As more and more experts are certain that spot ETFs on major altcoins will be approved in the U.S., cryptocurrency educator, investor and speaker Dan Gambardello says we are about to enter a brand-new territory. New developments unlock previously unseen opportunties for large institutional investors.
XRP ETF, ADA ETF: What do they have in common with 2000s tech stocks?
XRP and Cardano (ADA), two large-cap altcoins, are in line to have their spot ETFs approved by U.S. regulators. This, in turn, means the segment and global economy as a whole are entering "brand-new territory," cryptocurrency influencer Dan Gambardello shared with his 285,000 X followers.
Once these exchange-traded products are greenlit, large investors will be cautiously experimenting with them. Gambardello compares this process with the adoption of tech stocks in the 2000s.
The majority of large investors started being extremely cautious about the new asset class, but step by step they started allocating funds to shares of companies with solid fundamentals.
As covered by U.Today previously, analysts are raising the odds for the approval of an XRP ETF in 2025. Some Bloomberg calculations signal a 65% probability of such an announcement.
Valeria BlokhinaXRP, Litecoin (LTC), Solana (SOL), Dogecoin (DOGE) and Cardano (ADA) are typically considered the most obvious assets to receive spot ETFs in the U.S.
Bitcoin Spot ETFs amassed $115 billion in 13 months
The first ETFs on spot cryptocurrencies were approved by the U.S. SEC on Jan. 11, 2024. As of press time, 21 products are available for American investors.
In total, investors allocated over $115 billion to these products. About 50% of them are amassed by BlackRock's
iShares Bitcoin Trust while the products of Fidelity, Grayscale and ARK follow.
By contrast, Ethereum ETFs launched less successfully. In its first seven months, this vertical only attracted $10.19 billion in equivalent. This disprepancy is always spotlighted by critics of altcoin spot ETFs.
Vladislav Sopov
Dan Burgin