Bitwise has registered for an ETF product tracking the world’s largest memecoin as the crypto subsector becomes more prominent within the market.

Bitwise Asset Management announced plans for a Dogecoin Exchange-Traded Fund (ETF), aiming to offer secure, regulated exposure to the popular meme cryptocurrency. The ETF would simplify Dogecoin investments by eliminating the need for wallets or exchanges.

Following a Tuesday pump, Dogecoin is on the way back down after Elon Musk's DOGE agency website ditched the iconic meme imagery.