Crypto Asset Management Giant Bitwise hopes to launch a Spot Exchange-Traded Fund (ETF) for Dogecoin (Doge).
BitWise has one application With the US Securities and Exchange Commission (SEC) to launch the top memecoin ETF.
In a new interview with The Financial Times, Matt Hougan, Chief Investment Officer of Bitwise out Those memecoins are an important aspect of the crypto industry and have a strong importance of investors.
“Memecoins are totemic artifacts of the emerging crypto culture. In a sense they are almost collecting objects and they are a way to express your relationship with something. There are hundreds of millions of people who have a deep affinity with this culture. It is an inherent digital culture in which Memes are extremely important for it. Is it different from baseball cards or high art? No, it’s only different in shape. “
He also predicts a big demand for a Dogecoin ETF product.
“The reality is that there are many people who want to invest in Dogecoin. It is the sixth largest crypto-active in the world per market capitalization and it trades more than $ 1 billion a day. ”
The SEC approved spot ETFs for Bitcoin (BTC) and Ethereum (ETH) last year, but after much uncertainty and several delays. Crypto insiders now believe that the chance is greater that the SEC ETFs will approve for other digital assets after former SEC chairman Gary Gsler, who was generally considered anti-crypto, has decreased.
US President Donald Trump has nominated cryptocurrency lawyer Paul Atkins to lead the sec.
DOGE acts for $ 0.32 at the time of writing, an increase of 1.1% in the last 24 hours.
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