One pivotal image coin is slated as the most likely candidate to lead the charge as the crypto-focused ETF market grows this year.
” In 2025, a main resource manager will release a joke gold ETF…Our budget’s on DOGE”, crypto trading company Wintermute wrote in a Friday statement.
Traditional financial institutions showed a notable interest in trading meme coins last year, with Solana-based tokens Dogwifhat ( WIF), BONK ( BONK), and PONKE ( PONKE ) driving Wintermute’s Over-the-Counter ( OTC ) market share growth from 0.3 % in 2023 to 5.1 % in 2024, it wrote.
No resource boss has already filed for a place Dogecoin ETF in the U. S., but Jake Ostrovskis, an OTC investor at Wintermute, stood by the agency’s forecast. He acknowledged, nevertheless, that Wintemute’s visit was intended to be fairly tongue-in-cheek.
” Level eventually drives curiosity, which eventually drives indexation”, he said. ” If the meme coin sector does continue, you can imagine where it goes, and the most liquid name within that]group ] is DOGE”.
Dogecoin was created in 2013 as a pun, parodying the market with its obvious lack of energy.
Since therefore, it’s been popularized by technical CEO Elon Musk. Meme currencies, in public, have become one of crypto’s hottest styles —even if they trade on little more than feelings and are as dangerous as bitcoin gets.
Among traditional financial institutions, OTC place levels for meme currencies increased 210 % from 2023 to 2024, per the statement. Overall, meme coins became more popular, representing 16 % of Wintermute’s OTC volumes in 2024 compared to 7 % in 2023.
Financial institutions commonly use OTC trading desks to execute huge transactions. They can frequently offer traders with better prices by trading on multiple exchanges as opposed to only one program in the framework of crypto.
As Ostrovskis described it, a piece of Wintermute’s counterparties come from a standard banking history. The blockchain market’s separation can be a headache, with” so many different currencies and so many various chains”, he said.
Dogecoin and Shiba Inu respectively accounted for 53.6 % and 34.6 % of Wintermute’s OTC volumes in 2024, yet other coins saw an uptick in popularity.  ,
Among the most prevalent were Dogwifhat and Pepecoin ( PEPE), which saw volumes increase to 1.4 % and 9 %, respectively.
Ostrovskis noted that OTC volumes may be affected by changing narratives in bitcoin, with Wintermute’s counterparties beginning to trade meme currencies in March and having an” AI angle” toward the year’s end.
” It gets a lot of attention when it’s hot”, he said. ” But at the time, it has cooled down a bunch”.
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