Three applications for meme coin exchange-traded funds (ETFs) tracking dogecoin (DOGE), Trump coin (TRUMP), and another token named BONK are currently under review by the Securities and Exchange Commission (SEC). Despite the potential approval, the legitimacy of meme coins is under scrutiny as they lack intrinsic utility. Experts suggest that the marketing of such ETFs must be approached cautiously; presenting them as prudent investments would be unethical. Notably, while some in the crypto community find meme coins entertaining for their potential quick profits, others express concern over the conflicts of interest when prominent figures such as a president enter the cryptocurrency space. James Angel, a financial expert, questions the long-term value of meme coins, whereas Nic Carter, a venture capitalist, critiques the ethics of a president engaging in crypto ventures while holding office. The ramifications of these potential ETFs highlight an ongoing debate around the investment nature of meme coins and their ethical implications in institutional investment decisions.

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