent activity in the granting of spot US crypto ETFs.
Dogecoin ETF Includes Key Structural Update
The revised Dogecoin ETF application proposes in-kind creations and redemptions. Such a system would enable official participants to make transactions directly in Doge rather than having to exchange DOGE and cash. This structural change involves the introduction of this feature in the original January filing of Bitwise.
Commodity-backed ETFs have more prevalent in-kind transactions, which have a number of benefits. They mitigate slippage, enhance tax efficiency, and fit more requirements of SEC-registered crypto funds. According to analysts, this structural addition can provide a boost to the ETF winning regulatory approval.
Bitwise is proposing to register DOGE and APT ETFs under the act of 1933 Securities. Such an approach is different from previous filings by companies such as Rex Shares and Osprey Funds, which chose the 1940 Act framework. Although the 40 Act offers more restrictive investor protections, the 33 Act is generally trotted out with physically-backed products and provides Bitwise with greater freedom in the fund design. However, it also places the filings under a different compliance lens.
The Dogecoin ETF proposal was first made in January, and the Aptos ETF application was made in March. The two filings are part of an effort by Bitwise to increase its crypto-based lineup of ETFs, with the first of them, the Bitwise Bitcoin ETF (BITB) already approved and additional applications pending, including one targeting XRP.
Dogecoin Price Remains Subdued
Despite the ETF update, Dogecoin’s market response has been muted. At press time, DOGE is valued at $0.16, showing a more than 20% drop in June. The token has failed to recover since hitting around $0.50 last November amid renewed pro-crypto sentiment when Trump won the presidency.
Market analysts are optimistically cautious. According to CoinCodex, Dogecoin will rise to $0.19 in late July, a 17% potential upside. However, their sentiment indicators depict prevailing bearish impetus despite the Fear & Greed Index reading 66, a sign of investor greed.
Institutional adoption is part of what may make Dogecoin attractive in the long term. A potential launch of a spot ETF would allow it to access the market on a wider basis, especially among investors who cannot directly invest in crypto. Approved ETF would also put DOGE alongside Bitcoin and Ethereum in the increasing pool of SEC-approved crypto products.
