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Bitwise Asset Management is preparing to launch a Dogecoin-focused exchange-traded fund (ETF) by registering a Delaware statutory trust. Following the news, Dogecoin’s value dropped by 5%, resulting in $11 million in trader liquidations. Bitwise’s filing is seen as a preliminary step towards introducing a Dogecoin ETF, amid a growing institutional interest in crypto-related ETFs. Balchunas predicts spot Bitcoin ETFs will dominate the market despite the influx of filings.
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