The world’s most recognized Memcoin ETF is set to be under the umbrella, NYSE ARCA has officially filed a request of 19B-4 with the US Securities and Exchange Commission (SEC), which seeks permission to list and trade bitwaiz dogcowine ETFs. If approved, the product will first represent one of the US-listed dogcoin-focused exchange-traded funds, providing regulated access to a token that began as an internet parody, but has developed in a multibilian-dollar digital property.
Dogcoin etf gets closer one step
On March 3, the subsidiary of the New York Stock Exchange submitted a formal proposal-known as 19B-4-SEC will allow the bitwaiz ETF to be listed under the NYSE ARCA Rule 8.201-E to consider the rules changes to the SEC, which controls the comfort-based trust shares.
The filing states: “According to the provisions of Section 19 (B) (1) of the Securities Exchange Act of 1934, as amended (‘Act’ or ’34 Act ‘) and in Rule 19B-4, NYSE Arca, Inc. TRUST ‘(Business shares are proposed for’ Trust ‘.
Bitwaiz initially indicated his intentions by filing an S -1 registration form with SEC in late January, underlining his plan to launch a dogcoin ETF. Now, the 19B-4 filing is the next important step in the regulatory process, which enables SEC to start a formal review period.
One of the standout elements of Bitwaiz’s proposal is an institutional infrastructure behind it. Coinbase custody is designed to serve as Custodians for Dogi Holdings of Fund, which protects the cryptocurrency. Meanwhile, the Bank of New York Melon (BNY melan) is expected to oversee cash custody, administration and record-map, to ensure that traditional financial mechanisms are applicable.
The ETF is designed to use cash works and redemption, which means that investors will not be able to directly contribute or receive. According to the filing, the fund CF will track the price of dogcoin using the CF Dogcoin-Dallement Price, a pricing benchmark that calculates the daily net asset value (NAV) of the market price of the token.
Bitwaiz is not alone in chasing a dogcoin ETF. Grassscale and Rex shares have also made proposals for similar products. In particular, the Dogi ETF filing of Grassscale has already been accepted by SEC, which is an important milestone towards potential approval. For Grassscale, the official “acknowledgment” triggers a formal vomiting count to review the regulator and decide, which holds a potentially final decision window around mid -October.
As SEC weighs these proposals, market supervisors have become increasingly optimistic that 2025 can see a dogcoin ETF approval. According to prophecy markets, in recent weeks, audities have climbed to a great extent. Bloomberg’s analysts have also weighed, indicating that any dogcoin ETF approval can be up to 75%.
At the press time, Dogi traded at $ 0.19.
Image made with Dall.E, chart from traudingview.com
