- Bitwise files for Dogecoin ETF, recognizing its lasting value and community support.
- Matt Hougan says it’s unfair to compare Dogecoin to TRUMP coin.
- Despite challenges, Dogecoin’s committed user base continues to grow.
Dogecoin has been a bit of an outlier in the crypto world. Originally created as a joke based on the “Doge” meme, it has since become one of the most recognized coins in crypto. It’s built a loyal following that’s stuck around; and now, it’s back in the news, this time with talk of a possible Dogecoin ETF (Exchange-Traded Fund).
Bitwise Makes a Surprise Move
Recently, Bitwise filed for a Dogecoin Spot ETF. While this might seem unusual given Dogecoin’s meme origins, Bitwise’s Chief Investment Officer, Matt Hougan, shared why they decided to file for the ETF.
In an interview with Thinking Crypto , Hougan said Dogecoin is different from your average meme coin that quickly fades away. “You need to look at this sustained community that’s made it through 12 years and it’s probably going to be here for the next 20,” he said.
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More Than Just a Joke Now
Hougan admits Dogecoin might not be for everyone, but he emphasized its unique place as a community-driven asset.
While most meme coins disappear fast, Dogecoin’s dedicated user base has kept growing. Reports show that Dogecoin has experienced a steady increase in network activity, with higher daily active addresses, trading volume, and whale movements.
Dogecoin’s Community Power
The CIO pointed out that it’s unfair to compare Dogecoin to other short-lived, gimmicky coins like Trump coin, as that’s the wrong analogy.
He argued that Dogecoin’s history, loyal community, and standing as a real token deserve respect.
While Dogecoin may not change the world of finance, its resilience and staying power make it worth paying attention to.
Hougan draws parallels with the rise of communities around cryptocurrencies, like GameStop and WallStreetBets, showing that passionate groups can add significant value to a project.
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Recently, asset manager Grayscale became the third company to file for a Dogecoin ETF, following filings from REX Shares and Bitwise. In the latest update, the SEC has acknowledged Grayscale’s filings to list spot Dogecoin ETFs, marking the first step in the regulatory review process
With a community that’s lasted over a decade, it seems pretty clear Dogecoin is not going anywhere, anytime soon.
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