Tuttle Capital Management has withdrawn its ten ETF request from leverage cryptocurrencies linked to Bonk, Trump and Melania tokens, which increases eyebrows in the financial community. This decision sheds light on the regulatory scrutiny surrounding funds focused on memes currencies.
Bitwise advances with Dogecoin Etfare Meme Coin Etfs only speculation?
Bitwise advances with Dogecoin ETF
In a contrasting action, Bitwise has submitted a S-1 record under the 1933 Securities Law for a physical ETF of Dogecoin, which marked it as a legitimate proposal of ETF Spot Dogecoin.
Are the ETF of MEME COINS only speculation?
Critics in the industry argue that ETFs of meme coins are simply speculative companies. Bryan Armor de Morningstar commented that these ETF seem more appropriate for entertainment than for serious commercial platforms.
The cryptocurrency market has seen significant exits, with the ETF of Bitcoin and Ethereum established losing $ 600 million recently combined. Despite this, the US Bitcoin ETFs still control 5.55% of Bitcoins’ total supply.
- Tuttle withdrawal highlights the limits of the SEC on acceptable funds proposals.
- Industry experts express concerns about the viability of meme coins as financial instruments.
- The main ETFs such as the FBTC of Fidelity and GTBC of Grayscale have faced notable exits.
Recent developments indicate a precautionary climate among investors with respect to cryptocurrency ETFs, particularly those linked to meme coins. The current regulatory challenges contribute to this growing uncertainty in the market.
Discharge of responsibility: The information contained in this article does not constitute investment advice. Investors must be aware that cryptocurrencies have high volatility and, therefore, the risk, and must carry out their own research.
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