BitMEX co-founder Arthur Hayes predicted that Dogecoin will receive an Exchange-Traded Fund (ETF) approval in the United States by the end of the current bull market cycle. Hayes believes that with institutions looking to break into crypto, Dogecoin's popularity and high market cap make it an attractive option for fund providers. Regulators will inevitably approve a Dogecoin ETF, following the success of Bitcoin and Ethereum ETFs in the US public markets.

Hayes, alongside Real Vision CEO Raoul Pal, discussed their favorite meme coin and crypto picks for this cycle, as well as the top risks facing the industry. According to Hayes, meme coins still have plenty of room to grow, and the market will get "even crazier" as the Federal Reserve and US Treasury continue to print more money. Meme coins are attractive to new investors because they are easy to understand, and their popularity will continue to drive growth in the market.

Both Hayes and Pal have invested in dog-themed coins like Dogecoin (DOGE), BONK, and dogwifhat (WIF). They agree that Dogecoin's ETF approval is a matter of time, given its high market cap and availability on Robinhood. Dogecoin has seen a significant increase of 136% over the past year, while WIF has mooned by nearly 1600% since its launch in December.

The investors also discussed other cryptos, with Pal expressing a strong interest in Solana, calling it "the right bet to have." Hayes, on the other hand, predicts that Aptos will flip Solana in the layer 1 game within the next 1 to 3 years. They also shared concerns about Cardano, calling it a "narrative of the last cycle," and Ripple (XRP). Additionally, they highlighted the risks posed by large centralized venues controlling massive sections of the crypto market, such as Derebit's dominance in the options market and Coinbase's control over Bitcoin ETFs.

In conclusion, Hayes' prediction of a Dogecoin ETF approval signals a new era for meme coins and the crypto market as a whole. With institutions looking to break into crypto, meme coins will continue to attract new investors and drive growth in the market. However, the industry must also address the risks posed by centralized venues and ensure that investors are protected from potential losses.