Meme Coin ETFs to Be the Subsequent Huge Factor in Crypto: Bitwise CIO

• Bitwise CIO Matt Hougan will at all times help meme coin ETFs.
• Hougan believes that each investor ought to have a protected solution to spend money on meme tokens.
• The whole market cap of the meme coin sector dropped to $41.140 billion up to now 24 hours.

Meme coin exchange-traded funds (ETFs) are anticipated to be the subsequent huge factor within the digital asset sector. In an interview with Tony Edward, the host of Considering Crypto podcast, Matt Hougan, the CIO at Bitwise, talked about the potential for such an funding product and their potential affect on crypto.

Within the interview, Hougan talked on a number of subjects together with the potential for the approval of meme coin ETFs within the close to future. The Bitwise government stated that the ETFs might or might not “match into the bitwise framework of the world” whereas including that a whole lot of such funding merchandise “simply exist as buying and selling instruments and are extensively adopted and extensively used.”

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The approval of meme coin ETFs would carry extra capital within the meme coin sector and likewise enhance the presence of the sector amongst conventional buyers. Hougan stated that individuals will ultimately discover an publicity to memecoins and it’s higher that they make investments utilizing an ETF than on “FTX.” 

Whereas Hougan didn’t affirm whether or not Bitwise would push for a meme coin ETF within the close to future, he stated he’ll help such merchandise. He believes crypto lovers fascinated by meme cash ought to have entry to a “protected, safe, acquainted ETF bundle.”

Meme Coin Sector has Printed Huge Good points Since Final 12 months

The meme coin market has outperformed main cryptocurrencies and blue-chip tokens, with Solana meme tokens main the cost. Pepe (PEPE), Bonk (BONK), dogwifhat (WIF), Brett (BRETT), and Popcat (POPCAT) have seen spectacular positive aspects.

Learn additionally: Solana Every day Transaction Charges Hit Multi-Month Low as Meme coin Hype Fades

As per Coingecko information, the overall market cap of the meme coin sector stands at $41.140 billion, down round 3.6% up to now 24 hours. In the meantime, the overall buying and selling quantity of meme cryptocurrencies is $3.835 billion. The sector is dominated by Dogecoin (DOGE) and Shiba (SHIB) with valuations of $14.8 billion and $7.8 billion, respectively.