Crypto Asset Manager Bitwise uploaded documents to launch an exchange-exchanged fund (ETF) tied to Dogecoin (Doge), a File with the US. The Securities and Exchange Commission on Tuesday shows up.
File, an S-1 document, is a requirement for companies seeking to issue a new security and listed in a public stock exchange.
Earlier this month, the investment managers Rex and Osprey Fund share Filed paperwork for many Crypto ETFs, including Dogecoin along with other memecoins.
However, Bitwise filing is different in that it was filed under the ’33 Act compared to 40 Act, filed by Rex and Osprey under, Bloomberg Intelligence Senior Etf Analyst Eric Balchunas taught.
S-1s filed under ’33 Act are commonly used for niche, ETFs-based commodity while filing under 40 Act provides stronger investor protection due to demand Its provided to meet additional policies in SEC. The 40 Act, for example, limits action and selling and requires more strict administration and management, among other things.
Bitwise is the one that has provided many Crypto ETFs and has many applications pending, including one for An XRP (XRP) ETF.
While S-1 documents are a first step in launching an ETF, the more important filing is the 19B-4, which is required to signal a required change in the stock exchange rule that seeks to list the investing and tied the SEC to a strict deadline.
While the Memecoin ETF is an almost unimaginable investment vehicle under the SEC of the Gray Gensler, which has given difficult time launching a Bitcoin ETF area, the likelihood of such funds today seems more likely than before after of President Donald Trump’s inauguration.
Not only did Trump promise policies that are friendly to crypto, but after the Launch his own memecoinsTrump and Melania, it became clear that the President himself was a fan of Memecoins.
