Bitwise presented corrections to his form before the US SEC.
The fact that the SEC asks for corrections is indicated that there is a will to approval.
Bitwise has taken a new step in his attempt to launch a Dogecoin ETF (Doge), by presenting an amended version of the S-1 form before the United States Stock Exchange and Securities Commission (SEC).
The change was released this June 25 and reflects a key update: the inclusion of the creation and reimbursement of funds in kind, A mechanism that was not contemplated in the original application.
The creation and reimbursement of funds in kind is a mechanism used in the ETFs that allows participants to directly exchange the underlying assets – in this case, Doge – for the actions of the background, and vice versa, without the need to use cash. This improves the operational efficiency of the ETF, reduces fiscal costs and facilitates that the fund value reflect more precisely the price of the asset it represents.
This advance It occurs five months after Bitwise first introduced his ETF application for Doge, as Cryptonoticia reported in January. The updated document suggests that the SEC is actively interacting with the issuerwhich is usually interpreted as a positive signal within the regulatory process because, far from indicating rejection, it tends to reflect willing to continue evaluating the proposal.
The ETF proposed by Bitwise would allow investors to have exposure to the Doge price through a traditional brokerage account. According to the document, the fund will not use financial derivatives. Instead, it seeks to offer direct access to the Doge market, avoiding technical barriers or risks associated with individual cryptocurrency custody.
This is the second formal proposal for a Dogecoin ETF recently presented to the SEC. In January, the Rex Shares investment firm, together with Osprey Funds, also income A similar application.
In parallel to this amendment, Bitwise presented A modified application to list an ETF of Aptos (APT), whose first presentation took place on March 5. Aptos is a cryptocurrency centered on the scalability and reliability of intelligent contracts, developed by former members of the Meta team in charge of the failed Diem Project.
The SEC has not yet issued public comments on these proposals.
