The Lines Between Old-School Finance and Crypto Are Blurring

The SEC's warming up to crypto ETFs – it has already said yes to $BTC and $ETH, so altcoins and even meme coins could be next.

The Securities and Exchange Commission (SEC) has accepted Bitwise’s application for the third Bitcoin-Ethereum exchange-traded fund (ETF) in the United States.

The regulator has yet to approve the ETF, but it could do so soon, allowing Bitwise customers to gain indirect exposure to the two leading cryptocurrencies simultaneously.

While institutional investors are discovering crypto through ETFs, the degen community is discovering traditional investment vehicles like indexes. Meme Index ($MEMEX) could pioneer this new trend.

Bitwise has cleared the first hurdle in its ETF approval process – the 19b-4 form. Now, the issuer awaits the approval of the S-1 form for the fund to hit the market.

Earlier this week, Tuttle Capital also filed for ten altcoin ETFs, including meme coins $TRUMP, $MELANIA, and $BONK.

Bloomberg analyst James Seyffart points out that ETF issuers are testing the SEC’s boundaries. The SEC has already greenlit Canary Capital’s $LTC ETF, so the question is – where will regulators draw the line?

The rapid growth of the $BTC ETF sector is a good case in point.

The first spot $BTC ETFs by BlackRock, Fidelity, and Grayscale were approved in January 2024. A year later, there are 12 US $BTC ETFs with total cumulative inflows of $40.18B.

Yesterday’s $BTC ETF inflows alone amounted to $588M, with BlackRock’s IBIT ETF leading the charge ($321M).

US $ETH spot ETFs also recorded $67.77M inflows yesterday, bringing the total inflows to $2.73B.

Partially due to the accelerated institutional adoption driven by ETFs, $BTC rose 143% year-to-date and now trades at $$104K.

If the SEC were to approve altcoin ETFs, the entire 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 explore crypto through ETFs, degen traders tap into stock market products like indexes.

Meme Index ($MEMEX) resolves the two main hurdles of meme coin investors – finding promising coins and managing risk.

It introduces four meme coin indexes that cater to different risk appetites: Titan (the least volatile), Moonshot and MidCap (mid volatility), and Frenzy (high-risk, high-rewards assets).

The meme coin market cap has reached $100B. New tokens enter the arena daily, and the leaderboard can change in the bat of an eye. That’s why putting all your hard-earned money into one project isn't the best strategy.

By investing in eight tokens instead of one, you spread risk and offset potential losses, thus enjoying higher average returns.

Early adopters have already invested $3.1M in the $MEMEX presale and staked 139M tokens at a 718% dynamic APY.

Besides providing access to Meme Index baskets, the $MEMEX token gives its holders governance rights to steer the project’s direction.

Crypto’s Coming of Age

The lines between old-school finance and crypto are blurring.

The SEC’s warming up to crypto ETFs – it has already said yes to $BTC and $ETH, so altcoins and even meme coins could be next. This means Wall Street is finally taking crypto seriously.

And with projects like Meme Index, we see degens embracing the tried and tested investment strategies.

All of this means one thing – there’s no way of stopping the crypto train.

However, remember to DYOR before investing in any project. Even the broader bull run and strong project fundamentals don’t guarantee returns.