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Bitwise Files S1 for Dogecoin ETF With US SEC

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Asset management firm Bitwise is pushing its crypto ETF agenda with a new filing targeting Dogecoin (DOGE). The firm has officially submitted the S-1 registration statement with the United States Securities and Exchange Commission (SEC) for the Bitwise Dogecoin ETF.

Bitwise Dogecoin ETF Is Inevitable

As per the US SEC prospectus, this new filing comes with no defined ticker symbol yet, and the firm has yet to confirm the trading platform it will list. However, Bitwise said the new fund is designed to provide exposure to DOGE, the industry’s largest memecoin. 

Bitwise said the fund will hold Dogecoin directly and establish the ETF product’s Net Asset Value (NAV). It confirmed that the Fund will rely on the Dogecoin-Dollar settlement benchmark provided by the CF trading platform. Other key details, like the sponsor fee, remains unannounced. 

This Dogecoin ETF filing comes barely a week after Bitwise initiated its first move for the asset. As reported by CoinGape, it registered a legal entity for the DOGE ETF, sending the coin’s price up at the time.

Commenting on the S-1 filing, Bloomberg Senior ETF Analyst James Seyffart noted that a Bitwise DOGE ETF remains inevitable.

Dogecoin ETF Comes After Multiple Crypto ETF Filings

Earlier this week, CoinGape reported that Tuttle Capital filed for a new crop of crypto leverage ETF products with the SEC. Some unusual coins in the filing include Solana, XRP, Litecoin, BONK, TRUMP, MELANIE, Chainlink, Polkadot, and Cardano ETF. The asset management firm misspelled “BNB” as “BNP” as the 10 crypto-linked ETF products in the filing.

In about 24 hours, Tuttle Capital withdrew the initial leverage ETF filing. It then submitted another to show it is also pushing for a BNB ETF product. The speculation surrounding Dogecoin ETF is picking pace amid connection with Elon Musk’s Department Of Government Efficiency (DOGE).

The US SEC has continued to see a growing number of crypto ETF filings. Analysts say these diverse products are the issuer’s way of testing the regulator’s boundaries. Some believe that with the new pro-crypto leaders at the markets regulator, these crypto ETF products will gain approval.

Coins With Best ETF Approval Odds

Despite the growing number of crypto ETF products being filed with the US SEC, experts believe Litecoin, XRP, Solana and Dogecoin ETF products have the best offs of approval. Beyond their respective market capitalizations, technology, and ecosystem, some of these coins have ETPs tracking their prices.

Experts believe these assets have attained maturity, and the SEC may consider them so. Mark Uyeda formed a crypto task force after his appointment as acting Chairman of the US SEC. ETF experts remain convinced that this task force by Hester Peirce will play a major role in determining which crypto ETF  scales through.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Shiba Inu Burn Rate Jumps 280% With 12M SHIB Destroyed, What Lies Ahead?

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January 30, 2025

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The Shiba Inu burn rate again witnessed a remarkable 280% surge on Thursday, igniting bullishness among investors amid a broader market recovery. Latest burn statistics indicated that roughly 12 million coins were taken out of the asset’s supply, causing the abovementioned surge. As a result, market watchers weigh optimism on the meme token’s future potential.

Shiba Inu Burn Rate Shoots Up 280%, What’s Happening?

According to the data offered by Shibburn on X as of January 30, the Shiba Inu burn rate witnessed a 284% uptick in the past 24 hours. The massive surge comes primarily from 12.5 million tokens that were permanently removed from the circulating supply.

Shiba Inu burn dataShiba Inu burn data
Source: Shibburn

For context, the SHIB burn mechanism sends tokens to a null address, thereby making it impossible to recover. In turn, the circulating supply shreds, with traders and investors anticipating a bullish impact on price mirroring the law of supply and demand.

As of press time, the meme coin’s total supply was evaluated to be 589.25 trillion SHIB after taking a hit.

Community Advancements Bolster Market Sentiment

Further, recent community developments have offered additional market support to the meme crypto. Intriguingly, the Shiba Inu community recently rolled out ShibOS in an effort to boost market sentiment.

The ShibOS is a blockchain-based operating system offering individual platforms for various use cases. As a response to the launch, market sentiments towards the dog-themed meme token remain optimistic, further escorted by the recent Shiba Inu burn surge.

SHIB Price Jumps

At the time of reporting, SHIB price witnessed a 1% increase in value and is currently trading at $0.00001863. Its 24-hour low and high were $0.00001785 and $0.00001878, respectively.

The current upward trajectory falls in line with the Shiba Inu burn rate surge, whereas even the broader market trend backs it. Crypto prices on Thursday showed signs of recovery despite unchanged interest rates by the U.S. Fed. The broader trend has solidified hope for the meme token’s future, whilst recent advancements back it.

A recent Shiba Inu price analysis by CoiGape further revealed that the token rebounded as the market digested the U.S. Fed’s latest decision. The next critical resistance zone is at $0.000019, a level much-eyed by investors. Given that recent developments reinforce market support ahead, the dog-themed meme coin could see a rise above this resistance, paving the way for further gains.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Mind of Pepe Presale Hype Grows as OpenAI Faces Competition

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1 hour ago

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January 30, 2025

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The dust DeepSeek made hasn’t even settled as another Chinese company, Moonshot AI, rolled out its latest model, Kimi k1.5.

Kimi outshines GPT-4, Claude, and even DeepSeek on all key benchmarks, namely, in math, coding, and reasoning.

