Crypto Asset Manager Bitwise has loaded documents to launch a bottom quoted in the stock market (ETF) linked to the price of Dogecoin (Doge), a presentation before the US. UU. The Bolsa and Securities Commission on Tuesday shows.
The presentation, an S-1 document, is a requirement for companies that seek to issue a new security and appear in a public stock exchange.
Earlier this month, Rex Investment Administrators Actions and funds of fishermen eagles presented paperwork for several cryptographic ETFs, including Dogecoin among other memecutes.
However, Bitwise’s presentation differs in the fact that it is presented by virtue of the law ’33 compared to Law 40, which Rex and Osprey presented, said ETF senior analyst from Bloomberg Intelligence, Eric Balchunas.
The S-1 presented under the law ’33 are typically used for ETFs based on basic products, while the presentation of Law 40 provides a more solid investor protection, since it requires that the issuer complies with Other rules of the sec. Law 40, for example, limits leverage and short sale and requires fiduciary supervision and stricter governance, among other things.
Bitwise is the emitter of several cryptographic ETFs and has several pending applications, including one for an XRP (XRP) ETF.
Although the S-1 documents are a first step in the launch of an ETF, the most crucial presentation is 19B-4, which is required to indicate a change of rule required in the stock exchange that seeks to enumerate the investment and links The SEC with a strict deadline.
While Memecoin’s ETFs were an almost unthinkable investment vehicle under Gray Gensler SEC, which cost the emitters to launch a Bitcoin ETF spot, the possibility of such funds now seems more likely that never after the inauguration of President Donald Trump
Trump has not only promised friendly policies with cryptographic, but after the launch of his own memecoins, Trump and Melania, it is clear that the president himself is a Memecoins fan.
