Key Takeaways
- Bitwise to launch a new spot ETF for Dogecoin.
- Bitwise makes use of Section 8(a) in a brilliant move to speed up the process.
- DOGE prices drop after a brief surge.
- Profit-taking has impacted DOGE’s price.
- Traders must exercise caution amidst the ETF launch news.
A spot ETF for Dogecoin under the ticker symbol BWOW may soon be launched under the watchful eyes of Bitwise. In a smart move, Bitwise has made use of the Section 8(a) automatic-approval rule. This allows Bitwise to have the ETF up in the market pending no SEC(Securities and Exchange Commission).
What are the implications of this ETF if approved? We will take a look at this matter by dissecting what the industry experts and analysts have to say.
Growing Interest in Memecoin ETFs
BWOW may not be the first Dogecoin ETF in the market. Rex-Osprey, another financial asset management company, had released the first Dogecoin ETF under the ticker symbol DOJE. This launch happened in September 2025. This was a significant move as a memecoin was able to enter the ETF space for the first time.
With Bitwise, a multi-million dollar giant entering the ring, the atmosphere is rather tense. The increasing institutional interest is a good thing and will spark a very hefty competition. All of this translates to one fact: digital assets are slowly getting adopted by institutional funds and are moving into mainstream finance.
What is Happening in the Background
Since last week saw the debut of Solana, Litecoin, and Hedera’s ETFs on Wall Street, Bitwise thought of introducing memecoins into the equation. It came as a surprise to many industry experts since the institutional adoption of a memecoin was something radically different from what had happened in the past.
Since Section 8(a) can fast-track the launch, many asset management firms are now following in the footsteps of Bitwise. Grayscale has amended its Spot ETF filing for DOGE.
However, all was not good in the regular market as the prices decoupled rapidly. When the news first came out, DOGE made a slight comeback. This comeback caught the interest of whales who sold off their large holdings, causing the price to drop back down despite the possible ETF launch scenario.
The profit-taking had taken a toll on DOGE’s price. The price fell by 2.4% to $0.1634 over a day’s time. This is a crucial matter as support was set on the $0.167 mark. DOGE easily broke through this support, which led to the formation of lower highs consistently.
However, the sharpest price change occurred at 15:00 GMT. At this point, the volume had surged to 793.4 million DOGE. This was a volume rise of 150% above the average. This drove the DOGE price downwards to the rate of $0.1590.
$0.1639 posed as a serious resistance point since it thwarted multiple bounce-back attempts.
What to Watch Out For During Growing ETF Sentiment
Presently, DOGE is in a critical situation. It has to maintain the key support levels of $0.1575-$0.1615. ETF-driven sentiment may build up momentum; however, traders should keep an eye out for other market factors as well.
The 20-day delay could become a serious deal breaker in the case of DOGE. The SEC can intervene at any moment, especially since the matter is regarding yet another spot memecoin ETF.
This 20-day countdown can perform the role of a volume booster. However, the technical indicators have something else to say. The key resistance posed by the $0.1674 level needs to be surpassed before expressing good confidence in the ETF sentiment.
Even with the strong ETF momentum, if the whales who have a large source under their control start an outflow, it may stop the potential ability of DOGE to make a bull run by mid-November.
Final Thoughts
With the SEC pending approvals, the bypass path opened in the form of Section 8(a). However, the 20-day waiting period still marks a risk zone. If the SEC is to introduce serious amendments in the coming days, the chances for Bitwise’s DOGE spot ETF launch will strengthen.
However, even though the news regarding the launch sparked a small bullish rise, the whales got involved, and the prices went down. So traders need to exercise caution in the coming days. The market can shift directions if the large wallets make an outflow. So, for the moment, the best option is to rely on the technical indicators and make sure that DOGE isn’t breaking any more key support levels.
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