Author: Scott Matherson, Bitcoinist; Translated by: Baishui, Golden Finance
Industry Insiders Believe Dogecoin ETF Will Be Launched Soon
BitMEX co-founder Arthur Hayes and Real Vision chief executive officer (CEO) and co-founder Raoul Pal recently appeared on Coin Bureau’s YouTube podcast to share insights on the potential of a Dogecoin ETF as the memecoin continues to gain traction in the market.
When asked which meme coins he is watching in his portfolio, Hayes asserted that Dogecoin could get an ETF by the end of this cycle. His prediction is based on the substantial growth rates of doge-themed meme coins over the years, highlighting Dogecoin’s status as the oldest meme coin in the crypto space, giving it an edge over other meme-based cryptocurrencies.
Additionally, Hayes noted that Dogecoin’s market cap is quite impressive, having risen to a staggering $19.7 billion. According to CoinMarketCap, Dogecoin is currently the world’s largest meme-based cryptocurrency by market cap.
Furthermore, Dogecoin’s cultural impact on the crypto space and the investing world as a whole is profound. The popular meme coin has also steadily cultivated its strong community with millions of supporters and investors.
Pal echoes Hayes’s sentiments, agreeing with the BitMEX co-founder’s prediction of a Dogecoin ETF at the end of the market cycle. He expressed strong support for a Dogecoin ETF and discussed the possibility with Jan van Eck, CEO of investment management firm and spot Bitcoin ETF provider VanEck.
When asked if a potential Dogecoin ETF could reverse the demand for spot Ethereum ETFs, the Real Vision CEO praised Dogecoin for outperforming Bitcoin in every bull cycle, solidifying its position as a major player in the cryptocurrency space. He also revealed that he had tried to urge VanEck’s CEO to submit a Dogecoin ETF and emphasized his active efforts behind the scenes to make it happen.
DOGE is currently trading at $0.13. Chart: TradingView
The most narrative meme coin of the cycle
As meme coins continue to gain ground in the cryptocurrency space, it’s no surprise that many are speculating on which coin will be the next big thing. In the interview, Hayes and Pal shared which meme coin they believe will have the strongest narrative power in the cryptocurrency market.
Pal revealed that he has invested in popular cryptocurrencies such as Dogecoin, but 90% of his position is in Solana (SOL). Hayes, on the other hand, revealed a more diversified meme coin portfolio, focusing on well-known meme coins such as Bonk (BONK), Dogwifhat (WIF) and Dogecoin. He revealed his investment strategy for 2024, advising: "Go long, don't sell, don't waver, don't use too much leverage."
