Bitwise Chief Investment Officer Matthew Hougan on Monday said while meme coin ETFs are not entirely off the table, they are not a “free-for-all,” highlighting the need for a liquid, globally distributed market with limited insider influence.
What Happened: Speaking with Benzinga at The Digital Assets Forum in London, Hougan discussed the possibility of these ETFs in the future, while also emphasizing that it wouldn’t be for all assets and that they would have to be among the top and most liquid.
Hougan cited Dogecoin (CRYPTO: DOGE) as an example of a meme coin that is long-lasting, given its 12-year history, fair launch and active community.
“So is it an asset that most institutional or professional investors should allocate to? No, definitely not. It has no ‘fundamental value’ beyond its memetic,” while also noting “Is it an important monetary asset like Bitcoin (CRYPTO: BTC)? No.”
However, he clarified, “Is it an ephemeral pump and dump scheme? No.”
Hougan emphasized that the core argument …
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