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Bitwise Files First Ever Spot NEAR ETF with SEC

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  • Bitwise has filed the first-ever spot NEAR ETF proposal with the SEC, aiming to offer regulated exposure to NEAR Protocol.
  • The ETF would track the CF NEAR-Dollar Settlement Price, giving investors access without directly managing crypto.
  • The filing reflects rising demand for altcoin ETFs and could mark a major step in broader crypto adoption.

Bitwise Asset Management has officially submitted a proposal to the U.S. Securities and Exchange Commission (SEC) for the first-ever spot NEAR exchange-traded fund (ETF). The filing, disclosed on May 6, places NEAR Protocol, an emerging layer-1 blockchain, at the forefront of the next wave of altcoin ETF contenders.

This strategic move reflects a rapidly growing investor appetite for regulated, diversified exposure to digital assets beyond Bitcoin and Ethereum. By filing for a spot NEAR ETF, Bitwise is not only expanding its product suite but also signaling confidence in NEAR’s long-term utility and adoption.

NEAR Protocol is designed for high-speed, low-cost transactions, aiming to solve blockchain scalability challenges. With its developer-friendly environment and sharding architecture, NEAR has gained significant traction in the Web3 space. Bitwise’s ETF seeks to capture this momentum, offering investors a simplified way to gain exposure to NEAR’s market performance without directly purchasing or managing the token themselves.

The proposed ETF will track the CF NEAR-Dollar Settlement Price, a benchmark designed to reflect the real-time market value of NEAR. Investors would benefit from a transparent valuation mechanism while avoiding the technical complexities of managing a crypto wallet or private keys.

According to the filing, Coinbase Custody Trust Company has been tapped as the fund’s custodian, ensuring institutional-grade security for the underlying digital assets. However, key details like the fund’s management fee, ticker symbol, and trading venue have yet to be announced.

Bitwise NEAR ETF Filing Signals Altcoin Breakthrough

Bitwise’s NEAR ETF application comes at a time when the SEC is under increasing pressure to greenlight spot ETFs for a broader range of crypto assets. Following the watershed approval of spot Bitcoin ETFs in early 2024 and Ethereum ETFs shortly thereafter, attention has turned to altcoins like Solana, XRP, Cardano, and now NEAR.

The demand is clear: institutional and retail investors alike are seeking safer, more convenient ways to participate in the evolving crypto market. ETFs offer a familiar vehicle, one that blends the accessibility of traditional brokerage platforms with the high-growth potential of digital assets.

By proposing a spot NEAR ETF, Bitwise is helping to chart new regulatory territory. The fund’s structure supports a creation-and-redemption mechanism, critical for ensuring liquidity and aligning prices with NAV. This approach reduces the premiums and volatility often seen in crypto investment products, further bridging the gap between traditional finance and blockchain innovation.

The success of this filing could reshape the investment landscape for altcoins. If approved, Bitwise’s NEAR ETF would represent a watershed moment for the NEAR ecosystem, potentially driving mainstream awareness and institutional capital toward the protocol.

Moreover, it reinforces the crypto industry’s broader push for legitimacy in the eyes of regulators and financial institutions. For now, market participants will be closely watching the SEC’s response to a decision that could set the tone for altcoin ETFs moving forward.

As the race for regulated crypto products intensifies, Bitwise’s NEAR ETF filing isn’t just a bold bet on one blockchain; it’s a statement about where the future of digital asset investing is headed.

Related | Only XRP Buyers in Profit, Others in Losses: Glassnode

Nasdaq Files S-1 for 21Shares Dogecoin ETF, Awaits SEC Review

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  • Nasdaq files S-1 for 21Shares Dogecoin ETF, starting SEC approval process
  • 21Shares Dogecoin ETF to track DOGE, offering institutional exposure
  • Growing institutional interest boosts chances for Dogecoin ETF approval

Nasdaq has submitted an S-1 application with the U.S. Securities and Exchange Commission (SEC) to list the 21Shares Dogecoin ETF. The SEC has started the review and approval process for the ETF, which offers institutional investors direct exposure to Dogecoin. The SEC will review the submitted application to determine whether it will approve or reject the ETF.

