With the listing of Bitcoin spot ETF and the upcoming launch of Ethereum spot ETF, BitMEX founder Arthur Hayes and Real Vision CEO Raoul Pal recently predicted that a Dogecoin spot ETF may be launched before the end of this market cycle.
Cryptocurrency derivatives exchange BitMEX founder Arthur Hayes and Real Vision CEO Raoul Pal recently shared their insights on the potential of a Dogecoin spot ETF on Coin Bureau’s YouTube Podcast. Arthur Hayes believes that a Dogecoin ETF could be launched at the end of this market cycle, based on the significant growth of Dogecoin themed meme coins over the years. Dogecoin, as the oldest meme coin, has an advantage over other meme coins.
Arthur Hayes pointed out that Dogecoin’s market value has surged to a staggering $19.7 billion, making it the largest meme coin by market capitalization globally. In addition, Dogecoin has had a profound impact on the cryptocurrency space and the entire investment community culture. Dogecoin has also cultivated a strong community with millions of supporters and investors.
Raoul Pal agrees with Arthur Hayes’ prediction that the Dogecoin spot ETF will be launched before the end of this market cycle. He strongly supports the Dogecoin spot ETF and has discussed this possibility with investment management companies and Bitcoin spot ETF provider VanEck CEO Jan van Eck.
When asked whether the Dogecoin spot ETF could overshadow the demand for an Ethereum spot ETF, Raoul Pal praised Dogecoin’s consistent outperformance of Bitcoin in every bull market cycle, solidifying its position as a major player in the cryptocurrency space. He has been trying to urge Jan van Eck to submit a Dogecoin spot ETF application and has made active efforts towards this end.
Which meme coin is favored in this cycle? As meme coins have become an important part of the cryptocurrency space, many are speculating on which coin will become the next popular one. Raoul Pal and Arthur Hayes also shared which meme coins will have the strongest narrative in the market.
Raoul Pal revealed that he has invested in popular meme coins such as Dogecoin, but his SOL holdings account for as much as 90%. Arthur Hayes, on the other hand, disclosed his diversified meme coin investment portfolio, including BONK, WIF, and Dogecoin. He also revealed his investment strategy for 2024, advising to “buy more, don’t sell, don’t be shaken, and don’t use too much leverage.”