Crypto may soon witness a significant expansion in exchange-traded fund (ETF) offerings.
Industry expert Nate Geraci has forecasted a potential uptick in spot crypto ETF filings this week involving major digital assets such as Ripple (XRP), Solana (SOL), and Cardano (ADA).
A Strategic Moment for Issuers
In a November 11 post on X, the ETF Store president hinted that multiple issuers may have been preparing for the outcome of the just-concluded U.S. election, which saw pro-crypto presidential candidate Donald Trump return to the White House.
With regulatory pathways influenced by political shifts, Geraci suggested that providers may see this as an optimal moment to act. “No downside to getting aggressive now,” he stated.
The prediction follows impressive performances by spot Bitcoin ETFs, which now collectively hold more than one million BTC or about 4.9% of the total end supply. It reflects the increasing appetite for diverse crypto-backed financial products in the market.
Among the coins whose ETF filings Geraci said he expects to see during the week, Cardano and Solana are coming off the back of major price rallies that saw their values rise by 83% and 32%, respectively, over seven days.
The Chicago Board Options Exchange (CBOE) recently filed for two new SOL-focused funds to strengthen its portfolio: 21Shares Core Solana ETF and VanEck’s Solana Trust.
Analysts have pointed out that the deadline for those ETFs will be mid-March 2025. However, Eric Balchunas, senior Bloomberg ETF analyst, had previously highlighted that the November presidential election would be critical for their trajectory. “If Biden wins, these [ETFs are] likely DOA. If Trump wins, anything [is] possible,” he said.
Broader Implications for the Crypto Market
With Trump’s victory assured and more than 260 pro-crypto lawmakers set to occupy Congress, the developing political climate is expected to impact the U.S. Securities and Exchange Commission’s (SEC) regulatory approach. Industry watchers anticipate that current SEC Chair Gary Gensler will vacate his position to pave the way for a friendlier head to run the agency.
Recently, Republican Commissioner Mark Uyeda called for an end to the financial watchdog’s war against crypto, a stance issuers may seek to use to push through their ETF proposals.
Were Geraci’s prediction to prove accurate, the potential new XRP, SOL, and ADA ETF filings could further invigorate the market, which is already up 23% in the last seven days. It could also draw additional institutional interest and provide further legitimacy to more cryptocurrencies outside of BTC and ETH.
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