21Shares Dogecoin ETF

21Shares, a major asset manager, submitted the S-1 form to launch a spot Dogecoin ETF. The proposed fund will directly hold Dogecoin assets instead of depending on derivatives such as futures. The fund will use the CF Dogecoin-Dollar Settlement Price to track the Dogecoin price, which offers investors a regulated crypto investment product.

The SEC will review the application and collect public feedback before making a decision. The approval or denial of the Dogecoin ETF will be determined by whether the application meets regulatory standards. 21Shares’ application comes after the manager submitted a 19b-4 form this month to enable institutional access to Dogecoin.

The Dogecoin ETF will provide passive income on the investments made in the fund. The fund enables shares to be purchased and redeemed in blocks of 10,000 shares in cash. However, the fund will not use leverage and derivatives to ensure a direct investment approach.

Institutional Interest in DOGE Investment Products

Nasdaq’s S-1 submission demonstrates its dedication to effectively monitoring the Dogecoin market. The exchange is a member of the Intermarket Surveillance Group (ISG), which aims to prevent market manipulation. These security measures ensure that the ETF complies with regulatory requirements.

21Shares has partnered with House of Doge, the corporate partner for Dogecoin Foundation, to promote the ETF. This partnership aims to boost marketing and licensing activities to improve the ETF’s penetration in retail and institutional markets. The Swiss-based company accomplished market success in Europe when it launched the Dogecoin Exchange Traded Product (ETP) on the SIX Swiss Exchange.

DOGE ETF Race

Other prominent asset managers such as Grayscale and Bitwise have filed similar applications for DOGE ETFs. This reflects the increased institutional interest in meme coins like DOGE and could boost its market price. Additional DOGE-based ETFs could fuel institutional demand and likely propel DOGE’s price.

More than 70 crypto ETF applications have been submitted for review to the SEC. If approved, the spot Dogecoin ETF will deliver regulated and secure investment access to DOGE. Experts have forecasted up to a 75% likelihood of Dogecoin ETF approval in 2025.

ProShares XRP Futures ETFs Set for April 30 Launch in U.S.

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  • ProShares to launch 2x leveraged and short XRP ETFs on April 30.
  • SEC’s approval excludes spot XRP ETFs, still under review.
  • Teucrium launched the first XRP futures ETF earlier this month.

ProShares will debut three XRP futures-based exchange-traded funds(ETFs) on April 30, 2025. These ETFs will track the price of XRP and provide investors with leveraged and inverse exposure to XRP. The three  ProShares ETF products comprise the Ultra XRP ETF with 2x leverage, the Short XRP ETF and the Ultra Short XRP ETF with -2x leverage.

The approval of these exchange-traded funds(ETFs) marks an important step in the U.S. markets. ProShares submitted its applications in January and received implicit approval. The ETFs will launch as scheduled because the SEC has not submitted any objections.

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ProShares XRP Futures ETFs Set for April 30 Launch in U.S. 2

 

ProShares is the second asset manager to launch futures-based ETFs which track XRP in the U.S market. ProShares launches several  leveraged products to meet the increased demand for digital asset-based  investment products. The launch comes after Vermont-based Teucrium Investment Advisors LLC debuted futures-based XRP ETF earlier this month.

XRP Futures ETFs Outpace Spot XRP ETFs in Approval

Although ProShares has received approval for its futures-based products, its spot XRP ETF is still under review. ProShares submitted an application to launch a spot XRP ETF but this product has not yet been approved. Furthermore, the SEC has not approved spot XRP ETF applications filed by ProShares, Grayscale, 21Shares and Bitwise.

The ProShares Ultra XRP ETF enables investors to achieve 2x leverage to the XRP price movement. However, the Short and Ultra Short XRP ETFs are inverse products that enable investors to profit when prices decrease. These leveraged products target active trade traders and offer them high-risk high-reward trading opportunities.

