SEC Extends Review Period for Bitwise Dogecoin ETF
In a recent update from the Securities and Exchange Commission (SEC), a proposed rule change submitted by NYSE Arca, Inc. concerning the Bitwise Dogecoin ETF will now have an extended review period. The SEC announced on April 29, 2025, that it has decided to lengthen the timeframe for evaluating the proposed listing and trading of shares in this cryptocurrency-focused exchange-traded fund, initially filed on March 3, 2025.
Details of the Proposal
The proposed ETF was first brought to public attention via a notification posted in the Federal Register on March 17, 2025. As mandated under the Securities Exchange Act of 1934, the SEC is obliged to make a decision within 45 days of disclosing such changes. Therefore, originally set for May 1, 2025, this deadline will now be extended to June 15, 2025. This extension allows the SEC ample opportunity to thoroughly assess the complexities and implications of the proposed rule change.
Regulatory Insights
Section 19(b)(2) of the Securities Exchange Act permits the Commission to designate a lengthier timeframe up to 90 days when deemed necessary, particularly when it raises specific issues warranting additional scrutiny. This strategic move reflects the Commission’s commitment to ensuring thoughtful consideration of significant matters in the evolving landscape of cryptocurrency investments.
Conclusion
For further information on public comments regarding the proposed rule change, please refer to the official SEC documents available online. These developments point to the growing interest and regulatory focus on digital assets in the financial markets, particularly as more investment vehicles enter this rapidly changing sector.
