Hotter, Cardano And Avalanche ETFs Predict Coming Soon

Cardano crypto assets. (TheGlobCoverage)

JAKARTA - After the Bitcoin Exchange Trade Funds (ETF) was a huge success, attention has now begun to shift to altcoins. A number of altcoins are predicted to follow in the footsteps of Bitcoin so that they can be available in the ETF. Analysts Nate Geraci predict that a number of investment companies will soon submit spot-based ETF proposals that track the performance of altcoins such as Cardano (ADA) and Avalanche (AVAX).

In recent months, the main focus of the ETF market has been on Bitcoin. However, various reports show that a number of companies have submitted other altcoin-based ETFs, such as XRP and Solana (SOL). On the other hand, although in May the United States Securities and Exchange Commission (SEC) approved several Ethereum-based ETFs (ETH), demand for these products is relatively low compared to more popular Bitcoin ETFs.

What Makes Altcoin ETF Interesting?

The success of Bitcoin ETF is the starting point for optimism for altcoins. According to the latest data, the total net asset value of Bitcoin ETF has exceeded 100 billion US dollars (approximately Rp1.580 trillion) in just ten months since the launch of its first product. In addition, Bitcoin ETF recorded an inflow of US$4.1 billion (approximately Rp64.8 trillion) since the beginning of this year.

Even so, financial giants like BlackRock, who successfully launched Bitcoin ETF, have expressed no interest in expanding their altcoin portfolio. However, this has not stopped other companies from leveraging the momentum of altcoin ETFs, especially with growing interest in digital assets such as Cardano and Avalanche.