The SEC has demonstrated a lenient approval process of futures-based ETFs compared to spot products. The spots ETFs must adhere to a formal SEC approval process unlike the futures ETFs. The approval of ProShares’ futures ETFs demonstrates the SEC’s cautious approach to cryptocurrency investment products.

ProShares’ Crypto Product Lineup

The ProShares’s XRP futures ETFs diversifies the cryptocurrency-based financial products available in U.S. markets. ProShares, a major player in the crypto ETF market, seeks to expand its XRP product lineup as well as broaden market participation.

ProShares’s latest move matches its approach for crypto-based investment products diversification. The company continues to develop products that provide investors with increased access to digital assets. ProShares expects increased demand for regulated investment options due to the digital asset market growth.

Bitwise Registers NEAR ETF in Delaware to Launch Amid Surging Crypto Fund Demand

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  • Bitwise registers a Bitwise NEAR ETF in Delaware, fueling optimism for a future SEC filing.
  • NEAR Protocol’s price rises over 6% after Bitwise’s Delaware ETF registration confirmation.
  • Bitwise expands its crypto ETF lineup as the SEC reviews dozens of new digital asset proposals.

Bitwise Asset Management has registered the “Bitwise NEAR ETF” in Delaware, signaling an early move toward offering a spot Near Protocol (NEAR) ETF in the United States. According to Delaware’s Division of Corporations, Bitwise filed the trust entity on April 24, marking the first official step before seeking regulatory approval from the U.S. Securities and Exchange Commission (SEC).

Hunter Horsley, CEO and co-founder of Bitwise, confirmed the registration. This filing could pave the way for broader institutional access to the NEAR ecosystem as regulatory conditions for crypto-related ETFs continue to improve under the new U.S. administration.

Bitwise Expands ETF Plans as Regulatory Climate Shifts

Bitwise submitted its application amid increased optimism for the approval of cryptocurrency ETFs. SEC leadership under the present administration has shown more acceptance toward digital assets. The SEC first approved spot Bitcoin ETFs in January 2024, while spot Ethereum ETFs received approval in July 2024 after a court supported Grayscale.

In addition to Bitcoin and Ethereum, asset managers such as Bitwise have pursued ETFs with increased dedication across various crypto assets. The asset manager has also submitted its registration documents to the SEC for Dogecoin, Aptos, Solana, and XRP ETFs. The firm demonstrates its continued interest in diversification through the NEAR filing, amid growing investor interest in altcoins.

Despite this momentum, the SEC delayed multiple ETF proposals, which include the Polkadot ETF from Grayscale and the HBAR ETF from Canary Capital. The extended review time highlights the regulator’s support for blockchain products: however, the agency follows a step-by-step evaluation process.

NEAR Price Responds Positively to ETF News

NEAR Protocol’s native token saw a significant price increase following the announcement of its registration for the ETF. According to CoinMarketCap data, the NEAR token saw a 6.5% price rise, with the current value at $2.60 per token. The NEAR token rose by more than 26% in the past week as investors showed confidence in the planned ETF development.

image 243
Source: CoinMarketCap

NEAR currently holds a market capitalization of about $3.14 billion, ranking it among the top 40 digital assets. Often referred to as “the blockchain for AI,” Near Protocol continues to position itself as a leading platform in the evolving blockchain sector.

Moreover, the proposed ETF by the asset manager would enable institutions to obtain direct exposure to the NEAR ecosystem after filing both S-1 and 19b-4 forms with the SEC. The proposed access would create better market participation and increased liquidity for the altcoin.

Bitwise Launches Four Crypto ETPs on London Stock Exchange

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  • Four Bitwise crypto ETPs are listed on the LSE for institutional investors.
  • Bitwise offers low-cost, high-liquidity Bitcoin and Ethereum ETPs.
  • LSE listing enhances access to cryptocurrency products across Europe.

Bitwise has listed four crypto exchange-traded products (ETPs) on the London Stock Exchange (LSE). These investment products provide institutional investors with direct exposure to Bitcoin, Ethereum, and Ethereum staking. This listing strengthens Bitwise’s position in Europe’s crypto investment market.

