The post Jim Cramer is right: Dog coin ETFs are this bull market’s missing spark appeared on BitcoinEthereumNews.com.

All things considered, there probably won’t be a BONK ETF anytime soon. But the notion that cryptocurrencies might one day invade the stodgy stock market via ETFs is seriously compelling.  Mad Money host Jim Cramer was on the right track during his CNBC appearance yesterday. “Why shouldn’t there be a BONK ETF?” Cramer asked SEC Chair Gary Gensler. However, the real trick to getting SEC approval has turned out to be courting CME, which is regulated by the CFTC — and not Gensler’s agency. Bitcoin and ether both had futures markets for years before spot ETFs were approved. Perhaps a dog coin fund might be an easier sell. Coinbase Derivatives, which is also regulated by the CFTC, launched its own dogecoin futures markets not long ago. CME Group denied it had any plans for dogecoin futures when rumors circulated in 2021. What better time to revisit that decision than now? CNBC talks memecoins — a bull signal? It wasn’t even just a BONK ETF that was floated on CNBC yesterday. Cramer also made the case for ETFs backed by sushiswap, polkadot, cardano (he called it “cordano”), immutable, ronin and osmosis and myneighbouralice. “[They have] all traded millions — I’m talking millions of dollars this very morning… I would think that BONK is a natural, and osmosis… shouldn’t we have some sort of product?” Gensler sidestepped by redirecting the question to the matter of disclosure. Today is the SEC’s 90th birthday, he said, and reminded the audience (talking into the camera) that President Roosevelt created the Commission to ensure sellers of securities openly inform prospective investors so they can make better decisions. The moment Gensler found out about $CRAMER, which spiked up to 500% following the segment (Source: CNBC Television) Gensler’s point was that those disclosures supposedly aren’t happening across crypto.…

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Filed under: News - @ June 6, 2024 7:18 pm