Bitwise has filed for a Dogecoin exchange-traded fund (ETF) amid rising demand for memecoins in the crypto market. The filing with the U.S. Department of State in Delaware follows similar submissions by Rex Shares and Osprey Funds for crypto ETFs, including Dogecoin. Regulatory approval from bodies such as the SEC could validate Dogecoin as a serious investment option, potentially attracting conservative investors and driving up its price. As of Thursday, Dogecoin boasts a market capitalization of $52 billion and has seen its value triple over the past year, influenced by Bitcoin’s performance. Additionally, the establishment of a governmental agency led by Elon Musk, abbreviated as D.O.G.E, has sparked interest among traders, connecting the memecoin to anticipated fiscal reforms.

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