The ETPs consist of two Bitcoin products, an Ethereum product, and an Ethereum staking ETP. These products are only available to professional and wholesale investors in the United Kingdom. Their availability on the LSE provides easier access for professional traders across Europe.

Each ETP focuses on transparent pricing and low cost to meet the needs of institutional investors. Additionally, the products provide clear guidelines for institutional investors. Bitwise continues to expand its presence in the European market while it prepares for long-term growth.

Bitwise Bitcoin ETPs

The listed products include Bitwise Core Bitcoin ETP (BTC1), which offers a low Total Expense Ratio of 0.20%. The product promotes long-term investment because its NAV calculations are performed three times each day based on global market data. Moreover, it provides a long-term solution for primary market liquidity so investors can easily execute big trades.

The Bitwise Physical Bitcoin ETP (BTCE) is one of the most liquid Bitcoin investment products in Europe. This product has been traded on XETRA since 2020 and demonstrates solid asset under management performance. BTCE provides short-term and mid-term Bitcoin exposure to investors because of its low bid-ask spreads.

Bitwise Ethereum Products

The Bitwise Physical Ethereum ETP (ZETH) provides investors with direct exposure to Ethereum through cold-storage custody and independent trustee protection. The product provides investors with secure and transparent exposure to Ethereum. This ETP meets institutional standards and minimizes risks related to third parties.

The Bitwise Ethereum Staking ETP (ET32) accumulates daily staking rewards. The product aims to deliver low-cost ownership expenses and liquidity options. Additionally, the product tracks an actual benchmark, which allows users to measure performance with market standards.

Bitwise Expands Crypto Investment Products Portfolio

The LSE listing enables Bitwise to expand its business scope and provide secure crypto exposure to institutional investors. The European ETPs can now be traded on one of the top financial platforms in Europe. This achievement marks a major milestone in the integration of traditional finance with regulated cryptocurrency markets.

Bitwise’s approach seeks to meet the increased institutional demand for reliable, low-cost crypto investment products. The firm designs its products with deep expertise in both cryptocurrency and traditional finance. Bitwise offers regulated, transparent, and liquid crypto ETPs to boost adoption among professional investors.

Spot Bitcoin ETFs Bleed $127M Despite Market Rally on Tariff Pause

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  • U.S. spot bitcoin ETFs recorded $127.12 million in net outflows on Wednesday, despite substantial gains in equity and crypto markets.
  • The outflows followed Donald Trump’s 90-day pause on new tariffs and a reduction in specific trade duties.
  • BlackRock’s IBIT saw the highest outflows among bitcoin ETFs, with $89.71 million in redemptions during the trading session.

Despite a broad market rally, U.S. spot bitcoin exchange-traded funds recorded $127.12 million in net outflows on Wednesday, according to SosoValue. The withdrawals came after former President Donald Trump announced a 90-day pause on new tariffs and reduced some duties. However, the Bitcoin ETF showed weakness even as traditional and digital asset markets posted strong gains.

Bitcoin ETF outflow source- Soso value
Bitcoin ETF outflow source- Soso value

Bitcoin ETF Withdrawals Extend Losing Streak

BlackRock’s iShares Bitcoin Trust (IBIT) experienced a massive $89.71 million worth of withdrawals during Wednesday’s trading until 13:30 ET. The recent outflows caused a major change in investor perception toward the most well-known spot, Bitcoin ETF. The fund’s market performance demonstrated an absence of investment confidence among institutional investment groups during the general rise.

The ongoing withdrawals from spot Bitcoin ETFs stretched their five-day consecutive loss streak. The crypto market displayed positive trends, yet investors chose to withdraw money from leading Bitcoin ETF products. Market experts observed how ETF money movements were separate from the overall crypto asset price developments.

Doubts regarding U.S.-China trade policies and intergovernmental relationships possibly caused the funding slowdown. Trump’s tariff delay increased investment sentiment but did not restore optimistic behavior across all investment categories. According to investor perception, the ETF market appeared both manipulated to its capacity and exposed to future market swings.

