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Memecoins Are Coming to the Stock Market
For the first time, US residents can now invest in memecoins through traditional brokerages. Trading will only get stranger from here.
Under the ruleset, any crypto coin already listed on a market—like Coinbase Derivatives—that participates in the Intermarket Surveillance Group, a network of organizations that monitors for fraudulent activity, would automatically qualify for the ETF treatment. Before the approval of bitcoin ETFs in 2024, proponents argued that they would create a valuable avenue for both laypeople and financial institutions to invest through a regulated vehicle in an asset marketed as a digital equivalent to gold, a hedge against inflation, and so on. Typically modelled after a celebrity or popular internet reference, memecoins generate no revenue or cash flow, so their price depends entirely on caprices of the public mood and the vibes among investors.
Or read this on Wired
