Despite community opposition, Eric Balchunas, a senior ETF analyst at Bloomberg, remains adamant that Dogecoin lacks utility. He reiterated this view on the X platform (formerly Twitter) on Wednesday, and questioned the practical use of Dogecoin. Responding to the opposition to previous remarks that "Dogecoin has no utility," Balchunas asked the disgruntled Dogecoin (DOGE) community to explain what the "meme coin" is actually used for.
To put that in context, the Bloomberg ETF expert revealed on Tuesday that the first US ETF to track the performance of Dogecoin, the largest meme coin by market capitalisation, would be launched later this week, adding in his statement that the vehicle would be the first "ETF with the intention of holding assets with no real purpose".
Bloomberg ETF analyst: insists that Dogecoin lacks the practicality required for ETFs
2025-09-10 07:14:58
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