Grayscale’s GBTC and Others Also See Withdrawals

The Bitcoin Trust of Grayscale experienced $33.8 million in net withdrawals during that day, keeping its ongoing stream of capital depletion active. The spot Bitcoin ETFs operated by VanEck and WisdomTree also experienced minor but steady withdrawals. The price increase, combined with favorable market conditions, did not stop these moves.

GBTC suffered from persistent capital loss after its transformation into a spot ETF while competing against newer funds. Negative market conditions coupled with policy uncertainty drive investors toward alternative bitcoin products, which results in decreased passive investment in bitcoin products overall. The financial markets displayed daily market gains as this liquidity movement took place.

Market approval became visible through strong increases among the Standard & Poor’s 500 and Nasdaq indexes. Crypto-related investment products remained behind other funds when measuring how selective investors approach their investments. The unresolved trade differences between China and the U.S. keep some traders in a watching stance.

Bitwise’s BITB Bucks Trend with Fresh Inflows

BITB from Bitwise stood unique as the sole spot Bitcoin ETF, which recorded inflows when it received $6.71 million on Wednesday. Market doubt and uncertainty did not deter investors from investing in this fund because they wanted to hold crypto for extended periods. The fund represents an essential member of emerging ETFs, attracting investors during market volatility.

The 3.08% increase in bitcoin trading during the reporting period resulted in a new high of $79,419, according to CoinMarketCap, when BITB received $6.71 million in funds. Ether demonstrated an 11.08% price increase during this period as it reached $1,617 levels, thus strengthening altcoin market sentiment. The market realized improved trade conditions and stronger equity valuations, which positively affected both cryptocurrencies.

BTC price source: CoinMarketCap
BTC price source: CoinMarketCap

Klefer’s Financial Services Limited attracted a small amount of investment to its BITB product, yet this movement indicated that investors only trusted specific ETF producers. Fund providers demonstrate different levels of success in attracting investment capital when macroeconomic factors evolve. Market actors will vary their portfolio distribution according to political events and regulatory changes.

Franklin Templeton Becomes the Largest Asset Manager to Files for Solana ETF

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  • Franklin Templeton files 19b-4 for Solana ETF pending SEC approval.
  • The filing positions Franklin Templeton as a major player in crypto ETFs.
  • Solana’s price sees a 2.5% rise amid growing institutional interest.

Franklin Templeton, one of the world’s largest asset managers, has filed for a Solana-based exchange-traded fund (ETF). The firm submitted a 19b-4 filing with the U.S. Securities and Exchange Commission (SEC) on March 12. This move makes Franklin Templeton the largest asset manager to file for a Solana ETF, with over $1.5 trillion in assets under management.

Franklin Templeton Pushes for Approval of Solana ETF

The 19b-4 filing is part of the two-step process for SEC approval of crypto ETFs. Once the SEC acknowledges the 19b-4 filing, it will publish it in the Federal Register. This publication marks the start of the SEC’s review process for the proposed ETF.

Franklin Templeton had recently registered a trust in Delaware to facilitate the potential launch. The firm aims to create a spot Solana ETF that will track the cryptocurrency’s price. Investors will be able to gain exposure to Solana without directly purchasing the digital asset.

The Franklin Solana Trust was established to support this initiative. It places Franklin Templeton among other asset managers that have filed for SEC approval for Solana ETFs. Other firms in this race include Grayscale, Bitwise, and VanEck which aim to leverage the growing demand for digital assets.

Franklin Templeton’s move follows a similar filing for an XRP ETF which highlights the firm’s ambitious interest in digital currencies. This effort signals the increasing institutional demand for diversified cryptocurrency investment products. The firm’s filings come amid a surge in crypto ETF applications, as regulators and firms explore digital asset options.

Increased Institutional Interest in Solana ETFs 

Moreover, the filing aligns with the growing number of altcoin ETF filings. Bloomberg analysts recently estimated that Solana ETFs have a 70% chance of SEC approval. This estimation places Solana behind only Litecoin and Dogecoin, which have higher approval probabilities.

