Investment giant VanEck, known for its exchange-traded funds (ETFs), has taken a plunge into the world of meme coins with the launch of the MarketVector meme coin index called “MEMECOIN”.
What Happened: This index tracks the performance of the six largest meme coins, a category of cryptocurrencies often inspired by internet jokes and cultural references.
The MEMECOIN index is a modified market capitalization-weighted index, meaning the holdings are selected based on their market value, with a twist.
While the top six meme coins are included, each coin’s weighting is capped at 30%. ...
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