As Bitcoin spot ETF is listed and Ethereum spot ETF is about to be launched, BitMEX founder Arthur Hayes and Real Vision CEO Raoul Pal recently predicted that a Dogecoin spot ETF may be introduced before the end of this market cycle.
During a Coin Bureau YouTube Podcast, cryptocurrency derivatives exchange BitMEX founder Arthur Hayes and Real Vision CEO Raoul Pal shared their insights on the potential of a Dogecoin spot ETF.
Arthur Hayes believes that the Dogecoin ETF may 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 climbed to a staggering $19.7 billion, making it the largest meme coin by market capitalization globally. Additionally, Dogecoin has had a profound impact on the cryptocurrency field and the entire investment community culture. It 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 introduced before the end of this market cycle. He strongly supports the Dogecoin spot ETF and has discussed this possibility with investment management companies and the CEO of Bitcoin spot ETF provider VanEck, Jan van Eck.
When asked if the Dogecoin spot ETF could overshadow the demand for the Ethereum spot ETF, Raoul Pal praised Dogecoin for consistently outperforming Bitcoin in every bull market cycle, solidifying its position as a major player in the cryptocurrency market. He has been trying to urge Jan van Eck to submit a Dogecoin spot ETF application and has been making active efforts towards this goal.
Which meme coin is favored in this cycle?
As meme coins become an important part of the cryptocurrency field, many are speculating on which coin will become the next popular meme coin. Raoul Pal and Arthur Hayes also shared their insights on which meme coin will have the strongest narrative in the market.
Raoul Pal revealed that he has invested in popular meme coins like Dogecoin, but his SOL holdings account for as much as 90%. Arthur Hayes, on the other hand, disclosed a more diversified meme coin investment portfolio, including BONK, WIF, and Dogecoin. He also revealed his investment strategy for 2024, advising to “go long, don’t sell, don’t shake, and don’t use too much leverage.”
