- The growing interest in crypto ETFs includes potential filings for XRP, Solana, and Cardano.
- Regulatory shifts tied to the U.S. election could impact crypto ETF approvals.
As a seasoned analyst with years of experience navigating the volatile and ever-evolving world of cryptocurrencies, I find the recent developments surrounding potential crypto ETF filings quite intriguing. The potential inclusion of popular assets like XRP, Solana, and Cardano is a clear testament to the growing acceptance and maturity of the digital asset space.
As a crypto investor, I’ve been thrilled by the remarkable achievements of the Spot Bitcoin [BTC] ETFs. These milestones have undeniably set the stage for an exciting growth spurt in the cryptocurrency ETF market, implying more opportunities for us to diversify our investments.
Are other crypto ETFs incoming?
Experts in the financial industry, such as Nate Geraci, president of The ETF Store, have noted an increasing trend towards new applications. This could potentially mean the arrival of exchange-traded funds (ETFs) that are directly linked to popular digital assets such as Ripple‘s XRP, Solana [SOL], and Cardano [ADA].
Over the last month, there has been much debate about how the upcoming U.S. presidential election might affect the way crypto ETFs are regulated, particularly for assets like XRP and SOL. Many experts in the field predict that the outcome of the election could influence the Securities and Exchange Commission’s [SEC] stance on digital asset ETFs, possibly impacting approval rates and shaping future regulations.
Remarking on the same, in his recent post Geraci noted,
Forecast: Multiple applications for Spot Crypto Exchange-Traded Funds (ETFs) are expected to be filed this week. These could include XRP, SOL, ADA, and others. With the election results known, it seems that several issuers have been well-prepared and there’s little risk in taking a proactive stance at this point.
Community reaction
This remark was met with positive reception from many. For instance, one X user commented,
“Would love to see some $ADA filings”
Nevertheless, this move led to a heated discussion and some negative feedback among cryptocurrency enthusiasts. The omission of Dogecoin [DOGE] in particular caught people’s attention, causing some surprise and suspicion.
Expressing the same another X user said,
“What about Doge ETF?”
As a crypto investor, I’ve noticed that the current market dynamics could be influencing the situation. The lackluster performance of Ethereum [ETH] ETFs relative to Bitcoin might have momentarily shifted the spotlight away from memecoin ETFs. However, Geraci isn’t alone in his observations regarding this evolving trend.
During an appearance on Bloomberg TV towards the end of October, Ripple’s CEO Brad Garlinghouse displayed confidence regarding the prospect of Exchange-Traded Funds (ETFs) based on cryptocurrencies. He implied that a broader acceptance of diverse assets might be in store for us in the future.
He said,
As a forward-thinking cryptocurrency investor, I firmly believe that the future holds more than just Bitcoin and Ethereum. I’m confidently anticipating the emergence of an Exchange Traded Fund (ETF) centered around Ripple (XRP). It’s not a matter of if, but when this exciting development unfolds.
Furthermore, on November 1st, Canary Capital’s submission of an S-1 form to the SEC for a Solana ETF trading on the spot market represents a significant stride, underscoring growing excitement in the cryptocurrency ETF sector.
Impact on token’s price action
With Donald Trump’s victory and the surge in popularity of cryptocurrencies, it’s clear that the upcoming trends will significantly impact the future landscape of digital assets. I’m excited about what these developments might bring!
Just as anticipated, this fresh news has sparked optimism across the market. Solana experienced a 5.12% increase within the last day, while Cardano saw a bump of 2.02% and XRP gained 0.44%. Interestingly, Dogecoin soared more than 20%, despite no recent mentions in filings.
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2024-11-12 05:12