As meme coins gain popularity, crypto experts predict a #Dogecoin ETF
Dogecoin may establish an Exchange-Traded Fund (ETF) shortly, according to two major crypto industry specialists.
Crypto Leaders Announce Dogecoin ETF
In a recent Coin Bureau YouTube podcast, BitMEX co-founder Arthur Hayes and Real Vision CEO and co-founder Raoul Pal discussed the possibilities for a Dogecoin ETF as joke currencies gain popularity.
Hayes said Dogecoin might obtain an ETF before the end of the cycle when asked about his meme currency portfolio. He predicted Dogecoin's rise throughout the years, citing its position as the oldest meme currency in the crypto market, giving it an advantage over other meme-based cryptocurrencies.
Hayes also mentioned Dogecoin's $19.7 billion market worth. CoinMarketCap ranks the meme coin as the biggest meme-based cryptocurrency by market capitalization.
Dogecoin has also had a major cultural influence on crypto and investing.
Pal shared Hayes' forecast of a Dogecoin ETF by market close. After discussing a Dogecoin ETF with VanEck CEO Jan van Eck, an investment management business and Spot Bitcoin ETFs supplier, he strongly supported it.
When asked whether a Dogecoin ETF may boost Spot Ethereum ETF demand, the Real Vision CEO noted that Dogecoin has outperformed Bitcoin in every bull cycle, solidifying its standing as a crypto powerhouse. He also said he has been working behind the scenes to get VanEck's CEO to establish a Dogecoin ETF.
Meme currencies are gaining popularity in crypto, therefore many are betting on the next big smash. Hayes and Pal discussed which meme currencies they think would have the greatest crypto market narratives in the interview.
Pal said he invested in Dogecoin but was 90% long on Solana. Hayes, however, displayed a more diverse meme currency portfolio, including Bonk (BONK), Dogwifhat (WIF), and Dogecoin. His 2024 investing strategy: “Be long, don’t sell, don’t get shook, and don’t use too much leverage.”
