Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 11919
Markets: 92094
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
11919
Cryptocurrencies
54.89%
Bitcoin Share
Coinpaprika 2024-12-04 09:15:42

SEC Weighs Solana and XRP ETFs: Altcoin Boom Ahead?

SEC Weighs Solana and XRP ETFs: Altcoin Boom Ahead?

The New York Stock Exchange (NYSE) has filed an application with the U.S. Securities and Exchange Commission (SEC) to convert Grayscale's Solana Trust into an Exchange-Traded Fund (ETF), mirroring the strategy it used for its Bitcoin ETF. This move aligns with a growing trend of applications for altcoin ETFs, including recent filings for XRP -focused products by firms like WisdomTree, VanEck, and 21Shares. Grayscale’s Solana ETF aims to provide institutional investors a safer, regulated way to invest in Solana ( SOL ) through a spot ETF listed on a national exchange. If approved, Solana would become the third cryptocurrency with institutional investment opportunities in the U.S., following Bitcoin and Ethereum. Solana's price has already reacted to the news, jumping nearly 5% in one day. Grayscale is not alone in pursuing Solana ETFs. At least four other asset management firms, including VanEck, 21Shares, Bitwise, and Canary Capital, have filed similar applications with the SEC in November. This increasing interest reflects growing institutional enthusiasm for altcoins as Bitcoin's dominance in the market declines. The SEC has reportedly engaged in quiet negotiations over these filings, signaling potential progress. Approval of a Solana ETF would mark a major milestone for regulatory acceptance of cryptocurrencies in the U.S. Such a move could pave the way for further institutional investments and likely fuel a bullish trend in the altcoin market. Analysts predict a broader "altcoin season," with renewed interest in other cryptocurrencies like XRP. WisdomTree’s XRP ETF filing has also garnered attention, with Coinbase named as the custodian for the fund. The potential impact of these ETFs extends beyond individual cryptocurrencies. Experts suggest that regulatory approval could significantly boost the entire crypto market, similar to the effects seen when Bitcoin ETFs gained approval. If institutional demand follows suit, these products could drive substantial market growth. The crypto industry is also optimistic about changes in U.S. regulatory policies. Reports suggest that Donald Trump, in his second term, may appoint a pro-crypto SEC Chair, potentially creating a friendlier environment for cryptocurrency regulations. This shift could lead to multiple ETF approvals in the near future, intensifying momentum in the altcoin market. While the SEC’s decisions remain pending, anticipation continues to grow. If these ETFs gain approval, they could trigger significant institutional investment inflows, boosting confidence and interest in the broader cryptocurrency market.

Most Read News



Cryptohopper
hardware wallets, hardware , wallets, Crypto Currency, Cryptocurrency hardware wallets, Crypto Apparal, crypto wallet, Cryptocurrency wallets

Market Cap
24h Vol
54.89%
Bitcoin Share
0
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.