Cardano (ADA) is expected to soon enter the spot ETF race as fund issuers are increasingly likely to apply to develop products that track the performance of Cardano and Avalanche (AVAX).
Analyst Nate Geraci noted that the current regulatory environment has become more favorable, which could encourage companies to expand into alternative ETFs.
Currently, the market is already seeing multiple proposals for ETFs for altcoins like Ripple and Solana, while Bitcoin spot funds remain the most attractive, with the total net asset value of Bitcoin reaching $100 billion in just ten months.
It has also attracted inflows of $4.1 billion since the start of the elections.
Despite the US Securities and Exchange Commission giving the green light to Ethereum (ETH) exchange-traded funds in May, these products have seen relatively low demand compared to Bitcoin funds.
In contrast, BlackRock has announced that it does not plan to launch additional exchange-traded funds for altcoins, leaving the field open for other players to enter the sector.
If spot funds are introduced for coins like Cardano and Avalanche, it could be a significant step towards strengthening the position of these coins in traditional markets.
