Bitwise filed for a Dogecoin ETF with the SEC, marking the first physically backed structure for the meme coin under the ’33 Act. The filing follows the company’s Delaware corporate registration last week.

ETF analyst Eric Balchunas noted, “this is the first Dogecoin ETF registered under the ’33 Act, making it a true physically backed structure.”

The move follows Rex Shares’ filing last week for a series of ETFs targeting multiple digital assets, including Dogecoin, Solana, Ethereum, Bitcoin, XRP, Trump, and Bonk.

The proposed ETF aims to provide direct exposure to DOGE through secure custody services and transparent valuation mechanisms. The fund would include a management fee and incorporate measures to address price volatility and liquidity risks.

Dogecoin’s price remained stable at $0.32, showing no immediate reaction to the filing.

Analysts attribute the muted market response to heightened caution, as DeepSeek fears have led the market to adopt a more cautious approach.