Sec again delays verdict for ETF dogcoin proposed by Bitwise

The Sec postponed the verdict on the request for Bitwise To list an ETF Dogecoin, while Rex Shares and Osprey Funds They will debut tomorrow with a similar fund under a different legal framework.

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• The Sec extended the deadline to decide on ETF Dogecoin of Bitwise.
• REX SHARES AND OSPREY They debut tomorrow with the first ETF Dogecoin under the law of 1940.
• The stock regulator still looks with some caution applications for ETF based on Altcoins.

The United States Stock Exchange and Securities Commission (SEC) again delayed his verdict, regarding the request for Bitwise To list a quoted bottom (ETF) background based on Dogecoin.

The regulator reported in a document presented today, reviewed by several media, which requires “A longer period” before approved or reject the change of regulations that would allow progress with the project. This is the same response that has given other similar applications submitted for both funds based on Dogecoin as in other Altcoins.

The proposal of Bitwise He had already faced a delay in June, reflecting the caution of the Sec against requests related to non -traditional digital assets. However, since similar measures have been applied for other applications, it is clear that regulatory uncertainty is not limited to a single project.

The new president of the Sec, Paul Atkins has promised a more open vision towards digital assets. However, almost 100 applications for Cryptocurrency ETFs in cash are still waiting for a verdict, indicating that regulatory pressure continues to be an obstacle to emitters and investors.

REX and OSPREY They advance with Doje

Meanwhile, Rex Shares and Osprey Funds They found an alternative way to list an ETF Dogecoin. The fund, which will be marketed under the Ticker Doje, is scheduled to start quoting this week. Unlike the project of Bitwise, It relies on the 1940 investment societies law, that regulates collective investment funds in the United States and seeks to protect investors from possible conflicts of interest and fraud.

The new ETF leaflet details that investors will obtain exposure to Dogecoin through a subsidiary organized in the Cayman Islands, called Rex-Osprey Doge (Cayman) Portfolio Sp. This structure allows indirect access to the asset within an existing regulatory framework.

Bloomberg analyst Eric Balchunas commented on his X account that “It seems that the era of the ETFs of Memecoins with Doje is about to begin, which will be launched on Thursday under the law of 40”. He added that it is, with high probability, the first ETF in the United States that sustains an asset that “It has no use on purpose.”

Market context

The launch of ETF DOJE It represents a significant step for the so -called memecoins, assets that emerged from online communities and that, despite criticism about their lack of practical utility, have gained broad popularity and speculative interest. In this case, the strategy of REX and OSPREY It could open the door for other emitters to find alternative legal paths while traditional spot applications face delays.

Meanwhile, for Bitwise The road is still uncertain. The dependency of the approval of the Sec It limits its ability to attract institutional investors looking for regulated products and listed in traditional markets. However, the appearance of Doje It will mark a precedent that could alter competitive dynamics.

The contrast between the regulator delay and the imminent exit to the market of Doje Ask questions about how cryptocurrency regulation in the United States will evolve. Although the Sec has shown resistance, the debut of an ETF Dogecoin Under an alternative framework indicates that financial innovation continues to find ways to overcome barriers.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of Unspash.

WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.

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