Franklin Templeton’s entry into the Solana ETF race indicates the growing interest in the cryptocurrency market. Although analyst James Seyffart believes that such filings are expected, a major player like Franklin brings increased credibility to the Solana ETF space. The growing number of filings underscores the increasing institutional recognition of digital assets.

The price of Solana has increased by 2.5% in the past 24 hours, trading at $125.84. This reflects the growing optimism around Solana’s future, especially as more institutional players enter the market. 

The SEC is currently reviewing multiple altcoin ETFs filings. The commission’s response to this and other filings will set the tone for future institutional involvement in digital asset ETFs.

Bitcoin Ban Unlikely as U.S. Embraces Reserve Strategy, Says Bitwise CIO

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  • Matt Hougan emphasized that the U.S. Strategic Bitcoin Reserve would lower the chances of a government ban on it.
  • That move would likely push other nations to create their own Bitcoin reserves, accelerating global adoption.
  • It could challenge institutions like the IMF, making it harder to label BTC as risky or inappropriate.

The U.S. government’s move to establish a strategic Bitcoin reserve is making waves in the financial world. Bitwise Chief Investment Officer Matt Hougan sees it as a game-changer with far-reaching consequences. From shifting global policies to altering institutional perceptions, the move is more than just a policy shift.

One of the biggest implications, according to Hougan, is that the likelihood of a U.S. Bitcoin ban has dropped dramatically. By creating a reserve, the government is indirectly recognizing it as a legitimate asset within its financial system.

Other Nations May Follow the U.S. Lead

One of the most significant effects of this decision, according to Hougan, is the likelihood that other nations will follow suit. If the U.S. is holding BTC as a reserve asset, governments worldwide may rethink their stance and consider adding it to their own holdings.

This could set off a competitive rush, where nations race to accumulate before prices surge. Hougan suggested that the strategic reserve could act as a catalyst, accelerating its adoption on a global scale, with countries eager to avoid falling behind in a financial shift they can no longer ignore.

Coinbase CEO Brian Armstrong echoed this sentiment, stating, “I expect many of the G20 to take notice and eventually follow America’s leadership.”

Pressure to Move Before the U.S. Buys More

The establishment of a U.S. Bitcoin reserve also creates a sense of urgency among other governments. Hougan pointed out that there is now a short window where nations could move ahead of U.S. buying to secure BTC at current prices.

If countries wait too long, they risk purchasing it at significantly higher prices once the U.S. ramps up its acquisitions. This fear could drive an international buying spree, with governments scrambling to get in before a potential price surge.

With billions already held by the U.S., other governments may view this as a signal that Bitcoin is no longer just a speculative asset but a strategic necessity. That shift could push hesitant countries to act sooner rather than later.

Bitcoin’s perception in Financial Institutions Could Change

A U.S. Bitcoin reserve also has major implications for institutional perceptions. Hougan pointed out that it becomes much harder for organizations like the International Monetary Fund (IMF) or the European Central Bank (ECB) to dismiss Bitcoin as a risky asset. If the U.S. government considers it valuable enough to hold in reserve, arguments against it lose strength.

European Central Bank President Christine Lagarde has previously dismissed BTC for lacking liquidity, security, and reliability. However, with Washington taking an official position, that stance could soften. The global financial system follows America’s lead more often than not, and a shift in institutional perception could be on the horizon.

Ryan Rasmussen, Head of Research at Bitwise, echoed Hougan’s optimism, emphasizing that the end goal was never for the U.S. to own all of BTC. Instead, the aim was to encourage other governments to follow suit.

For financial institutions, pensions, and wealth managers, the move removes any lingering excuses for staying out of Bitcoin. The fear of the U.S. government dumping its $17 billion worth of BTC is also eliminated. As Rasmussen put it, “This changes everything.”

Related Readings | Sui (SUI) Positioned for Strong Price Surge as Institutional Interest Builds

Bitwise Expands European Offerings with Bitcoin and Gold Investment Product

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  • BTCG dynamically reallocates Bitcoin and gold based on market risk and performance.
  • The ETP is fully backed by physical Bitcoin and gold, secured in institutional custody.
  • Bitwise expands in Europe with BTCG, following its acquisition of ETC Group in 2024.

