In the dynamic universe of cryptocurrencies, some speculation has been shaking the sector following the approvals of Bitcoin and Ethereum exchange-traded funds (ETFs): the launches of ETFs for other cryptocurrencies. When addressing the subject, the former CEO of BitMEX, Arthur Hayes, suggested that the largest memecoin on the market, Dogecoin (DOGE), could be next in line for product approvals.
According to his view, the popularity of the memecoin DOGE is so great that financiers cannot ignore it, because institutions have the desire to enter the industry. Hayes’ statements came during an interview with Jessica Walker alongside Real Vision CEO Raoul Pal.
Hayes, who attracted attention by revealing his trading and market forecasts, highlighted that after regulators approve the Bitcoin and Ethereum ETFs, authorities will inevitably also approve the Dogecoin-based ETF. For the billionaire, memecoins, like DOGE, still have a long way to go.
On the occasion, Raoul Pal and Hayes highlighted investors’ estimate of the approval of Dogecoin ETFs in the USA by the end of the current bull market cycle.
“Dogecoin is the oldest memecoin on Robinhood,” he said. “If you’re seeing Tradfi entering the crypto market and they’re going to put ETFs on everything they can, that’s a high market cap thing,” added Hayes.
At the time of publication, the price of Dogecoin was quoted at US$0.1404, down 2.9% in the last 24 hours.
Hayes and Pal revealed cryptocurrencies they invest in, highlighting that memecoins such as Dogecoin (DOGE), BONK and Dogwifhat (WIF) are part of their crypto portfolios.
XRP, Cardano, Solana ETFs are ‘inevitable’, believes Brad Garlinghouse
Ripple CEO Brad Garlinghouse recently highlighted his optimism over the approval of a spot XRP ETF in the US. Furthermore, the executive also believes in the approval of ETFs for important altcoins, such as Solana (SOL) and Cardano (ADA). Garlinghouse’s statement took place during the Consensus 2024 conference amidst a scenario of changing regulatory perspectives on the sector.
Even with all the obstacles imposed on the sector, the recent approval of Ethereum ETFs marked a major change and evolution in the industry in the US. “I think it’s just a matter of time and it’s inevitable that there will be an XRP ETF, that there will be a Solana ETF, that there will be a Cardano ETF, and that’s great,” Garlinghouse highlighted.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/etf-de-dogecoin-doge-sera-o-proximo-entenda/
