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DOGE and TRUMP ETFs May be Coming But Should Institutional Investor Trade Them?

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 . CoinOtag

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President Trump Signs Executive Order To ‘Evaluate’ Strategic Bitcoin and Crypto Reserve, Ban Central Bank Digital Currency, Boost Stablecoins

President Trump just signed an executive order to evaluate the creation of a strategic national Bitcoin and crypto stockpile, as well as prevent the adoption of a Central Bank Digital Currency (CBDC) while boosting stablecoin adoption. The order, entitled “Strengthening American Leadership in Digital Financial Technology,” states the administration supports the “responsible growth” and use of digital assets and blockchain technology. The order revokes President Biden’s previous digital asset directives and creates a new working group that will coordinate and propose a unified regulatory approach to digital assets within 180 days. “The Working Group shall evaluate the potential creation and maintenance of a national digital asset stockpile and propose criteria for establishing such a stockpile, potentially derived from cryptocurrencies lawfully seized by the Federal Government through its law enforcement efforts.” The executive order also demands all federal agencies halt any actions related to the development of a government-backed digital version of the dollar, while analyzing how the US can “promote the development and growth of lawful and legitimate” dollar-pegged stablecoins created in the private sector. It also instructs US banks to provide fair and open access to banking services for all law-abiding individual citizens and private-sector entities alike, amid accusations that legitimate crypto companies were denied banking services under the previous administration. You can check out the full executive order here . Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post President Trump Signs Executive Order To ‘Evaluate’ Strategic Bitcoin and Crypto Reserve, Ban Central Bank Digital Currency, Boost Stablecoins appeared first on The Daily Hodl . CoinOtag