Bitwise rolls out Dogecoin ETF on the NYSE: ‘Against the odds, it has kept its relevance’

Crypto fund manager Bitwise launched its Dogecoin exchange-traded fund (ticker: BWOW) on the New York Stock Exchange (NYSE). Bitwise CEO Hunter Horsley stated that DOGE, which started as a joke, has surprisingly maintained its relevance and value for 12 years, prompting the ETF launch to serve existing DOGE holders.

Dogecoin is currently the 10th largest crypto by market capitalization. The article notes DOGE's history, including gaining attention from Elon Musk and its association with a short-lived Department of Government Efficiency (DOGE) led by Musk and Vivek Ramaswamy, which previously pushed its price above $0.40.

The Bitwise Dogecoin ETF joins other recently launched DOGE-based funds, such as the Grayscale Dogecoin ETF (GDOG) and the REX-Osprey DOGE ETF. Coinbase Custody Trust Company, LLC will serve as the custodian for the new Bitwise product.

(Source：The Block)