Bitwise launched a new exchange-traded product (ETP) which integrates Bitcoin’s growth potential with the stability of gold. The Bitwise Diaman Bitcoin & Gold ETP (BTCG) introduced its trading operations on Euronext, Paris and Amsterdam on March 6, 2025. The product adjusts exposure automatically between Bitcoin and gold assets according to market developments to provide combined digital and traditional asset investment opportunities.

Dynamic Asset Allocation with Monthly Rebalancing

The Bitwise Diaman Bitcoin & Gold ETP follows Diaman Bitcoin and Gold Index guidelines which use Bitcoin risk-adjusted performance to adjust its Bitcoin and gold positions. The index’s Bitcoin exposure boosts when market performance strengthens and shifts to gold when market volatility heightens. This method capitalizes on the cyclical nature of financial markets.

The investment tool performs monthly rebalancing through ULCER indexes and technical indicators to assess financial risks. The indices assist investors in deciding the optimal proportion between Bitcoin and gold investments which minimizes risk tolerance while sustaining capital growth. According to back-testing results, this approach demonstrates better results during market trend changes than traditional static allocation methods.

Fully Backed by Physical Bitcoin and Gold

The BTCG product bases its value completely on Bitcoin and Pax Gold (PAXG) digital assets, where PAXG locks up physical gold in LBMA-approved vaults. The assets reside in protected cold storage facilities run by an institutional custodian that guards against cyber attacks. The ETP is a German-issued product with an annual expense ratio of 1.49%.

The cryptocurrency product represents a Bitwise and Diaman Partners alliance, focusing on European digital investment management. Azimut supports Diaman Partners as its major European financial company which has established BTCG as a diversified investment tool for diversification.

The prevalence of gold as a crisis hedge asset is expected to remain unchanged through 2025 because Bitcoin faces substantial volatility alongside its brief investment trajectory. While Bitcoin offers technological innovation and a fixed supply which could appeal as a hedge against inflation its sharp price fluctuations and dependency on market sentiment and regulatory changes undermine its potential as a stable store of value.

image 33 19
Bitwise Expands European Offerings with Bitcoin and Gold Investment Product 7

Source; X

Bitwise Expands Its European Product Offerings

The BTCG launch occurs during Bitwise’s Europe-based growth strategy. The company purchased ETC Group in 2024 before rebranding its crypto ETP suite and launching new products including Bitwise Solana and Bitwise Aptos Staking ETPs. Bitwise is dedicated to supporting highly complex financial tools designed to serve institutional and retail investment clients.

Bradley Duke, the managing director and head of Bitwise Europe, says, “As crypto rapidly enters the mainstream, it is essential to provide investors with a full range of products, including hedging solutions that integrate traditional and digital assets.”

BTCG allows investors to access Bitcoin and gold through an initiative integrating risk management protocols. BTCG seeks investors who want stability and long-term potential returns by utilizing its allocation model backed by secure physical assets.

NYSE Arca Submits Filing to List Bitwise Dogecoin ETF Shares

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  • NYSE Arca filеd а 19b-4 form to list Bitwise’s Dogecoin ETF.
  • Coinbase will аct аs custodiаn; BNY Mеllon will hаndlе аdministrаtivе dutiеs.
  • Dogecoin’s pricе fеll ovеr 15%, dropping to $0.19, аmid а broаdеr mаrkеt sеll-off.

“Thе Nеw York Stock Exchаngе’s NYSE Arca hаs officiаlly submittеd а proposаl to list аnd trаdе shаrеs of thе Bitwise Dogecoin ETF. On Mаrch 3, а 19b-4 filing wаs mаdе with thе Sеcuritiеs аnd Exchаngе Commission (SEC), sеtting thе stаgе for potеntiаl аpprovаl. If givеn thе grееn light, this would аllow thе ETF to offеr dirеct еxposurе to Dogе whilе bеing trаdеd on а rеgulаtеd еxchаngе.

