NYSE Arca has filed a proposed rule change to list and trade shares of the Bitwise Asset Management Dogecoin exchange-traded fund.
On March 3, the New York Stock Exchange subsidiary filed the 19b-4, which, if approved, would enable the exchange to list the Bitwise Dogecoin
Coinbase will act as the Dogecoin custodian while the Bank of New York Mellon will handle the cash custody, administration, and transfer agency functions, it stated.
The ETF uses cash creations and redemptions, meaning investors cannot contribute or receive Dogecoin directly.
Bitwise filed an S-1 registration form for the product with the Securities and Exchange Commission in late January.
If approved, this would be one of the first US-listed memecoin ETFs, providing regulated access to Dogecoin for institutional and retail investors.
Dogecoin prices did not react to the filing and have tanked more than 15% on the day, falling to $0.19 in a broader crypto market rout that has wiped out all gains from Donald Trump’s US crypto reserve announcement on March 2.
On Feb. 13, the SEC acknowledged Grayscale’s filings for the Grayscale Dogecoin Trust, meaning that the timeline for reviewing and deciding on the product has begun, and a potential deadline would be around mid-October.
Meanwhile, the Nasdaq on March 3 filed a similar proposed rule change with the SEC to list and trade shares of the Grayscale Hedera Trust. The fund will track the price of HBAR, the native token of the Hedera Network. In late February, the Nasdaq filed to list a similar Hedera product from Canary Capital.
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