Bitwise is preparing to launch the first spot ETF for Dogecoin—this could happen within 20 days automatically, without separate approval from the SEC. This step will be an important milestone for institutional adoption of cryptocurrencies.
According to Bloomberg ETF analyst Eric Balchunas, Bitwise is using the mechanism under Section 8(a) of the Securities Act. It allows the registration to take effect automatically.
The launch of the ETF is being discussed against the backdrop of weak DOGE performance: the price remains under pressure despite growing institutional interest. This highlights the gap between market prices and the institutional agenda.
DOGE‑ETF launch accelerates due to 8(a) strategy
Bitwise is using a regulatory loophole that allows it to bypass standard approval procedures. According to Bloomberg analyst Eric Balchunas, the company filed an application under 8(a), which triggers a 20-day countdown to automatic entry into force of the ETF, unless the SEC intervenes.
Grayscale has also filed an updated application for a spot ETF for Dogecoin, which started a similar timer. Last week, three crypto funds related to SOL, LTC, and HBAR appeared on Wall Street. This has set an important precedent for launching altcoin ETFs beyond Bitcoin and Ethereum.
Unlike the classic approval procedure under rule 19b-4, the 8(a) mechanism allows the product to launch automatically after the set period. However, the SEC can still intervene if it sees risks. This creates some uncertainty despite the formal advantage of the procedure.
DOGE price drop does not hinder growing institutional interest
Since September, DOGE has dropped from $0.297 to $0.155—a decrease of 48% from the peak. This decline sharply contrasts with the accelerating launch of institutional products. The gap between price dynamics and ETF developments shows that these processes move at different paces.
DOGE price chart. Source: Coingecko
Analysts note that memecoin volatility is very different from the behavior of major cryptocurrencies. The price of DOGE still largely depends on social media and retail trader activity. However, possible approval of an ETF could be a turning point—a moment when institutional demand begins to influence price formation.
Institutionalization is changing the structure of the memecoin market
Progress toward approval of a DOGE‑ETF signals structural shifts. Memecoins are increasingly integrating into the regulated financial system. Bloomberg analysts estimate the chances of ETF approval for XRP at 95%, and for DOGE at 90%. This shows that regulators are gradually starting to view meme assets as a legitimate investment class.
According to forecasts, by mid-2026 more than 200 crypto ETFs could be approved. The current wave is just the beginning of large-scale institutionalization of altcoins.
See also: Trump promised to turn the US into the crypto capital of the world
New ETFs with in-kind structure (direct asset exchange, without fiat) give institutions tax and operational advantages. The transition from a speculative instrument to a full-fledged investment product could radically change DOGE‘s position in the market and attract capital that previously avoided memecoins due to storage and compliance issues.