Bitwise, thе аssеt mаnаgеr bеhind thе proposеd fund, hаs structurеd it to trаck its pricе without rеquiring invеstors to dirеctly hаndlе thе cryptocurrеncy. According to thе filing, thе CF Dogecoin-Dollаr Sеttlеmеnt Pricе will bе usеd to cаlculаtе thе fund’s Nеt Assеt Vаluе (NAV) on а dаily bаsis. This pricing bеnchmаrk еnsurеs thе ETF аccurаtеly rеflеcts Dogecoin’s mаrkеt movеmеnts.

NYSE 1
Source: NYSE

Growing Optimism for a Dogecoin ETF in 2025

Coinbase hаs bееn nаmеd аs thе officiаl custodiаn for Dogecoin holdings, whilе Bаnk of Nеw York Mеllon will ovеrsее cаsh custody, аdministrаtivе dutiеs, аnd trаnsfеr functions. Unlikе trаditionаl cryptocurrеncy invеstmеnt modеls, this ETF will opеrаtе on а cаsh crеаtion аnd rеdеmption bаsis, mеаning invеstors cаnnot dеposit or withdrаw dirеctly.

This lаtеst dеvеlopmеnt follows Bitwise’s S-1 rеgistrаtion filing with thе SEC in Jаnuаry, signаling its intеnt to bring а Dogecoin ETF to mаrkеt. Approvаl would mаrk а significаnt milеstonе, mаking it onе of thе first mеmеcoin-focusеd ETFs in thе Unitеd Stаtеs. 

Bеtting mаrkеts аrе incrеаsingly optimistic аbout thе ETF’s аpprovаl prospеcts. Polymаrkеt, а blockchаin-bаsеd prеdiction plаtform, currеntly plаcеs thе odds аt 67%, up from 55% just а dаy prior. Bloombеrg аnаlysts аrе еvеn morе bullish, еstimаting а 75% chаncе of rеgulаtory аpprovаl in 2025.

DOGE
Source: Polymarket

Dogecoin Price Slumps Despite Filing

Dеspitе thе growing еxcitеmеnt, DOGE’s mаrkеt pricе hаs not rеspondеd positivеly. Following thе NYSE Arca filing on Mаrch 3, thе cryptocurrеncy droppеd by morе thаn 15%, sinking to $0.19. Thе broаdеr crypto mаrkеt hаs аlso suffеrеd lossеs, еrаsing gаins thаt stеmmеd from Donаld Trump’s Mаrch 2 crypto-rеlаtеd аnnouncеmеnt.

DOGE 1D graph coinmarketcap 17
Source: CoinMarketCap

Thе rеgulаtory еnvironmеnt for crypto-bаsеd ETFs is shifting, with multiplе аpplicаtions undеr rеviеw. Thе SEC’s dеcision on Grаyscаlе’s Dogecoin Trust, аcknowlеdgеd on Fеbruаry 13, is еxpеctеd аround mid-Octobеr, mаrking аnothеr kеy dеаdlinе for potеntiаl Doеcoin ETF аpprovаls.

In а pаrаllеl dеvеlopmеnt, Nаsdаq hаs еntеrеd thе rаcе, submitting а proposаl on Mаrch 3 to list thе Grayscale Hedera Trust, which will trаck HBAR, thе nаtivе tokеn of thе Hеdеrа Nеtwork. A similаr Hеdеrа ETF, bаckеd by Cаnаry Cаpitаl, wаs filеd in lаtе Fеbruаry.

Thе surgе in crypto ETF аpplicаtions is not limitеd to Dogecoin or Hеdеrа. Sеvеrаl issuеrs hаvе submittеd proposаls for funds trаcking populаr аltcoins such аs Solаnа (SOL), Cаrdаno (ADA), Polkаdot (DOT), Litеcoin (LTC), аnd XRP. This wаvе of аpplicаtions follows а crypto-friеndly shift in rеgulаtory аttitudеs, rаising hopеs for broаdеr ETF аpprovаls in thе nеаr futurе.

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