# EDGAR Filing Document

**Accession Number:** 0002053791
**File Stem:** 0000000000-25-007210
**Filing Date:** 2025-7
**Character Count:** 9424
**Document Hash:** 45aa34cdfad6062d9c153324b6e85a58
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-25-007210.hdr.sgml**: 20260320

**ACCESSION NUMBER**: 0000000000-25-007210

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250709

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bitwise Dogecoin ETF
- **CENTRAL INDEX KEY:** 0002053791
- **STANDARD INDUSTRIAL CLASSIFICATION:** [6221]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** UPLOAD
- **SEC FILE NUMBER:** 333-284553

**BUSINESS ADDRESS:**
- **STREET 1:** 250 MONTGOMERY STREET, SUITE 200
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94104
- **BUSINESS PHONE:** (415) 707-3663

**MAIL ADDRESS:**
- **STREET 1:** 250 MONTGOMERY STREET, SUITE 200
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94104
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001213900-25-007545

## Text-Extract

```

                                                             July 9, 2025

Hunter Horsley
President and Treasurer
Bitwise Dogecoin ETF
c/o Bitwise Investment Advisers, LLC
250 Montgomery Street, Suite 200
San Francisco, CA 94104

       Re: Bitwise Dogecoin ETF
           Amendment No. 1 to Registration Statement on Form S-1
           Filed June 26, 2025
           File No. 333-284553
Dear Hunter Horsley:

     We have reviewed your amended registration statement and have the
following
comments.

        Please respond to this letter by amending your registration statement
and providing
the requested information. If you do not believe a comment applies to your
facts and
circumstances or do not believe an amendment is appropriate, please tell us why
in your
response.

       After reviewing any amendment to your registration statement and the
information
you provide in response to this letter, we may have additional comments. Unless
we note
otherwise, any references to prior comments are to comments in our February 24,
2025 letter.

Amendment No. 1 to Registration Statement on Form S-1
Table of Contents, page i

1.     In the Table of Contents, please correct the typographical errors in the
lines "XRP,
       XRP Market and Regulation of XRP" and "The Trust and XRP Prices."
Prospectus Summary
Dogecoin, the Dogecoin Blockchain and the Dogecoin Network, page 1

2.     We note your response and revised disclosure to prior comment 3 and
partially
       reissue. In an appropriate section, please disclose the transaction fees
associated with
       transferring Dogecoin.
 July 9, 2025
Page 2

The Trust's Fees and Expenses, page 6

3.     Refer to your response to prior comment 8. Please revise your disclosure
to explain
       the circumstances in which the Trust is responsible for paying the
Dogecoin
       Blockchain fees. In this regard, we note your continued disclosure on
page 6 that
       "[t]he Trust may incur certain extraordinary, non-recurring expenses
that are not
       assumed by the Sponsor, including, but not limited to,... Dogecoin
Blockchain fees."
Risk Factors
Dogecoin is a relatively new technological innovation with a limited..., page
15

4.     To provide context for this risk, please specifically state how long
Dogecoin has been
       traded, and how long it has been traded in the United States.
Possible illiquid markets may exacerbate losses or increase..., page 39

5.     To provide context for this risk, please provide quantitative disclosure
discussing the
       size and liquidity of the Dogecoin market.
Dogecoin, Dogecoin Market and Regulation of Dogecoin
Dogecoin Markets and Exchanges, page 63

6.     Please revise to add a brief discussion of the Dogecoin futures markets.
Government Oversight, Though Increasing, Remains Limited, page 66

7.     Please revise this section to include a discussion of the regulation of
Dogecoin futures
       and government oversight.
The Trust and Dogecoin Prices, page 68

8.     We note that you deleted the following statement appearing on page 67 of
the prior
       filing: "If there are changes to the Constituent Platforms used to
calculate the Pricing
       Benchmark, or other material changes to the Pricing Benchmark
calculation
       methodology, the Trust will notify Shareholders in a prospectus
supplement and a
       current report on Form 8-K or in its annual or quarterly reports."
Please restore this
       disclosure, or explain why it was removed.
9.     As a related matter, in this amendment, you have also removed your
tabular
       disclosures providing market share and volume information for each
Constituent
       Platform used to calculate the Dogecoin price appearing on pages 68 - 69
