Cardano and Avalanche ETFs on the Horizon? Analyst Predicts Spot Filings Amid Market Surge

• Analyst and President of ETF Store Nate Geraci has predicted the imminent filing of Spot ETFs for Cardano and Avalanche driven by growing interest in altcoins and favorable regulatory grounds.
• Bitcoin ETFs have amassed $100 billion in net asset value in ten months.

In addition to crypto index fund uplistings from Grayscale & Bitwise, there are currently spot ETF filings for the following…

-SOL
-XRP
-HBAR

Guessing at least one issuer takes a flier on ADA or AVAX ETF as well.

— Nate Geraci (@NateGeraci) November 21, 2024

ETF issuers have increased their interests in expanding their crypto products beyond Bitcoin and Ethereum. Hard on the heels of the SEC approval for Ethereum ETFs, other ETF issuers found the courage to table their applications for altcoins such as Solana, XRP and HBAR.

Backtracking, The Securities and Exchange Commission (SEC) approved the first 11 spot Bitcoin exchange-traded funds (ETFs) in the United States on January 10, 2024. Fast forward to May, the regulatory body approved the first spot Ethereum exchange-traded funds.

The Ethereum ETF approval was a stepping stone as it set the stage for other altcoins like, in this case, Cardano and Avalanche to potentially join the ETF arena.

Despite the growing interest, not all players are eager to jump into the altcoin ETF race. BlackRock, a prominent asset manager and big player in the Bitcoin ETF space, has reportedly ruled out launching additional altcoin ETFs. This cautious approach could stem from concerns over liquidity, regulatory challenges, or market maturity of altcoins compared to Bitcoin.

Nonetheless, the market’s appetite for Bitcoin ETFs remains strong. In just ten months, Bitcoin ETFs have amassed a staggering $100 billion in total net asset value, with $4.1 billion in inflows since the start of the U.S. election period. The success of Bitcoin spot ETFs has reignited interest in crypto-focused investment products, potentially paving the way for altcoin ETFs to flourish.

Cardano and Avalanche Surge

Its counterpart, AVAX is exchanging wallets with $34.18 marking a 1.95% and 24.44% surge in the past week and month respectively. Additionally, the digital asset’s market cap has undergone a slight decrease of 1.84% stopping at $13.98B.