While Nvidia and OpenAI are having a rough time following the news, the AI crypto market is still on the rise, including the new AI agent MIND of Pepe.

Let’s unpack the good, the bad, and the ugly of the current situation in the AI sector.

Kimi Sets a New Standard for AI Models?

For a long time, US tech giants dominated the AI industry, but Chinese competitors are now spitting out AI models like hotcakes.

Kimi is a multimodal AI that processes text, code, and visual inputs, which gives it an advantage over DeepSeek, which only understands text.

If you’ve ever asked ChatGPT to solve a mathematical problem, you know its capabilities are dubious at best. Kimi, on the other hand, scored 96.2 at the MATH 500 benchmark and 94% on the Codeforce platform.

The model employs Reinforcement Learning (RL) to improve decision-making through self-rewards, which essentially means it figures out what works best by trial and error.

What’s even more impressive, Moonshot AI spent just a fraction of ChatGPT’s cost to develop the model.

Nvidia stock already took a hit on the back of the DeepSeek launch with a 14.53% five-day dip. Although the model uses Nvidia chips, it appears the company is too closely tied to US tech giants in investor eyes. And Kimi added fuel to the fire.

Meanwhile, AI tokens are doing great. The sector’s market cap grew by 2.82% and the trading volume by 8.98% in the past 24 hours.

AI token sector growth

This discrepancy shows that the AI crypto sector exists in parallel with the broader industry. For traditional AI giants, the rise of new models is a threat; however, for crypto AI, it’s an engine for innovation.

MIND of Pepe ($MIND) Promises Unbiased, Data-Driven Market Insights

One AI project that’s currently gaining momentum in the crypto space is MIND of Pepe ($MIND) – a self-sovereign agent that analyzes market data to deliver exclusive insights to its token holders.

On top of that, $MIND autonomously interacts with influencers and traders on social media to gauge broader sentiment.

Emotions and bias can ruin any trading strategy. Unlike human investors, $MIND only relies on data and logic, so its trading advice is 100% objective. This could help small investors find hidden gems and make headway in the rapidly growing market.

Another challenge is the lack of reliable real-time data. Most traders find out about hot projects too late. $MIND, on the other hand, is constantly on the lookout for opportunities.

As the AI agent evolves, it could even set new trends and launch its own tokens only available to $MIND holders.

The $MIND token presale kicked off a few weeks ago, and early adopters have already invested over $4.4M. One token now costs $0.0032273, but the price is set to increase tomorrow.

Mind of Pepe

This means now is the best time to secure your share of tokens and become part of a community that prefers to trade smart, not hard.

Crypto AI Follows Its Own Path

The AI crypto market is seemingly decoupling from the broader tech market. While crypto projects may apply technological advancements from the general AI field, their success hinges on community engagement and token utility rather than raw model performance.

Projects like MIND of Pepe understand this dynamic, focusing on practical applications of AI within the crypto market. Its ability to deliver data-driven market insights might help $MIND build a large user base that would support its long-term growth.

However, no gains are guaranteed in the crypto market. Remember to DYOR and diversify your portfolio to offset potential losses.



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Expert Clears About XRP Lawsuit Removal and Case Deadline Date

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3 hours ago

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January 30, 2025

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Debates on Ripple vs SEC lawsuit pick up as the XRP community hopes the Trump administration to resolve it by April or May. Moreover, the rumors of XRP lawsuit removal from the US SEC’s website sparked significant market buzz. However, an expert refutes the lawsuit removal by the SEC as well as the case settlement claims with facts.

US SEC Didn’t Remove or Move Ripple Lawsuit

Sherrie, a popular expert amongst the XRP community, has refuted the Ripple lawsuit removal by the US SEC reports. She confirmed that Ripple Labs isn’t at the trial court level and the case will show under the Award Claims page of the SEC.

Moreover, the case is available on the Court of Appeals website since it was assigned a new case number. The case concluded in district court as Judge Analisa Torres ordered Ripple to pay $125 million in penalty, which was far lower than the $2 billion expected by the SEC.

Settlement or Dismissal of XRP Lawsuit May Get Delayed Further

Paul Atkins is estimated to get approval as SEC Chairman by the US Senate around April. It is highly unlikely the Ripple vs SEC lawsuit will be dropped by an Acting Chair, claims Sherrie.

Generally these big cases are dealt with by the actual Chairman. Atkins has an estimated time of getting approved by the Senate around April.

Also, she added that Ripple to submit its brief related to appeal and cross-appeal by April 16 is scheduled for a reason. Also, attorney Jeremy Hogan predicted an April or May timeline for the SEC to withdraw or dismiss the case.

As per the US Senate website, Paul Atkins will remain a member of the Securities and Exchange Commission until June 5, 2031.

Paul Atkins ConfirmationPaul Atkins Confirmation
Source: US Congress

Next in Ripple Vs SEC in Case of Settlement

In case the parties decide to drop their respective appeals, a notice will be submitted to the Court of Appeals for the Second Circuit. As per Sherrie, the written notice or letter is generally a “simple single page and will have signatures included.”

She further elaborated that the US SEC needs to hold a vote to drop the case in the presence of SEC Chair Paul Atkins. Then they will contact Ripple’s lawyers. If the parties agree to drop the case, a written notice gets sent electronically to the court docket.

According to her, the Ripple vs SEC lawsuit may get resolved between April and June this year. The SEC under Paul Atkins may decide not to pursue appeals further.

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space.

At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting.

Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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