- Bitwise CIO Matt Hougan will all the time assist the meme coin ETF.
- Hougan believes that each investor ought to have a secure option to put money into meme tokens.
- The entire market capitalization of the meme coin sector fell to $41.140 billion within the final 24 hours.
Meme coin exchange-traded funds (ETFs) are anticipated to be the following massive factor within the digital asset sector. In an interview with Tony Edwards, host of the Pondering Crypto podcast, Matt Hougan, CIO at Bitwise, mentioned the opportunity of such an funding product and its potential affect on cryptocurrencies.
Within the interview, Hougan talked about a number of subjects, together with the opportunity of a meme coin ETF being authorized within the close to future. A Bitwise govt stated ETFs might or might not “match into the bit framework of the world,” including that many such funding merchandise “exist solely as buying and selling instruments and are broadly accepted and broadly used.”
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Approval of the meme coin ETF would deliver extra capital to the meme coin sector and likewise improve the sector's presence amongst mainstream traders. Hougan stated individuals will finally discover publicity to memecoins and it's higher to speculate with ETFs than on “FTX.”
Whereas Hougan didn’t verify whether or not Bitwise can be pushing a meme coin ETF within the close to future, he stated he would assist such merchandise. He believes that crypto lovers eager about meme cash ought to have entry to a “secure, safe and well-known ETF bundle”.
The meme coin sector has seen large positive factors since final yr
The meme coin market has outperformed main cryptocurrencies and blue chip tokens, with Solana meme tokens main the way in which. Pepe (PEPE), Bonk (BONK), dogwifhat (WIF), Brett (BRETT) and Popcat (POPCAT) posted spectacular positive factors.
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In response to information from Coingecko, the overall market capitalization of the meme coin sector is $41.140 billion, which is down about 3.6% within the final 24 hours. In the meantime, the overall buying and selling quantity of meme cryptocurrency is $3.835 billion. The sector is dominated by Dogecoin (DOGE) and Shiba (SHIB) with valuations of $14.8 billion and $7.8 billion, respectively.
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