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Reading: XRP, Tron, Solana… Altcoins are in the ETF Race!
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EdaFace Newsfeed > Latest News > Altcoin News > XRP, Tron, Solana… Altcoins are in the ETF Race!
Altcoin News

XRP, Tron, Solana… Altcoins are in the ETF Race!

vitalclick
Last updated: October 24, 2024 5:28 pm
1 year ago
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Contents
Is an XRP ETF Possible?Things Are Difficult for TronThe Rise of Solana

Bitcoin $66,872 and Ethereum $2,522 Following the approval of its ETFs in the US and other regions, investor interest is now shifting to Altcoin ETFs. Solana continues to be one of the prominent names in this field.

Is an XRP ETF Possible?

Ripple $0.528099 CEO Brad Garlinghouse believes an XRP ETF will happen in the near future. He states that despite ongoing legal proceedings with the SEC, demand for ETFs remains high. This indicates that institutional and individual investor interest in XRP may increase.

Recently, $17 billion of capital was directed to the fastest-growing ETF in history. This shows that ETFs are an important bridge in accessing cryptocurrencies. Garlinghouse called the XRP ETF “inevitable” in an interview with Bloomberg.

Things Are Difficult for Tron

Tron surpasses Dogecoin in terms of market cap $0.137487Although it is right behind , the likelihood of a Tron ETF emerging in the US is low. This is due to legal issues and market conditions regarding Tron’s founder. This makes it difficult for traditional investors to make large investments in Tron. Ryan Lee, principal analyst at Bitget Research, thinks a Tron ETF is unfeasible for now.

The Rise of Solana

Solana attracted attention by gaining approval for a spot ETF in Brazil. There is also an application made by VanEck in the USA. Other altcoins with lower market capitalization are also among ETF candidates. XRP and Dogecoin also stand out in this race.

Bitwise Asset Management and Canary Capital Group are among the companies that have applied for an ETF for XRP. However, given the young nature of Altcoin ETFs and existing regulatory hurdles, it remains unclear how these processes will proceed.

Altcoin ETFs could open up the cryptocurrency market to a broader audience of investors. Approval of ETFs could accelerate adoption by adding legitimacy to this asset class. While altcoins such as Solana and XRP are gaining attention in the ETF space, this probability seems low for Tron. Still, developments will be shaped by market dynamics and legal processes.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.

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