• VanEck’s subsidiary, MarketVector, launches MEMECOIN fund, focusing on meme coins like Shiba Inu and Dogecoin.
• MEMECOIN index composition reviewed monthly to ensure relevance, with caps on asset weightings for diversification.
• Despite MEMECOIN fund’s success, MarketVector emphasizes its entertainment aspect due to meme coins’ volatility.

With its MEMECOIN fund, VanEck’s subsidiary MarketVector has opened a fascinating new investing option designed especially for meme coins like Shiba Inu (SHIB). This audacious action reflects the increasing awareness of the potential and impact of meme-based cryptocurrencies in the world of digital assets.

The MarketVector  MEMECOIN index includes Shiba Inu as well as other well-known competitors such Dogecoin (DOGE), Dogwifhat (WIF), Bonk (BONK), Pepe (PEPE), and Floki (FLOKI). The selection criteria of MarketVector mostly depend on market capitalization, and the list will be reviewed and maybe updated every month.

The weightings of individual assets inside the index are capped at 30% by MarketVector in order to promote risk reduction and guarantee optimal diversification. With its tendency for extreme price swings, meme coins are known for their volatility, hence this cautious strategy attempts to protect investors from that.

At weights of 28.01% and 30.64%, respectively, Shiba Inu and Dogecoin are the leading participants in the MEMECOIN index. The weights of the remaining meme coins—PEPE, WIF, FLOKI, and BONK—range from 6.21% to 14.18%. With this well chosen combination, investors can reduce concentration risk while also being exposed to a range of meme currencies.

Crypto enthusiasts have paid close attention to the MEMECOIN fund because of its outstanding results since launch. With Wu Blockchain naming it the best-performing index on MarketVector this year and a stunning return of 137.96%, investor interest is still rising.

The MEMECOIN fund’s announcement, meantime, has sparked interest again in meme coin communities, especially among Shiba Inu fans. This is a big deal to them, maybe opening the door for the launch of a special exchange-traded fund (ETF) for SHIB.

Finally, the MEMECOIN fund from MarketVector embodies the changing face of cryptocurrency investments by capitalizing on the growing appeal of digital assets based on memes. The MEMECOIN fund provides a unique way for investors to get exposure to the meme coin frenzy while understanding the risks associated as they negotiate this fascinating but unpredictable environment.

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• VanEck: Bitcoin (BTC) to Hit $10-12K in Q1 of 2023
• Deciphering Crypto Regulations: Insights from VanEck’s Crypto FAQ for RIAs

The post Shiba Inu Community Awaits Dedicated ETF Amid MEMECOIN Fund Debut appeared first on Crypto News Land.

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