The Securities and Exchange Commission (SEC) fast-tracked Bitwise’s application for the third Bitcoin-Ethereum exchange-traded fund ($BTC-$ETH ETF) in the US.

The regulator hasn’t yet approved the ETF but might do so soon, which would allow Bitwise clients to gain indirect exposure to the two leading cryptocurrencies at once.

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

Where Will the SEC Draw the Line for Altcoin ETFs?

Bitwise cleared the first resistance on the path to its ETF approval – 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 probing the SEC’s boundaries. The SEC has already greenlit Canary Capital’s $LTC ETF, so the question is – where will regulators draw the line?

Meanwhile, Bitwise believes the new pro-crypto administration and launch of new ETFs will extend the bull run well into 2026.

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.

Partly 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 amassed $100B. New tokens enter the arena every day, 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.

Ultimately, $MEMEX proves that traditional finance and crypto can coexist and take a page or two out of each other’s books.

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

One token now costs $0.0157183, but the price will increase in less than a day. This means now is the best time to secure your share of $MEMEX before it launches on tier-1 exchanges at a higher price point.

Beyond 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.

The Shiba Inu burn rate has again fueled substantial market optimism across the crypto landscape, witnessing a whopping 7200% surge on Friday. As over 1 billion tokens were removed from the asset’s circulating supply in the past 24 hours, a bullish market sentiment bubbled the meme-themed asset. Further, with on-chain metrics reflecting strong market support for the crypto, an upshot is that investors eye SHIB price gains ahead despite the current market volatility ahead of the U.S. PCE inflation data release.

Shiba Inu Burn Rate Skyrockets 7200% As Nearly 1Bln Tokens Destroyed

As per the latest data by Shibburn, the Shiba Inu burn rate witnessed a whopping 7240% uptick on January 31. This massive upswing is primarily attributed to the removal of 1.1 billion tokens from the circulating supply.

Notably, the wallet address 0xc7d04.. appears to be responsible for the lion’s share in the intraday burn rate upsurge, sending slightly over 1 billion tokens to a null address. In turn, the SHIB circulating supply at the time of reporting shredded and reached 584.25 trillion tokens. Overall, the massive blow to the asset’s supply has reverberated market optimism, mirroring the law of supply and demand.

Recent Community Advancement Bolsters Market Sentiment

Further, the recent launch of ShibOS remains a hot topic across the Shiba Inu community. The recently introduced blockchain-based platform offers users a smooth Web2 to Web3 transition for various use cases. This chronicle has aided the meme coin in broadening its horizon, thereby attracting further market attention.

Can SHIB Price Breakout Amid Burn Surge?

At the time of reporting, SHIB price traded at $0.00001866, showcasing a highly turbulent intraday movement. The top dog-themed meme coin’s intraday bottom and peak were recorded as $0.0000185 and $0.00001896, respectively.

It’s noteworthy that the token faces a critical resistance at the $0.000019 level. Nevertheless, the massive Shiba Inu burn rate surge has uplifted the market sentiment for the asset despite the broader sideways price movement.

On-Chain Metrics Signal Strong Market Support

Renowned crypto market enthusiast Zach Humphries has posted on X, spotlighting bullish metrics for the meme token. Almost 74% of Shiba Inu holders have held onto their holdings for over a year, underscoring retained market interest in the asset despite price fluctuations.

Further, nearly 47% of holders are making returns on the current price level. However, if these holders decide to sell ahead for profit-booking, volatility in price may be expected moving ahead. Nevertheless, current stats reflect a highly prominent market stand for the meme coin, with the Shiba Inu burn surge injecting additional bullishness on future prospects.

Crypto Market Faces Turbulence As PCE Inflation Data Looms

It’s noteworthy that Shiba Inu’s price action currently aligns with the broader crypto market trend. As the U.S. PCE inflation data for December looms to be released on January 31, Bitcoin and altcoins flux. Nevertheless, the recent SHIB burn data and broader community advancements continue to garner optimism about the token’s long-term prospects, flagging a bullish breakout ahead.

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Coingape Staff

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.