Bitwise has amended their Dogecoin ETF filing to include in-kind redemptions for brokers and dealers that interact with the ETF.
Currently, all ETFs in the US follow the cash redemption method. This means:
- A broker would first need to buy $DOGE, sell it for $USD, and then give that $USD to the ETF issuer to get an ETF share.
- Selling $DOGE for $USD creates a taxable event, leading to capital gains taxation.
However, under the new proposed amendment, the broker would be able to directly trade the $DOGE token for ETF shares, taking the USD conversion out of the picture.
Read on to learn more about this crucial change and how it may impact the crypto market’s enthusiasm. We’ll also suggest some meme coins that could 100x as a result.
More About In-Kind Redemptions
An amendment is made only when there’s some communication between the SEC and the applicants.
The amendment to the ETF proposal shows that the SEC is working actively for crypto approvals, and we might soon see the DOGE ETF debut in the US.
Notably, 21Shares also filed an amendment to their DOGE ETF proposal on May 28.
Eric Balchunas, an ETF expert, said that the proposed in-kind redemption method might be applied to all ETFs in the US, including Bitcoin and Ethereum.
In-kind redemptions reduce the tax burden on market participants, leading to considerable tax savings.
This will encourage more brokers and dealers to offer ETF products. Plus, fewer transactions will lead to long-term cost savings because there will be less fees to chalk out.
All this shows a broader institutional shift toward embracing crypto-based financial products, especially given the SEC’s clarity on SEC structures.
With that in mind, here are three tokens that could rally heavily as a result.
1. Snorter Token ($SNORT) – Best Meme Coin of 2025, Powering the Snorter Trading Bot
Snorter Token ($SNORT) is one of the frontrunners for the next crypto to explode soon. According to our $SNORT price prediction, the token can surge 1,900% and reach $1.92 by 2026.
The reason? Snorter Bot. It’s a Telegram trading bot designed to help retail trailers swipe meme coins within milliseconds of liquidity being available.
In other words, Snorter will help you buy new meme coins as soon as they hit the exchanges, which is when they’re at their cheapest.
Generally, this is not possible for retail participants because institutional players use advanced trading bots to eat up all the liquidity.
Additionally, Snorter also comes laced with security features. It’ll safeguard you against sandwich attacks, honeypots, rug pulls, and other scams, offering you a secure trading environment.
Buying $SNORT comes with several benefits. First, it’ll reduce your trading fees from 1.5% to just 0.85%, the lowest in the trading bot industry.
Second, because the presale is relatively new, you can also stake your $SNORT tokens to earn decent dynamic staking rewards (currently 250% p.a.).
Snorter Token has raised over $1.3M in early investor funding, and each token is currently available for just $0.0967. Here’s how to buy it.
2. BTC Bull Token ($BTCBULL) – Best Altcoin to Support Bitcoin’s Growth
BTC Bull Token ($BTCBULL)‘s unique way of cheering Bitcoin as it rises and captures new all-time highs has made it one of the best cryptos to buy right now.
Right off the bat, $BTCBULL stands out from other cryptos thanks to its free $BTC airdrops.
Essentially, every time Bitcoin crosses a brand-new landmark, such as $150K and $200K, $BTCBULL owners who have stored their tokens in Best Wallet and participate in the social media campaign will receive free $BTC in proportion to their $BTCBULL holdings.
This unique pro-Bitcoin mechanism has made BTC Bull Token one of the hottest crypto presales on the market right now. It has raised over $7.5M at the time of writing, and continues to power through.
Additionally, $BTCBULL will also follow a deflationary approach, when it’ll shave off a part of its total token supply every time Bitcoin’s price climbs up by $50K. By doing so, the developers plan to boost the token’s demand and price.
One $BTCBULL is presently selling for only $0.00258, but the token has the potential to explode 1,828% and reach $0.0497 by 2030. So, buy $BTCBULL now while it’s still super cheap.
3. Shiba Inu ($SHIB) – Top Dog Meme Coin After $DOGE
Shiba Inu ($SHIB), the second-largest meme coin in the world behind $DOGE and another canine-themed crypto, has been in the red for quite some time now. It has lost more than 21% of its value over the past 30 days.
However, with a potential $DOGE ETF expected to have a ripple effect, $SHIB could be the first in the line of beneficiaries.
A $DOGE ETF could make $SHIB a hot favorite among investors, who might seek increased exposure in the category. Also, it’s likely that the market’s interest in a $SHIB ETF increases multiple times, which will, again, benefit the token’s price.
Currently, $SHIB is trading at $0.00001122, and although it hasn’t minted any profits in over a year, enthusiasts are hopeful that positive news in $DOGE could result in a reversal sooner rather than later.
Bottom Line
The SEC, under the pro-crypto Trump administration, is finally warming up to crypto-based ETFs, even considering relaxing the rules around their taxation.
In all likelihood, this will trigger a positive momentum in the broader crypto and meme coin market, and we believe tokens like Snorter Token ($SNORT) and BTC Bull Token ($BTCBULL) could benefit the most.
However, kindly do your own research before investing. This article isn’t a substitute for professional financial advice.
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