5 Best Meme Coins to Buy Today With ETH ETF Imminent
Meme Coin is on the rise thanks to reports that the U.S. Securities and Exchange Commission (SEC) is likely to approve a spot ETH ETF.
The U.S. SEC must decide on May 23 and May 24 whether to approve Vaneck and Ark Invest’s spot ETF applications. According to Reuters, the rally stems from the SEC requesting an update to 19b-4 filings before the end of Tuesday, May 21.
This rise was accelerated by Bloomberg ETF senior analyst Eric Balchunas, who posted the following
Balchunas’ colleague James Seyffart hastily edited the post, saying the reference was to a 19b-4 approval but that S-1 approval could be delayed.
It may seem like a U-turn, but something similar happened before the approval of the spot Bitcoin ETF. There is no indication that the US SEC will delay S-1 approval or approve new ETFs.
It is worth noting that not too long ago, expectations for the approval of a spot ETH ETF were very low. When ARK Invest removed the Ether staking clause from its application in mid-May, it was seen as a last-ditch effort to get the cryptocurrency ETF approved.
But on Tuesday, Fidelity amended its S-1 filing with the SEC to remove the staking feature from its exchange-traded fund. In other words, Fidelity is following in the footsteps of ARK Invest.
Source: SEC
Ethereum is up about 30% in the past 24 hours, reflecting expectations of approval. Unlike the Bitcoin spot ETF approval, it is highly unlikely that Gensler’s X account will be compromised this time.
According to Dexscreener, meme coins were the biggest gainers from Tuesday’s rally in the cryptocurrency industry recently. This is not surprising, as meme coins also enjoyed a big boost when BTC rallied following spot ETF inflows.
Source: Dexscreener
Top 5 Meme Coins to Watch Once ETH ETF Gets Approved
Here are the best meme coins you could buy if the spot Ethereum ETF is approved by Thursday. Please note that meme coins can be subject to high volatility in cryptocurrency markets.
1. $MOG – Internet Culture Coin
$MOG is a relatively new meme coin that was launched in 2023. The token was launched on Ethereum and Base.
Since the token contract is on Ethereum, increases in the underlying blockchain (in this case Ethereum) are often amplified in the token price. In this case, $MOG made huge gains in the cryptocurrency market.
Due to its popularity and high liquidity, MOG is a worthy candidate as the best meme coin to buy if a spot ETF is approved.
2. $KOT – A new cat-themed meme coin
$KOT was recently launched on Solana and belongs to the category of cat meme coins. As is common with new launches, prices rose before falling.
This token has been trending in the last 24 hours and has caught the attention of many meme coin enthusiasts.
Due to interest, the token may be worth tracking if the U.S. SEC gives the ETF its approval.
3. $OMGCAT – Solana’s wild cat
$OMGCAT is a meme coin launched in May 2024. Like $MOG, the cat-themed meme coin is also performing quite well in the current market conditions.
Although it is not an ERC-20 token, smart contracts are launched on Solana instead of Ethereum. Most of the best blockchain networks can benefit from ETF approval.
The tokens are highly liquid and can be used on decentralized and centralized exchanges such as MEXC.
4. $SEAL – Potential pre-sale gems
$SEAL meme coin presale has raised $2 million to date (ongoing). Unlike cats, this project centers around seals, who have chosen Solana as their natural habitat.
Due to high-profile pre-sales, investors often expect the tokens to explode upon launch. ETF approval may lead to new bulls joining the cryptocurrency meme coin.
VanEck recently further solidified the meme coin sector by releasing the MEMECOIN Index, which tracks the top meme coins by market capitalization.
5. $KAI – New ERC-20 cryptocurrency gem
$KAI is a meme coin featuring a cat on the Ethereum blockchain. Pre-sales recently began, and about $250,000 has been raised so far.
This project aims to infiltrate the best cat meme coins. If the US SEC agrees to the Ether ETF, it could have a direct impact on the capital raised during the pre-sale phase and the tokens upon launch.
If you’re new to cryptocurrency, the Meme Coin project doesn’t necessarily offer innovation. The most profitable meme coins have achieved success primarily due to their community and social media popularity.
Will the SEC approve a spot Ethereum ETF?
Despite the increased odds, uncertainty about approval remains significant. However, a positive signal was received a few hours ago when the VanEck ETH ETF (ETHV) was listed on the Depository Trust & Clearing Corporation (DTCC) website.
Source: DTCC
Although it is disabled until regulatory approval is received, this is a positive sign. All eyes will be on whether the US SEC will approve or disapprove ETFs containing blockchain stocks.
Always check your news sources, as past events often lead to fake news appearing around major announcements.
