The Securities and Exchange Commission (SEC) fast-tracked Bitwise’s utility for the third Bitcoin-Ethereum exchange-traded fund ($BTC-$ETH ETF) within the US.
The regulator hasn’t but accredited the ETF however may achieve this quickly, which might permit Bitwise shoppers to achieve oblique publicity to the 2 main cryptocurrencies directly.
While institutional buyers are dipping their toes in crypto via ETFs, the degen group is discovering conventional funding automobiles like indexes. Meme Index ($MEMEX) might pioneer this new development.
Where Will the SEC Draw the Line for Altcoin ETFs?
Bitwise cleared the primary resistance on the trail to its ETF approval – the 19b-4 kind. Now, the issuer awaits the approval of the S-1 kind for the fund to hit the market.
Earlier this week, Tuttle Capital additionally filed for ten altcoin ETFs, together with meme cash $TRUMP, $MELANIA, and $BONK.
Bloomberg analyst James Seyffart factors out that ETF issuers are probing the SEC’s boundaries. The SEC has already greenlit Canary Capital’s $LTC ETF, so the query is – the place will regulators draw the road?
Meanwhile, Bitwise believes the brand new pro-crypto administration and launch of latest ETFs will lengthen the bull run nicely into 2026.
The speedy development of the $BTC ETF sector is an efficient working example.
The first spot $BTC ETFs by BlackRock, Fidelity, and Grayscale have been accredited in January 2024. A 12 months later, there are 12 US $BTC ETFs with whole cumulative inflows of $40.18B.
Yesterday’s $BTC ETF inflows alone amounted to $588M, with BlackRock’s IBIT ETF main the cost ($321M).
US $ETH spot ETFs additionally recorded $67.77M inflows yesterday, bringing the whole inflows to $2.73B.
Partly due to the accelerated institutional adoption pushed by ETFs, $BTC rose 143% year-to-date and now trades at $$104K.
If the SEC have been to approve altcoin ETFs, all the crypto market would surge due to added legitimacy and accessibility.
Meme Index ($MEMEX) Brings Tried and Tested Wall Street Tools to Meme Coin Trading
While the Wall Street guys discover crypto via ETFs, degen merchants faucet into inventory market merchandise like indexes.
Meme Index ($MEMEX) resolves the 2 most important hurdles of meme coin buyers – discovering promising cash and managing threat.
It introduces 4 meme coin indexes that cater to totally different threat appetites: Titan (the least risky), Moonshot and MidCap (mid volatility), and Frenzy (high-risk, high-rewards belongings).
The meme coin market cap amassed $100B. New tokens enter the sector each day, and the leaderboard can change within the bat of a watch. That’s why placing all of your hard-earned cash into one undertaking isn’t one of the best technique.
By investing in eight tokens as an alternative of 1, you unfold threat and offset potential losses, thus having fun with increased common returns.
Ultimately, $MEMEX proves that conventional finance and crypto can coexist and take a web page or two out of one another’s books.
Early adopters have already invested $3.1M within the $MEMEX presale and staked 139M tokens at a 718% dynamic APY.
One token now prices $0.0157183, however the value will improve in lower than a day. This means now could be one of the best time to safe your share of $MEMEX earlier than it launches on tier-1 exchanges at a better value level.
Beyond offering entry to Meme Index baskets, the $MEMEX token provides its holders governance rights to steer the undertaking’s route.
Crypto’s Coming of Age
The strains between old-school finance and crypto are blurring.
The SEC’s warming up to crypto ETFs – it has already mentioned sure to $BTC and $ETH, so altcoins and even meme coins may very well be subsequent. This means Wall Street is lastly taking crypto critically.
And with tasks like Meme Index, we see degens embracing the tried and examined funding methods.
All of this implies one factor – there’s no manner of stopping the crypto practice.
However, bear in mind to DYOR earlier than investing in any undertaking. Even the broader bull run and powerful undertaking fundamentals don’t assure returns.
