Nate Geraci, co-founder of The ETF Institute, has predicted that ETF issuers are going to file several cryptocurrency ETF filings this week in the US.
These ETF products are expected to be based on such altcoins as XRP, Solana (SOL), and Cardano (ADA).
There is no "downside" to getting aggressive for ETF issuers, according to Geraci.
As reported by U.Today, U.S. Securities and Exchane Commission Chair Gary Gensler is widely expected to resign in the near future. Dan Gallagher, Robinhood's top lawyer, is among the leading contenders to spearhead the SEC after Gensler's departure.
Under Gernler's watch, the SEC approved several Bitcoin ETF products. Despite constantly being vilified by the cryptocurrency community, Gensler was the deciding vote. Commissioners Jaime Lizárraga and Caroline Crenshaw wanted to block the approval of Bitcoin ETFs, but Gensler ended up siding with commissioners Mark Uyeda and Hester Peirce despite the fact that they are Republicans.
In May, Gensler also unexpectedly greenlit several spot Ethereum ETFs that started trading in July.
As reported by U.Today, there are already several ETF filings for more arcane atcoins. For instance, VanEck made a trailblazing move by filing for a Solana ETF in July. Several issuers have also filed to launch a spot an XRP ETF.
Dan Burgin
U.Today Editorial Team
Vladislav Sopov