Cardano

Avalanche

Spot

<ul>
 <li>Analyst and President of ETF Store Nate Geraci has predicted the imminent filing of Spot ETFs for Cardano and Avalanche driven by growing interest in altcoins and favorable regulatory grounds.</li>
 <li>Bitcoin ETFs have amassed $100 billion in net asset value in ten months.</li>
</ul>
The cryptocurrency community is buzzing with anticipation after one renowned analyst gave a bullish prediction for the Exchange Traded Funds sector. Nate Geraci, President of ETF store took to the<a href="https://x.com/NateGeraci/status/1859406227068932213" target="_blank" rel="noopener noreferrer nofollow"> X platform</a> highlighting that ETF issuers may soon file for spot ETFs for Cardano and Avalanche stating “Guessing at least one issuer takes a flier on ADA or AVAX ETF as well.”
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 In addition to crypto index fund uplistings from Grayscale &amp; Bitwise, there are currently spot ETF filings for the following…
 -SOL -XRP -HBAR
 Guessing at least one issuer takes a flier on ADA or AVAX ETF as well.
 — Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1859406227068932213?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 21, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
ETF issuers have increased their interests in expanding their crypto products beyond Bitcoin and Ethereum. Hard on the heels of the SEC approval for Ethereum ETFs, other ETF issuers found the courage to table their applications for altcoins such as Solana, XRP and HBAR.
Backtracking, The Securities and Exchange Commission (SEC) approved the first 11 spot Bitcoin exchange-traded funds (ETFs) in the United States on January 10, 2024. Fast forward to May, the regulatory body approved the first spot Ethereum exchange-traded funds.
The Ethereum ETF approval was a stepping stone as it set the stage for other altcoins like, in this case, Cardano and Avalanche to potentially join the ETF arena.
Altcoins such as <a href="https://www.ethnews.com/ripple-ceo-predicts-xrp-etf-as-inevitable-sees-crypto-prices-surging/" target="_blank" rel="noopener noreferrer nofollow">XRP</a>, <a href="https://www.ethnews.com/new-solana-etf-application-filed-by-canary-capital-as-vaneck-still-in-play/" target="_blank" rel="noopener noreferrer nofollow">Solana</a>, and Hedera are already under consideration as Ethnews <a href="https://www.ethnews.com/canary-capital-files-with-sec-to-launch-first-ever-hedera-hbar-etf-offering-direct-exposure-to-hbars-value/" target="_blank" rel="noopener noreferrer nofollow">reported</a>. Notably, Cardano and Avalanche could naturally follow. Investors are increasingly seeking diversified exposure to blockchain, driving this trend.
Despite the growing interest, not all players are eager to jump into the altcoin ETF race. BlackRock, a prominent asset manager and big player in the Bitcoin ETF space, has reportedly ruled out launching additional altcoin ETFs. This cautious approach could stem from concerns over liquidity, regulatory challenges, or market maturity of altcoins compared to Bitcoin.
Nonetheless, the market’s appetite for Bitcoin ETFs remains strong. In just ten months, Bitcoin ETFs have amassed a staggering $100 billion in total net asset value, with $4.1 billion in inflows since the start of the U.S. election period. The success of Bitcoin spot ETFs has reignited interest in crypto-focused investment products, potentially paving the way for altcoin ETFs to flourish.
<h3 id="strong-cardano-and-avalanche-surge-strong">Cardano and Avalanche Surge</h3>
Meanwhile, in tandem with the broader market conditions, ADA and AVAX are on a bullish spree. This comes to play as the two altcoins are recording increased price momentum. At the time of writing, holding the 9th position, ADA is swapping hands with $0.782 marking a 34.86% and 116.35% in the past week and month respectively driving its market cap to $27.42B.
Its counterpart, AVAX is exchanging wallets with $34.18 marking a 1.95% and 24.44% surge in the past week and month respectively. Additionally, the digital asset’s market cap has undergone a slight decrease of 1.84% stopping at $13.98B.
The post <a href="https://www.ethnews.com/cardano-and-avalanche-etfs-on-the-horizon-analyst-predicts-spot-filings-amid-market-surge/" rel="noopener noreferrer nofollow">Cardano and Avalanche ETFs on the Horizon? Analyst Predicts Spot Filings Amid Market Surge</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

Cardano and Avalanche ETFs on the Horizon? Analyst Predicts Spot Filings Amid Market Surge

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