Bitwise’s spot Dogecoin ETF could launch within 20 days through an automatic approval process, marking a significant milestone in crypto institutionalization.
Bloomberg ETF analyst Eric Balchunas reported that Bitwise is utilizing Section 8(a) of the Securities Act, which allows registration statements to become effective automatically unless the SEC intervenes. This development occurs amid subdued DOGE prices, highlighting a disconnect between market performance and institutional adoption.
Section 8(a) Strategy Accelerates DOGE ETF Timeline
Bitwise’s approach leverages a regulatory pathway that bypasses traditional approval mechanisms. According to Balchunas, “Bitwise filed an 8(a) for its Doge ETF, which starts a 20-day countdown to it going effective (unless SEC steps in).”
Grayscale has similarly submitted amended filings for its spot Dogecoin ETF, initiating comparable countdown periods. Last week, three crypto ETFs tied to SOL, LTC, and HBAR made their Wall Street debut. These established precedents for altcoin investment vehicles beyond Bitcoin and Ethereum.
The Section 8(a) mechanism enables automatic effectiveness after a specified period, unlike the traditional 19b-4 exchange rule approval process. However, the SEC retains authority to intervene if regulatory concerns arise, creating uncertainty despite the procedural advantage.
Price Decline Contradicts Institutional Interest
DOGE fell from a high of $0.297 in September to $0.155, representing a peak decline of 48%. This downward trajectory stands in stark contrast to accelerating institutional product development. The divergence indicates that ETF development timelines operate on fundamentally different cycles than speculative trading patterns.
DOGE price chart: Coingecko
Market analysts note that meme coin volatility differs substantially from that of established cryptocurrencies. DOGE’s price movements remain heavily influenced by social media sentiment and retail trading activity. The pending ETF approval may represent a maturation inflection point at which institutional demand begins to exert greater influence on price discovery.
Institutionalization Reshapes Meme Coin Market Structure
The progression toward DOGE ETF approval signals a structural transformation in how meme coins integrate into regulated financial systems. Bloomberg analysts estimate the probability of XRP ETF approval at 95% and the DOGE ETF at 90%, reflecting regulatory comfort with meme-coin investment products. Industry observers anticipate over 200 crypto ETF approvals by mid-2026, suggesting the current wave represents the initial stages of comprehensive altcoin institutionalization.
ETF structures offering in-kind creation and redemption provide tax efficiency and cost advantages for institutional investors. The shift from speculative asset to investment product fundamentally alters DOGE’s market positioning, potentially attracting capital flows previously excluded by custody or compliance restrictions.
