In the ever-changing world of cryptocurrencies, speculation is buzzing about the potential approval of exchange-traded funds (ETFs) for Bitcoin and Ethereum, sparking discussions about ETF launches for other cryptocurrencies. Former BitMEX CEO Arthur Hayes recently hinted that Dogecoin (DOGE), the largest memecoin in the market, could be the next in line for regulatory approval.
Hayes, known for his trading insights, made these comments during an interview with Jessica Walker and Real Vision CEO Raoul Pal. He emphasized that with the growing popularity of DOGE, institutions cannot ignore it, leading to the inevitable approval of a Dogecoin-based ETF after Bitcoin and Ethereum ETFs get the green light from regulators. According to Hayes, memecoins like DOGE still have a long way to go.
During the discussion, Pal and Hayes predicted that Dogecoin ETFs could be approved in the US by the end of the current bull market cycle. Hayes pointed out, “Dogecoin is the oldest memecoin on Robinhood. If traditional finance is entering the crypto market and looking to create ETFs for popular assets, DOGE, with its high market cap, could be a prime candidate.”
As of the latest data, Dogecoin was priced at US$0.1404, showing a 2.9% decrease in the last 24 hours. Hayes and Pal also revealed their cryptocurrency investment preferences, mentioning that memecoins like Dogecoin, BONK, and Dogwifhat are part of their portfolios.
Meanwhile, Ripple CEO Brad Garlinghouse expressed optimism about the approval of a spot XRP ETF in the US, as well as ETFs for other major altcoins like Solana and Cardano. Garlinghouse’s statements were made at the Consensus 2024 conference, reflecting a shifting regulatory landscape in the cryptocurrency sector.
Despite challenges, the recent approval of Ethereum ETFs marked a significant milestone in the US industry. Garlinghouse believes that XRP, Solana, and Cardano ETFs are inevitable and sees this development as positive for the market.
Please note that the opinions expressed in this article are for informational purposes only and do not constitute financial advice. Investing in cryptocurrencies carries risks of financial loss.
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