Author: Scott Matherson, Bitcoinist; Compiler: Baishui, Golden Finance
BitMEX co-founder Arthur Hayes and Real Vision CEO and co-founder Raoul Pal recently appeared on Coin Bureau’s YouTube podcast to share insights on the potential of a Dogecoin ETF as the meme coin continues to gain traction in the market.
When asked which meme coins he is watching in his portfolio, Hayes asserted that Dogecoin could get an ETF by the end of this cycle.His prediction is based on the substantial growth rate of the doge-themed meme coin over the years, highlighting Dogecoin’s status as the oldest meme coin in the crypto space, giving it an edge over other meme-based cryptocurrencies.
In addition, Hayes also pointed out that Dogecoin's market capitalization is quite impressive, having risen to a staggering $19.7 billion. According to CoinMarketCap, Dogecoin is currently the world's largest meme-based cryptocurrency by market capitalization.
In addition, Dogecoin's cultural impact on the crypto space and the investment space as a whole is profound. The popular meme coin has also steadily cultivated its strong community with millions of supporters and investors.
Pal echoed Hayes's views and agreed with the BitMEX co-founder's prediction that a Dogecoin ETF will be launched at the end of the market cycle. He expressed strong support for a Dogecoin ETF and discussed the possibility with Jan van Eck, CEO of investment management firm and spot Bitcoin ETF provider VanEck.
When asked if a potential Dogecoin ETF could reverse the demand for spot Ethereum ETFs, the Real Vision CEO praised Dogecoin for outperforming Bitcoin in every bull cycle, solidifying its position as a major player in the cryptocurrency space. He also revealed that he had tried to urge VanEck’s CEO to submit a Dogecoin ETF and emphasized his active efforts behind the scenes to make it happen.
DOGE is currently trading at $0.13. Chart: TradingView
As meme coins continue to gain ground in the crypto space, it’s no surprise that many are speculating on which coin will be the next big thing. In the interview, Hayes and Pal shared which meme coin they believe will have the strongest narrative power in the crypto market.
Pal revealed that he has invested in popular cryptocurrencies such as Dogecoin, but 90% of his position is in Solana (SOL). Hayes, on the other hand, revealed a more diverse meme coin portfolio, focusing on well-known meme coins such as Bonk (BONK), Dogwifhat (WIF), and Dogecoin. He revealed his investment strategy for 2024, advising: "Go long, don't sell, don't waver, don't use too much leverage."
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