Ethereum

Franklin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/sec-approves-altcoin-etf-applications" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC Approves Altcoin ETF Applications</a><br></p>
<p style="text-align: justify">Crypto <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> should brace for a wave of ETF applications targeting major altcoins, following the listing of the Ethereum ETF. With the SEC’s recent green light, structurally similar altcoins to Ethereum are expected to follow suit. Additionally, SEC Chairman Gary Gensler is anticipated to step down by February 2024, and the US government is moving towards a mandatory easing in cryptocurrency regulations.</p>
<h2 id="what-s-next-for-altcoin-etfs">What’s Next for Altcoin ETFs?</h2>
<p style="text-align: justify">Last year, there were speculations about an ETF application for <a href="https://en.bitcoinhaber.net/sec-decisions-impact-xrp-price" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a> Coin, which were eventually dismissed. Recently, VanEck and 21Shares have formally applied for a SOL Coin ETF. Both firms already have ETFs for Bitcoin and Ethereum trading on the stock exchange. Meanwhile, Franklin Templeton, a US-based asset management company overseeing over $1.6 trillion in assets, hinted at more developments in its latest announcement.</p>
<p style="text-align: justify">“Bitcoin and Ethereum are not the only promising advancements we foresee for the crypto space. Solana has demonstrated significant adoption, continuing to mature and showcasing the potential of high-throughput, monolithic architectures,” Franklin Templeton stated.</p>
<h2 id="will-solana-lead-the-way-for-other-altcoins">Will Solana Lead the Way for Other Altcoins?</h2>
<p style="text-align: justify">Franklin Templeton’s comments on potential Solana ETFs came shortly after the Franklin Ethereum ETF (EZET) began trading on the CBOE exchange, with zero transaction fees until January 31, 2025, reflecting their long-term confidence in this domain. This move suggests that if SOL Coin garners support from other major issuers like Ethereum, ETF applications for various altcoins could follow.</p>
<p style="text-align: justify">Grayscale trusts provide insights into potential new ETFs. For instance, the recent <a href="https://newslinker.co/can-artificial-intelligence-achieve-consciousness/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">AI</a> Fund allows investment in five popular cryptocurrencies, with FIL Coin and NEAR among the top picks. The ETF process for SOL Coin continues, and applications are expected to commence post the resolution of the XRP Coin lawsuit. Experts predict that the SEC will make its final decision on SOL Coin ETF applications by March 2025.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">– The SEC’s approval of Ethereum ETFs sets a precedent for other altcoins.<br> – VanEck and 21Shares have initiated ETF applications for SOL Coin.<br> – Franklin Templeton is optimistic about Solana and has introduced the Franklin Ethereum ETF with no transaction fees until January 2025.<br> – ETF applications for altcoins could increase significantly post the XRP Coin lawsuit resolution.<br> – SEC’s final verdict on SOL Coin ETF is anticipated by March 2025.</p>
<h2 id="conclusion">Conclusion</h2>
<p style="text-align: justify">Bloomberg ETF analyst Eric Balchunas recently noted, “Remember there are flows after the launch, and then add ETH products; I’m sure Solana and others will follow. It will probably never end because the dam (with the ETH approval) has now broken.” The evolving landscape suggests a burgeoning interest and acceptance of altcoins, setting the stage for diverse investment opportunities in the crypto market.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/sec-approves-altcoin-etf-applications" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC Approves Altcoin ETF Applications</a></h5>

SEC Approves Altcoin ETF Applications

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