CandleFocus Meme Coin ETFs to Be the Next Big Thing in Crypto: Bitwise CIO
2024-09-16
Author: Content Editor
Meme coin exchange-traded funds (ETFs) are anticipated to become a significant development in the cryptocurrency industry. In an interview with Bitwise's CIO, Matt Hougan, the possibility of meme coin ETFs and their potential impact on the market was discussed. While Hougan did not confirm if Bitwise would pursue a meme coin ETF, he expressed support for such products and emphasized the importance of providing crypto enthusiasts with a safe and familiar investment option. The approval of meme coin ETFs would attract more capital and traditional investors to the meme coin sector. Currently, meme coins are outperforming major cryptocurrencies, with Solana meme tokens leading the way. The total market cap of the meme coin sector stands at $41.140 billion, with Dogecoin (DOGE) and Shiba (SHIB) being the dominant players.
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