What A Dogecoin ETF Approval Means For The Future Of Crypto

The first Dogecoin ETF is set to go live next week, becoming the first memecoin ETF ever to ￰0￱ experts have shared their opinions on what this could mean for the future of crypto, as well as insights into how the fund would ￰1￱ Coin ETF Era Kicks Off With First Dogecoin ETF In an X post , Bloomberg analyst Eric Balchunas stated that the meme coin ETF era is about to kick off as REX-Osprey’s Dogecoin ETF (DOJE) is set to launch under the 40 ￰2￱ added that this is likely the first-ever ￰3￱ to hold something that has no utility on ￰4￱ analyst noted that there are also other DOGE ETF filings under the 33 Act, which are awaiting the SEC’s approval, meaning there are more meme coin ETFs on the ￰5￱ the Bloomberg analyst pointed out, the Dogecoin ETF will be the first ￰6￱ without utility, given that DOGE is a meme coin that originated as a ￰7￱ had doubled on his “utility” comment as he questioned in another X post what DOGE’s utility was, seeing as it literally started out as a ￰8￱ lacking any utility, it is worth mentioning that a Dogecoin ETF will differ from most altcoin ETFs, as DOGE is a proof-of-work (PoW) coin, just like ￰9￱ such, there is also no staking utility that could bring in yields for investors like proof-of-stake (PoS) coins like Ethereum and ￰10￱ further strengthens the argument that DOGE lacks any utility.

However, Incyt CEO Mike Maloney said that Dogecoin may have started as a joke, but it has become a serious altcoin that has attracted real investors and engineers to the ￰11￱ added that community engagement is as real for a coin as it is for a ￰12￱ are notable projects on the Dogecoin network that have moved to provide real utility for the meme ￰13￱ of them is DogeOS, whose CEO, Jordan Jefferson, remarked that Dogecoin started as a joke and now, Wall Street is finally getting ￰14￱ REX-Osprey’s DOGE ETF Will Operate In an X post , Bloomberg analyst James Seyffart provided insights into how the REX-Osprey Dogecoin ETF will operate, considering that it was filed under the 33 Act, which is the normal ￰15￱ noted that the fund is slightly different from the spot Bitcoin & Ethereum ETFs , which everyone is accustomed to.

REX-Osprey’s Dogecoin ETF will spot DOGE but not for 100% of its holdings, like the Bitcoin and Ethereum ETFs, which hold 100% BTC and ￰16￱ revealed that the DOGE fund will hold a combination of spot and other spot ￰17￱ such, it will still offer spot exposure to the meme coin, but it can also use derivatives, ￰18￱ DOGE ETF was scheduled to launch this week, but the Bloomberg analyst has revealed that it has been delayed until next ￰19￱ the time of writing, the Dogecoin price is trading at around $0.26, up over 4% in the last 24 hours, according to data from CoinMarketCap.