Dogecoin ETF Launches: A Sign of Adoption or a Market Top?
Is the launch of a Dogecoin ETF the ultimate sign of crypto adoption, or is it a signal that the market has officially become a casino?
The first-ever U.S. Dogecoin futures ETF ($DOGEX) is set to debut this Thursday, bringing the original meme coin to Wall Street.
What does this mean for the space? Does this legitimize DOGE as a long-term asset, or is it just creating another way for traditional finance to gamble on crypto's most famous joke?
22 Answer
Proof of Concept for Altcoins: Following Bitcoin and Ethereum ETFs, a Dogecoin ETF proves that the regulatory door is open for a wider variety of altcoins, including those with purely community-driven or "memetic" value. This is a profound shift in the integration of crypto into traditional finance (TradFi)
A DOGE ETF? That’s next-level adoption, let’s hope it’s not the top 😂
It's the ultimate signal that the market is a casino. Legitimizing a joke asset for speculation shows TradFi has fully embraced crypto's gambling side, not its utility.
A Dogecoin ETF doesn't legitimize the asset; it legitimizes gambling. Traditional finance isn't embracing crypto's ideals—it's just packaging its volatility for speculative profit, turning the market into their casino.
Adoption or peak meme mania?
This is an embarrassment. We're trying to build a new, decentralized financial system, and the first meme coin ETF gets approved while spot ETH ETFs are delayed. This makes the entire industry look like a joke and rewards projects with zero development or utility. This is not the kind of adoption we should be celebrating.
Good. Next month, a futures ETF will make the spot ETFs more likely to do well.
Just so you know, the only reason this is happening is because Rex-Osprey is using the same "loophole" (the Investment Company Act of 1940) that they used to start their SOL ETF "SSK."
This isn't the SEC saying anything about DOGE compared to the other coins with pending ETFs. It's just Rex-Osprey saying that they think SOL and DOGE will have the most trading volume.
Under the '33 Act, all of the other ETFs, including other DOGE ETFs, are still waiting for SEC approval.Does ETF guarantee a price surge like what happened with BTC last year 🤔??
Launch? 9/11? What could go wrong
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