of the prior
       filing. Please restore these disclosures.
Pricing Benchmark Methodology, page 70

10.    We note your disclosure on page 73 that the Benchmark Provider data is
used under
       license as a source of information for the Trust's products. When
available, please
       disclose the material terms of any license agreement that the Benchmark
Provider and
       the Sponsor have entered into, including the obligations of each party
and the term
       and termination provisions. Please also file the agreement as an exhibit
to your
       registration statement if required by Item 601 of Regulation S-K.
 July 9, 2025
Page 3
Calculation of NAV, page 74

11.    We note your response and revised disclosure to prior comment 17. Please
revise to
       clarify whether you have a license agreement with a Secondary Source. If
so, please
       identify the Secondary Source and describe how the value of Dogecoin is
calculated
       by the valuation methods of the Secondary Source. If not, please so
state. In addition,
       please revise to provide examples of the "available data" the Sponsor
will consider to
       determine the fair price of Dogecoin if the Pricing Benchmark, the
Secondary Source
       and the principal market price are unavailable or deemed unreliable.
12.    We note your revised disclosure in response to prior comment 19 that ICE
Data
       Indices, LLC calculates the ITV. To the extent that you have a material
agreement in
       place with ICE Data Indices, LLC, please revise to disclose the material
terms thereof.
       Also, please file the agreement as an exhibit to the registration
statement, if required
       by Item 601 of Regulation S-K.
Custody of the Trust's Assets, page 84

13.    Refer to your revised disclosure in response to prior comment 21 that
"[s]imilarly
       secure technology may include the usage of storage on hardware security
modules
       ('HSMs') that may connect to the internet securely in order to broadcast
transactions."
       Please revise to address any risks related to the use of HSMs.
Creation and Redemption of Shares, page 95

14.    We note your disclosure on page 96 that "[t]he manner by which creations
are made is
       dictated by the terms of the Authorized Participant Agreement." Please
revise to
       identify the current Authorized Participants with Authorized Participant
Agreements
       that allow for only cash, only in-kind, and both cash and in-kind
creations and
       redemptions.
15.    Refer to the first bullet of prior comment 23. For creations, please
revise your
       disclosure to clarify whether any excess cash will be returned to the
Authorized
       Participants to the extent that the cash deposit amount exceeds the
execution price of
       the Dogecoin acquired.
16.    We note your response to the third bullet of prior comment 23. We are
unable to
       locate your revisions in response to this comment and reissue. Please
revise to clarify
       whether any costs or transaction fees associated with creations and
redemptions are
       payable by the Trust.
Conflicts of Interest, page 102

17.    Refer to your response to prior comment 25. Please revise this section
to address any
       potential conflicts of interest between the Trust and the Trade Credit
Lender and the
       Dogecoin Trading Counterparties, as applicable. If you do not believe
that any
       potential conflicts of interest exist between these parties, please tell
us.
Material Contracts
Prime Execution Agreement, page 112

18.    We note your response to prior comment 5, which references your existing
disclosure
       in the section entitled "Material Contracts     Prime Execution
Agreement." Please
 July 9, 2025
Page 4

       further revise your disclosure regarding the potential conflicts of
interest associated
       with the Trust's arrangement with the Prime Execution Agent, an
affiliate of the
       Dogecoin Custodian, to specifically describe the impact that such
potential conflicts
       of interest may have on price.
       Please contact Kate Tillan at 202-551-3604 or David Irving at
202-551-3321 if you
have questions regarding comments on the financial statements and related
matters. Please
contact Sonia Bednarowski at 202-551-3666 or David Lin at 202-551-3552 with any
other
questions.

                                                             Sincerely,

                                                             Division of
Corporation Finance
                                                             Office of Crypto
Assets
cc:   Richard J. Coyle

```

### Attached PDF Documents

**Attachment 1:** `filename1`

_No text found in this document._