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It took institutions over a decade to take bitcoin (BTC) seriously as an investment vehicle, even though well-known financial pioneers had embraced the largest cryptocurrency on the market years earlier. But not even one year after the launch of the spot bitcoin exchange-traded funds (ETFs) which saw adoption from pension funds, hedge funds and even universities, one issuer is taking it a step further . The latest filings with the Securities and Exchange Commission aim to bring meme coin ETFs — such as those tracking dogecoin (DOGE) or U.S. President Donald Trump’s Trump coin (TRUMP) — to the market. This isn’t just a bold move because DOGE and TRUMP are far less established and legitimate tokens, especially in Wall Street’s eyes, but meme coins provide no actual utility, unlike bitcoin or Ethereum`s ether (ETH). Their value simply comes from how much people believe it is worth making the launch of an ETF tracking the coins an ethical debate. “Opinions vary greatly on the value of meme coins. I fail to see their long-term value, but others have different opinions,” said James Angel, faculty affiliate at Georgetown University’s McDonough’s Psaros Center for Financial Markets and Policy. “However, a sponsor of an ETF based on meme coins needs to be very careful in the marketing of the ETF. It would be highly unethical to market such an ETF as a prudent investment vehicle.” Steve McClurg, former CEO of Valkyrie and founder Canary Capital, a hedge fund that has applied for several non-meme coin crypto ETFs, said he is personally not a fan of memecoin ETFs and that while the firm considered filing an application, it ultimately decided not to. “I don`t know how you can be a fiduciary who runs an ETF knowing that the basis of your underlying [asset] is meant and designed to go to zero,” he said. Although meme coins aren’t technically designed to go to zero, they are highly susceptible to collapsing once the hype around them dies down. Nevertheless, he believes that memecoin ETFs will eventually be approved. The former SEC under Chair Gary Gensler, who resigned on Monday after Trump became President, has so far approved several spot bitcoin and Ethereum ETFs but refused to acknowledge a potential Solana (SOL) ETF, for which several issuers had filed initial documents. More than 30 other applications are still pending, three of them being tied to memecoins. “It’s very hard for the SEC where the President chooses the commissioners to deny a meme coin put out by the President,” he said. Meme coins have long divided the crypto community. Some find them fun to trade, as they can quickly bring in a large profit through so-called pump-and-dumps, but others find them troubling, especially when issued by the country`s president. “Call me old fashioned but I think presidents should focus on running the country and not launching scam tokens,” said Nic Carter, crypto influencer and venture capitalist, in a post on X . Carter has been a vocal Trump supporter. Carter believes that there are multiple conflicts of interest when presidents start or run a business, let alone launch a cryptocurrency or DeFi protocol that they set policy for. Newly inaugurated President Donald Trump last year introduced a crypto lending platform called World Liberty Financial .
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Source: CoinDesk
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Finance Donald Trump memecoins DOGE
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ADA and XRP Supporters Place Big Bets on Remittix: Shaping the Future of Global Crypto Transactions
The cryptocurrency market is brimming with fresh opportunities, especially as the ongoing bull run promises another significant surge. As the market heats up, investors from Cardano and Ripple have identified a new crypto gem, Remittix , which is set to deliver substantial gains in the 2025 bull market. Offering cutting-edge blockchain solutions for international payments, Remittix (RTX) is steadily reshaping the financial landscape. Analysts widely view it as the top cryptocurrency to invest in right now for impressive returns. Cardano Navigates Market Turbulence Following a strong run, Cardano has seen a notable dip, decreasing by 1.9% over the past week. This decline has been largely driven by macroeconomic factors, particularly inflation concerns spurred by unexpectedly strong U.S. employment figures. Despite the drop in ADA`s price, Cardano remains a key player in the crypto arena, with $1.16 billion in open interest reflecting investor confidence. Looking ahead, anticipated changes in U.S. crypto tax policies are stoking optimism for a rebound. Analysts suggest that ADA could see further gains if it holds support at $0.90. Cardano`s resilience underscores its capability to withstand market fluctuations, highlighting the importance of diversification. As they navigate these challenges, many ADA investors are exploring new avenues like Remittix to enhance their investment portfolios. Ripple`s Prospects Dim Despite Positive Outlook Ripple`s XRP, currently priced at $3.16, has seen a 12.5% rise in the past week. Experts attribute this growth to several influencing factors. One key factor is the recent launch of Ripple USD (RLUSD), a stablecoin tied to the US dollar. This development is expected to enhance XRP’s functionality and draw more users to the Ripple network. As a result, crypto analyst Javon Marks predicts that XRP could soar to $16.50, achieving over 7,200% gains, potentially driving prices up to $168. This positions Ripple’s XRP as a leading altcoin to invest in during the DeFi surge. Nonetheless, XRP investors are turning their attention to Remittix, a promising new prospect, poised for significant price movement in the upcoming bull run. Remittix Poised for Significant Growth Cross-border payments, valued at about $150 trillion in 2017, are projected to reach $250 trillion by 2027. By integrating blockchain technology with traditional banking, Remittix is carving out a substantial share in this vast market, offering a seamless and efficient solution for global transactions. Remittix enables users to quickly convert over 40 cryptocurrencies into fiat currency, which can then be transferred directly to any bank account worldwide. What sets Remittix apart is its simplicity. Recipients simply receive a typical bank transfer, unaware that it originated as a cryptocurrency transaction. With its innovative features, users can manage their funds with complete freedom and flexibility. The platform is challenging established players like Coinbase, Wise, and Stripe. However, unlike these traditional platforms, Remittix uniquely facilitates sending money via cryptocurrency, converting it, and depositing it instantly into a bank account. Businesses can now accept crypto payments from customers and process fiat transactions to designated bank accounts using Remittix`s Pay API. Additionally, companies can create merchant accounts, giving them full control over their cryptocurrency payouts and access to more than 50 cryptocurrency pairs and over 30 fiat currencies. Remittix (RTX) is experiencing a surge in investor interest. With tokens priced at just $0.0282 and over $5.3 million raised in the $RTX presale, enthusiasm is high. Market experts foresee a remarkable 5,000% increase following launch and an 800% rise before the presale ends. As Remittix leads the way, now is an ideal time to delve into the world of cross-border payments. Explore the future of PayFi with Remittix by visiting their presale here: Website: https://remittix.io/ Socials: https://linktr.ee/remittix Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Bitzo, nor is it intended to be used as legal, tax, investment, or financial advice. CoinDesk
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