Although Rex and Osprey have not launched Dogecoin ETF as part of the new regulation, take another route involving separate legal provisions to guarantee that it wins the market race, analysts expect the new dry registration standards to increase a proliferation of FNB Crypto in the United States. Under the set of rules, any cryptographic coin already listed on a market – such as Coinbase derivatives – which participates in the Intermarket surveillance group, a network of organizations that monitors fraudulent activity, would be automatically eligible for ETF treatment.
“It’s a spaghetti cannon. They will cook all these ETFs – whether versions, opposite or pure versions – and they go to Frickin to pull this barrel on the wall and see what sticks, ”explains Seyffart. “This is what these ETF issuers do.”
Before the approval of Bitcoin ETF in 2024, supporters argued that they would create a precious avenue for laymen and financial institutions to invest in a regulated vehicle in an active as aer -digital equivalent to gold, coverage against inflation, etc.
Whatever the merits of the Bitcoin investment affair, the argument for the same is more fragile. Generally modeled after a celebrity or a popular internet reference, the same generates any income or cash flow, so their price depends entirely on the whims of the mood of the public and the vibrations among investors. In the case of Dogecoin, the supply of coins is even periodically diluted. “With the same, it would be difficult for a financial advisor to feel comfortable buying this for a customer,” explains Armor.
His position on the perspective of the FNB and the arrival on the mass market could depend on personal policy.
“I am very libertarian in the way the dry should work … The work of the dry is not to be a merit regulator. His work is to be a disclosure regulator, ”explains Seyffart. “Personally, I do not have or not to exchange for the same and I will probably have no ETF same. But it’s a free market. People can do what they want. “
Others, including Armor, believe that it is the joint responsibility of regulators, issuers and investors to ensure that public procurement is not polluted with assets likely to inflict significant and sudden losses.
“The dry approving the bet in an ETF makes people who do not know what these things think they are more legitimate?” requires armor. “It attracts more attention and assets to speculation, which is generally not a good long-term strategy for investors,” he said.
SEC refused to comment.
In the opinion of the king, the moralization on the assets should and must not be stuffed in an FNB is outside the point; The government has defined what is authorized. Rex and Osprey “consider it mainly as giving access to investments that already exist,” explains King. “”[If there’s] The demand of investors is something that we will consider launching. »»
In January, Rex and Osprey asked permission to launch ETFs for a variety of other coins, including the same promoted by Trump. The Trump even was strongly condemned by criticisms as a money grab contrary to ethics which opens a potential vector for corruption.
“We simply conclude according to the rules,” says King. “The lines were traced … by the administration.”
