Crypto Asset Manager Bitwise uploaded a file to launch a exchange trading fund (ETF) related to the price of Dogecoin (Doge), Record With the United States. The Securities and Exchange Commission on Tuesday.
This file is a S-1 file, which is a requirement for the issuance of new security and listed on the public stock exchange.
Earlier this month, investment manager Rex Sharing and Merlon Fund Submit a document work for several encrypted ETFs, including Dogecoin in other factors.
However, the application of Bitwise is different because it is mentioned based on the ’33 ACT, not the Act 40, and REX and Osprey are proposed under Bloomberg and Bloomberg intelligence analyst Eric Balchunas. Point outEssence
According to the S-1s submitted by the “33rd Law”, it is usually used for product-based ETFs, and the documents submitted by the “40 Act” provide more powerful investor protection because it requires the issuer to meet the further SEC rules. For example, the “40 Act” limits the role of leverage and short -term sales, and requires more stringent trust supervision and governance.
Bitwise is a publisher of several encrypted ETFs, and there are multiple applications, one of which is used for it XRP (XRP) ETFEssence
Although the S-1 file is the first step to start ETF, the more critical filing is 19B-4, which is necessary to list the rules that are required to invest in the rules required for changes required. Last period.
Although Memecoin ETF is an investment tool that is almost unimaginable under the SEC of Gray Gensler, it makes it difficult for issuers to launch Bitcoin ETFs, but the possibility of such funds seems more likely to be more likely than President Donald Trump.
Trump not only guarantees the policy of encrypted friendship, but also after that Release your own membersTrump and Melania, obviously the president is a fan of adults.