๐ The Rise of Altcoin ETFs: Are They Coming? ๐
With the crypto-friendly government under Donald Trump potentially opening the door for altcoin ETFs, the crypto market is buzzing with anticipation. Trump's administration could pave the way for ETFs focused on major altcoins like Solana (SOL) and Dogecoin (DOGE), following a significant rally in the altcoin market.
Since November, we've seen impressive growth in major altcoins such as XRP, DOGE, SOL, and ADA, as investors flock to these assets in anticipation of crypto-friendly policies from the new government set to take office on January 20th.
Nate Geraci, President of ETF Store, highlighted the potential for movement in this area, stating, โI believe everything is on the table under the new administration." The new government is expected to bring regulatory clarity to the crypto sector, making the path for spot altcoin ETFs much clearer.
In fact, Cboe BZX has already submitted an application for a Solana ETF, with experts predicting it could launch in 2025. Louis Sykes, a crypto analyst, sees Solana ETFs becoming available in the first half of 2025. However, memecoins like DOGE may face a longer road to ETF approval, despite optimism from Eric Balchunas, a senior ETF analyst at Bloomberg, who believes DOGE ETFs will eventually come to market.
Alexander Blume, CEO of Two Prime Digital Assets, also sees DOGE ETFs becoming a reality, thanks to the success of BTC ETFs, which could lead financial firms to create new products.
The crypto industry is eagerly awaiting these regulatory changes, as they could mark the beginning of a new era for altcoins and the entire crypto market.
This post is not financial advice.
