Bloomberg Analyst Doubles Down: Dogecoin Still Lacks Utility for ETF Approval

Another day, another reality check for meme coin enthusiasts.

Why ETFs Remain a Distant Dream

Bloomberg's top crypto analyst just slammed the door on DOGE ETF hopes—citing zero substantive utility beyond Elon Musk's tweet-fueled pump cycles. The assessment cuts through the hype: no institutional-grade infrastructure, no sustainable use cases beyond tipping internet content, and volatility that makes traditional finance veterans break out in cold sweats.

Meanwhile, Wall Street keeps approving Bitcoin and Ethereum ETFs while treating Dogecoin like the class clown of digital assets. Maybe that's because serious money prefers assets with actual revenue models—not just 'to the moon' memes and cult-like devotion.

Funny how the 'people's currency' still can't convince people with actual capital to take it seriously.

Despite community backlash, Bloomberg senior ETF analyst Eric Balchunas maintains an unwavering conviction that Dogecoin lacks utility. He took to X (formerly Twitter) on Wednesday to reiterate this sentiment, questioning the utility that Dogecoin provides.

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