ETFs issuers have made registrations for Altcoin ETFs stated the ETF expert Nate Geraci.
The cryptocurrency market might witness the launch of new ETF products in the near future.
The Asian crypto community has yet again woken to Bitcoin hitting a new ATH. This time the digital asset has traversed into the $96K level and has managed to hold prices there. This price movement has also made up for the brief slump the overall market reflected this week. Meanwhile, the market has seen new ETF applications in the past day.
Particularly, ETF market analyst and expert, Nate Geraci stated that there have been registrations for Solana, XRP, and Hedera (HBAR). The community has been awaiting the arrival of the altcoin sector’s ETF. With the current bullish market, ETF issuers seem to have taken steps towards expanding products onto other cryptocurrencies as well.
In addition to crypto index fund uplistings from Grayscale & Bitwise, there are currently spot ETF filings for the following…-SOL-XRP-HBARGuessing at least one issuer takes a flier on ADA or AVAX ETF as well.
— Nate Geraci (@NateGeraci) November 21, 2024
Additionally, Geraci also said that, any of the issuers can be expected to file for ADA or AVAX in the coming days. Previously, on November 11, the ETF expert posted a prediction that expected ETF registrations for several altcoins in the following week. As per his predictions, issuers have taken to file for the aforementioned altcoins.
Moreover, prominent ETF analyst, Eric Balchunas also replied to Nate Geraci’s tweet discussing a DOGE ETF. He stated that by the end of December, a DOGE filing can be expected. Additionally, the analyst was also seen discussing ETFs reaching new milestones in market cap.
What Would an ETF Market Expansion Look Like?
The US ETF market has seen quite the activity over the past 24 hours. Prominent ETF issuer Bitwise has filed a registration for a spot Solana ETF in the State of Delaware as per reports. When analyzing how an ETF market expansion would materialize several factors need consideration.
Firstly, the launch of these ETFs might take more time due to legal and regulatory proceedings. During the launch of the spot Ethereum ETFs, long waiting periods and registrations were observed.
On the other hand, a Donald Trump-headed government and a pro-crypto SEC chair could dismantle certain complications. In terms of the market itself, product expansion in ETFs could draw in more mainstream investors into the crypto sector.
Meanwhile, the spot Bitcoin ETFs have recorded positive flows, while the ETH ETFs have shown outflows in the past trading day. These ETFs, particularly, Bitcoin ETFs have been received well by investors.
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