Analyst Nate Geraci predicts ETF issuers may soon file for spot ETFs tracking Cardano (ADA) and Avalanche (AVAX), driven by a friendlier regulatory climate.
Nate Geraci, an analyst, has forecasted that ETF issuers will soon submit applications for spot ETF products that will monitor the performance of Avalanche (AVAX) and Cardano (ADA).
The regulatory environment is considerably more favorable, which may encourage a variety of firms to participate in the altcoin ETF race. Several altcoin ETF proposals for XRP and Solana (SOL) have already been submitted, as reported by U.Today.
The Securities and Exchange Commission (SEC) authorized numerous Ethereum (ETH) exchange-traded funds (ETFs) in May. Nevertheless, the demand for these products was relatively modest in comparison to the spot Bitcoin ETFs that were introduced earlier this year.
BlackRock has already disregarded the possibility of introducing additional altcoin ETFs, as reported by U.Today. In the interim, the aggregate net asset value of Bitcoin ETFs has now exceeded $100 billion in a mere ten months.
Since the commencement of the election, these products have attracted $4.1 billion in inflows. The recent introduction of spot ETF options has reignited interest in Bitcoin ETFs.