Billy Markus, one of the founders of Dogecoin (DOGE), recently addressed speculation about the possibility of the SEC approving a Dogecoin ETF. This speculation has grown following the approval of the Bitcoin and Ethereum ETFs, leading many to wonder which cryptocurrency could be next.
Billy Markus, one of the founders of Dogecoin (DOGE), recently addressed speculation about the possibility of the SEC approving a Dogecoin ETF. This speculation has grown following the approval of the Bitcoin and Ethereum ETFs, leading many to wonder which cryptocurrency could be next.
Markus appears to downplay these rumors, suggesting that they are not particularly likely to him. Although DOGE started out as a meme currency, it has achieved widespread acceptance over the past decade. Many companies now accept it as a payment method, maintaining their presence in the market.
Gamza Khanzadaev
Dogecoin’s classification as a non-security positions it well for an ETF. Earlier this year, the CFTC gave the green light to Coinbase futures on Dogecoin. This regulatory nod is seen as a pivotal move that could make it easier for more traditional financial institutions to commit to DOGE.
Currently, Dogecoin ranks as the largest meme cryptocurrency, with a market capitalization of $22.88 billion and a daily trading volume of $3 billion. The coin is currently valued at $0.158, significantly lower than its high of $0.74 in May 2021.
Alex DovbnyaThe Dogecoin ETF concept offers both benefits and potential concerns. On the one hand, it could lead to greater institutional participation and market validation. On the other hand, it raises doubts about the growing influence of traditional finance entities on cryptocurrencies.
