This Wednesday, Bitwise's spot Dogecoin ETF debuts on NYSE Arca.

Source: CritpoTendencia Original Title: This Wednesday marks the debut of Bitwise's spot Dogecoin ETF on NYSE Arca Original Link: Bitwise is preparing for the launch of its spot Dogecoin ETF (BWOW) on the U.S. stock exchange this Wednesday. This marks the second debut of a stock product with exposure to the largest of the memecoins this week. This Monday, Grayscale's product (GDOG) began trading with results so far lukewarm.

Anyway, the NYSE approved the Bitwise fund to start operations this Wednesday. For its part, the financial firm confirmed the launch of the product in a post on its official X account. In the post, the firm emphasizes that the goal is to present a regulated vehicle for investments in the currency.

It is important to mention that the Dogecoin token (DOGE) is one of the largest in the world in the market capitalization ranking. The dog coin has a market capitalization of $22.8 billion, the largest in the entire memecoins sector.

However, in recent months, the token's performance has been poor and its price barely exceeds $0.15 per unit now. The rise of a new spot ETF for Dogecoin presents an opportunity to revive investor sentiment for risk exposure. Despite the enthusiasm of the meme community, DOGE's presence on the exchange has not been sufficient so far.

Some data about the Dogecoin ETFs launched this week

The Bitwise Dogecoin ETF was launched under the 1933 Act and offers exposure to institutional and retail investors. Meanwhile, it was reported that a custody platform will be responsible for the investors' funds. It is worth noting that this launch comes after the postponement by the (SEC) on November 12.

The original proposal for this product dates back to last March. However, regulators maintained the policy of extending the review time for products related to virtual currencies for months. As mentioned at the beginning, this fund is the second DOGE fund launched this week. The other is Grayscale's GDOG, which had a slow start.

During its first day on the stock market, GDOG received zero inflows from investors. For its second day, the inflows were $1.8 million. Considering the investor reception environment for Grayscale's product, a similar performance is expected from its rival Bitwise.

So far, there are three spot Dogecoin ETFs listed on the US stock exchange. The third on the list, and the oldest, is the REX-Osprey fund, which began its journey last September. On the other hand, a similar fund from 21Shares is expected.

As can be seen, investors more interested in exposure to the risk of memecoins will have several regulated options.