PANews reported on January 29 that Bitwise has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) that tracks the price of Dogecoin.

According to the S-1 filing Bitwise submitted to the SEC on January 28, the proposed Bitwise Dogecoin ETF will hold Dogecoin and closely track its price movements.

James Seyffart, ETF analyst at Bloomberg, said Bitwise had applied to register the Dogecoin Trust Fund in Delaware on January 22. "But this time it is a formal application to the SEC."