VanEck Launches MEMECOIN Index to Track Leading Meme Tokens Like DOGE and SHIB

VanEck introduces a meme coin index, MEMECOIN, tracking top meme tokens like BONK, FLOKI, DOGE, PEPE, WIF, and SHIB. VanEck expands its portfolio beyond the HODL ETF, capturing the speculative liquidity of meme coins. DOGE and SHIB lead the index weightings as VanEck emphasizes the entertainment nature offered by meme coins, signaling an inclusion of cat-themed tokens shortly. Additionally, the index highlights the growing recognition of meme coins following the investment plans of Avalanche Foundation in late 2023. Overall, VanEck’s initiative strives as a significant step to legitimize meme coins, similar to Bitcoin’s integration into traditional markets through ETFs.