Did you miss the Bitcoin frenzy? Are you regretting missing the rise of Ethereum? Now, the altcoin market seems to be brewing a new storm. Are you ready to seize this opportunity?
Recently, the long-established altcoin XRP seems to have awakened overnight, with its price reaching a seven-year high, and its market capitalization surpassing Solana, becoming the new darling of the crypto market. On December 2nd, XRP's market cap broke through Solana, jumping to fourth place on the cryptocurrency market cap ranking, rising an astonishing 17.6% within 24 hours, with a price close to $2.28 and a market cap reaching approximately $130.1 billion. Does this scene remind you of the glory days of Bitcoin and Ethereum?
What has driven such a strong rise in XRP? The answer may be closely related to the progress of the lawsuit between Ripple and the SEC. Former CFTC Chairman Chris Giancarlo hinted in an interview that the SEC might reconsider its lawsuit against Ripple, which undoubtedly injected strong momentum into XRP's rise.
In this altcoin storm, the demand for crypto ETPs in the European and American markets is also surging. With the regulatory environment in the U.S. becoming clearer, more institutions are actively applying for altcoin ETFs, with giants like Bitwise, Canary, 21Shares, and WisdomTree joining the fray. In Europe, despite the asset management scale being less than that of the U.S., the status of crypto ETPs as an investment tool has already been solidified, with institutions like Bitwise, 21Shares, and Kaiko actively making arrangements.
Why are these institutions so eager for altcoin ETFs? Perhaps we can find some clues from the soaring market value of Grayscale's investment portfolio. Driven by altcoins like XLM and XRP, Grayscale's market value has increased by 85% in the past month. In particular, the surge in XLM's price is partly attributed to Grayscale recently adding a large number of XLM tokens to its trust. Does this scene show you the unlimited potential of altcoin ETFs?
The data from the U.S. Ethereum ETF further confirms the arrival of the altcoin era. On November 29th, the U.S. spot Ethereum ETF set a new record for single-day capital inflows, with several cryptocurrency commentators pointing out that the inflow of funds into the Ethereum ETF that day even surpassed that of the spot Bitcoin ETF. Does this mean that Wall Street has officially started to join the ranks of altcoin rotation?
In this feast of altcoin ETFs, the European market is also not to be outdone. Despite being limited by UCITS regulations and lacking real cryptocurrency ETFs, the scale and development potential of the crypto ETP market in Europe should not be overlooked. Companies like CoinShares, Bitwise, and 21Shares have already established important positions in this field, and with the gradual easing of regulations, the development potential of crypto ETFs in the European market is enormous.
For investors, ETPs offer a more regulated and cost-effective way to invest, avoiding the volatility risks that direct holdings of crypto assets may bring.
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The above content is for informational sharing only and does not constitute any investment advice! Investment carries risks, and one should proceed with caution!
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