Bitwise Files for Dogecoin ETF
Ticker: BWOW · Form: S-1 · Filed: Jan 28, 2025 · CIK: 2053791
| Field | Detail |
|---|---|
| Company | Bitwise Dogecoin Etf (BWOW) |
| Form Type | S-1 |
| Filed Date | Jan 28, 2025 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $1.235 billion, $1.0 billion |
| Sentiment | neutral |
Sentiment: neutral
Topics: etf, cryptocurrency, dogecoin, sec-filing
Related Tickers: BITW
TL;DR
Bitwise is launching a Dogecoin ETF, get ready for crypto exposure.
AI Summary
Bitwise Dogecoin ETF filed an S-1 registration statement with the SEC on January 28, 2025, to register shares for public sale. The ETF, incorporated in Delaware and managed by Bitwise Investment Advisers, LLC, aims to provide investors with exposure to Dogecoin. The filing indicates the offering will commence as soon as practicable after the registration statement becomes effective.
Why It Matters
This filing signals a potential new investment vehicle for Dogecoin, allowing traditional investors to gain exposure through a regulated ETF structure.
Risk Assessment
Risk Level: medium — The risk level is medium due to the inherent volatility of cryptocurrency assets like Dogecoin and the regulatory uncertainties surrounding digital asset ETFs.
Key Numbers
- 333-284553 — SEC File Number (Identifies the specific registration filing with the SEC.)
Key Players & Entities
- Bitwise Dogecoin ETF (company) — Registrant
- Bitwise Investment Advisers, LLC (company) — Manager
- Dogecoin (company) — Underlying Asset
- SEC (company) — Regulator
- January 28, 2025 (date) — Filing Date
- Delaware (location) — State of Incorporation
- 250 Montgomery Street, Suite 200 San Francisco, California 94104 (address) — Principal Business Address
- (415) 707-3663 (phone_number) — Business Phone Number
FAQ
What is the primary purpose of this S-1 filing?
The primary purpose is to register shares of the Bitwise Dogecoin ETF for public sale, as required by the Securities Act of 1933.
Who is the investment adviser for the Bitwise Dogecoin ETF?
Bitwise Investment Advisers, LLC, located at 250 Montgomery Street, Suite 200, San Francisco, California 94104, is the investment adviser.
When was this S-1 registration statement filed with the SEC?
The registration statement was filed with the SEC on January 28, 2025.
In which state was the Bitwise Dogecoin ETF incorporated?
The Bitwise Dogecoin ETF was incorporated in Delaware.
When is the proposed sale of shares to the public expected to commence?
The proposed sale to the public is expected to commence as soon as practicable after the effective date of this Registration Statement.
Filing Stats: 4,435 words · 18 min read · ~15 pages · Grade level 15.1 · Accepted 2025-01-28 16:12:28
Key Financial Figures
- $1.235 billion — o; upon the earliest of (i) when it has $1.235 billion or more in annual revenues; (ii) when i
- $1.0 billion — of 1934; (iii) when it issues more than $1.0 billion of non-convertible debt over a three-ye
Filing Documents
- ea0228742-s1_bitwise.htm (S-1) — 1057KB
- ea022874201ex3-1_bitwise.htm (EX-3.1) — 24KB
- ea022874201ex3-2_bitwise.htm (EX-3.2) — 20KB
- ea022874201ex-fee_bitwise.htm (EX-FILING FEES) — 33KB
- ex3-2_001.jpg (GRAPHIC) — 14KB
- cover_001.jpg (GRAPHIC) — 11KB
- filename8.htm (COVER) — 8KB
- 0001213900-25-007545.txt ( ) — 1179KB
Risk Factors
Risk Factors 10 DOGECOIN, DOGECOIN MARKET AND REGULATION OF DOGECOIN 57 THE TRUST AND DOGECOIN PRICES 64 Calculation of NAV 70 ADDITIONAL INFORMATION ABOUT THE TRUST 72 The Trust’s Service Providers 77 Custody of the Trust’s Assets 80 THE PRIME EXECUTION AGENT AND the TRADE CREDIT LENDER 82 Form of Shares 88 Transfer of Shares 89 Plan of Distribution 90 Creation and Redemption of Shares 91
Use of Proceeds
Use of Proceeds 96 INTEREST IN THE TRUST 97 Conflicts of Interest 98 FIDUCIARY AND REGULATORY DUTIES AND OBLIGATIONS OF THE SPONSOR 99 Liability and Indemnification 101 Provisions of Law 103 Management; Voting by Shareholders 104 Meetings 104 Books and Records 104 REPORTS TO SHAREHOLDERS 105 Fiscal Year 105 GOVERNING LAW; CONSENT TO DELAWARE JURISDICTION 105 Legal Matters 106 Experts 106 Material Contracts 106 UNITED STATES FEDERAL INCOME TAX CONSEQUENCES 113 Purchases By Employee Benefit Plans 119 Information You Should Know 121 SUMMARY OF PROMOTIONAL AND SALES MATERIAL 121 Intellectual Property 122 Where You Can Find More Information 122 Privacy Policy 123 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 124 125 This Prospectus contains information you should consider when making an investment decision about the Shares. You may rely on the information contained in this Prospectus. The Trust and the Sponsor have not authorized any person to provide you with different information and, if anyone provides you with different or inconsistent information, you should not rely on it. This Prospectus is not an offer to sell the Shares in any jurisdiction where the offer or sale of the Shares is not permitted. The Shares are not registered for public sale in any jurisdiction other than the United States. i REGARDING FORWARD-LOOKING STATEMENTS This Prospectus includes “forward-looking by terminology such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or the negative of these terms or