Bitwise is preparing to launch a new Dogecoin ETF (BWOW), which will soon hit the market after NYSE Arca approved its listing and registration. This move signals growing interest in Dogecoin among investors, supported by new financial products.

BWOW, registered under the Securities Act of 1933, will provide investors access to the meme cryptocurrency Dogecoin, with assets held by Coinbase Custody Trust. The certification was issued shortly after Grayscale launched its spot Dogecoin ETF — GDOG, which attracted around $1.4 million in trading volume on its first day, although the results were below initial forecasts.

Experts believe GDOG had a “solid” start for a typical launch, but it was significantly quieter than other ETFs, such as those for Solana and XRP. Nevertheless, the launch of new financial instruments for Dogecoin by Bitwise helps sustain interest in the cryptocurrency and opens additional opportunities for investors.