Bloomberg ETF Analyst: Maintains that Dogecoin lacks the utility required for an ETF

Jinse Finance reported that despite opposition from the community, Bloomberg senior ETF analyst Eric Balchunas remains firm in his belief that Dogecoin lacks utility. On Wednesday, he reiterated this view on the X platform (formerly Twitter), questioning the actual use cases of Dogecoin. In response to the backlash over his previous comments that "Dogecoin has no utility," Balchunas challenged the dissatisfied Dogecoin (DOGE) community to explain what real-world application scenarios this "meme coin" actually has. For context, this Bloomberg ETF expert revealed on Tuesday that the first US ETF tracking Dogecoin (the largest meme coin by market capitalization) will be launched later this week. In addition, he stated in his announcement that this investment tool will become the first ETF to "intentionally hold an asset with no real utility."