Spot Dogecoin ETF Delayed Again As SEC Stalls Bitwise’s Bid

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The US Securities and Exchange Commission (SEC) has decided to give itself *a little more time* (because who doesn’t love a good delay?) to decide whether NYSE Arca can list the Bitwise Dogecoin ETF. They’re officially extending the decision deadline to November 12, 2025. That’s right, folks, more waiting! 🕐

In a notice dated September 9, the SEC confirmed that it’s extending the period for reviewing Bitwise’s application to list its Dogecoin trust as Commodity-Based Trust Shares under the NYSE Arca Rule 8.201-E. The Commission said, “We’ll either approve or disapprove by November 12, 2025,” which is basically code for, “We’re not sure yet, but enjoy this suspense!” 😅

Spot Dogecoin ETF-Nah, But DOJE Is Coming

So while we’re all waiting for the Bitwise decision, there’s a little twist in the plot. Another Dogecoin ETF, this one from REX Shares and Osprey Funds, is ready to roll out this Thursday via a totally different (and probably less agonizing) regulatory route. They’re calling it DOJE. Get it? Dogecoin… DOJE. Clever, right? 🙄

This fund is not playing by the same rules as the Bitwise application. Instead of waiting on SEC approval under the ’33/’34 Act, DOJE will list under the *glorious* Investment Company Act of 1940. Because who doesn’t love a good throwback? 📜 It’s essentially the same route the issuers used for their Solana ETF, so they’re sticking with what works.

Bloomberg’s Eric Balchunas summed it up perfectly with a tweet on X: “Meme coin ETF era about to kick off it looks like with DOJE slated for a Thursday launch, albeit under the 40 Act a la SSK. There’s a big group of ‘33 Act-ers waiting for SEC approval still. Pretty sure this is first-ever US ETF to hold something that has no utility on purpose.” Nailed it, Eric. 😏

So, here’s where we stand: Bitwise is still fighting the good fight, hoping to get approval for its Dogecoin trust via the usual, slower route. Meanwhile, DOJE is ready to go live this week, launching as the first-ever US Dogecoin ETF using the ’40 Act. It’s basically the cool, rebellious cousin of the Bitwise ETF that’s skipping the waiting line and just doing its own thing. 😎

At the end of the day, crypto ETFs are going through a bit of an identity crisis-are we using the right rules or not? Bitwise is sticking to the traditional framework, while REX-Osprey is showing us that there’s more than one way to party. 🎉

At press time, DOGE is trading at a very modest $0.24. We’ll see if that number changes with all these ETF shenanigans, but no promises. 🤷‍♂️

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2025-09-10 13:43