VanEck Launches Memecoin Index with 15% $PEPE, Monthly Rebalance

VanEck, a prominent asset manager, has launched a new memecoin index, signaling a significant shift in the perception and integration of memecoins into mainstream financial markets. The index, named MEMECOIN, includes top memecoins like $DOGE, $SHIB, $PEPE, $WIF, $FLOKI, and $BONK, with $PEPE constituting 15% of the index. This move by VanEck highlights the growing legitimacy and interest in memecoins, which have outperformed traditional cryptocurrencies and financial instruments in 2024. The index is designed to track the performance of these memecoins, providing a structured entry point for institutional investors into the memecoin market, with a monthly rebalance. Additionally, Hong Kong's six virtual asset ETFs, which include this index, traded a total of HK$26.3161M.