Franklin

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-investors-prepare-for-altcoin-etf-applications/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Investors Prepare for Altcoin ETF Applications</a> 
Crypto <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investors</a> should prepare for ETF applications for significant altcoins with the ETH ETF listing. With the SEC’s recent approval, it must also approve ETFs for altcoins structurally similar to Ethereum. Gensler is expected to resign by February, and the US government is taking steps toward a mandatory softening on crypto.
<h2 style="text-align: justify" id="altcoin-etf-applications">Altcoin ETF Applications</h2>
Last year, there were rumors about an ETF application for <a href="https://en.coin-turk.com/geminis-cryptic-moves-spark-xrp-community-speculation/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a> Coin. However, these were denied. More recently, VanEck and 21Shares officially applied for a SOL Coin ETF. Both companies already have BTC and ETH ETFs trading on the stock exchange. Meanwhile, US-based asset management company Franklin, which manages over $1.6 trillion in assets, signaled more to come in its latest announcement.
<blockquote>
 “Bitcoin and Ethereum are not the only exciting developments we believe will advance the crypto space. Solana has shown significant adoption and continues to mature, overcoming technological growing pains and highlighting the potential of high-throughput, monolithic architectures.”
</blockquote>
<img fetchpriority="high" decoding="async" class="wp-image-373462 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/franklink-kripto.png" alt="" width="437" height="373">
Franklin Templeton’s statement about potential Solana ETFs came right after the Franklin Ethereum ETF (EZET) started trading on the CBOE exchange yesterday. The asset management company launched this ETF with zero transaction fees until January 31, 2025, indicating their long-term belief in this area.
<h2 style="text-align: justify" id="solana-and-other-etfs">Solana and Other ETFs</h2>
Grayscale trusts can give us an idea about new ETFs. For example, 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 simultaneous investment in 5 popular cryptocurrencies. FIL Coin, NEAR, and others took the lion’s share in the fund. The ETF process for SOL Coin continues, and applications are expected to start after the lawsuit process for XRP Coin concludes.
If SOL Coin also finds support from other major issuers after Ether, it will pave the way for ETF applications for different altcoins. Experts say the SEC will make its final decision on SOL Coin ETF applications by March 2025.
Lastly, Bloomberg ETF analyst Eric Balchunas recently wrote:
<blockquote>
 “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.”
</blockquote>
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-investors-prepare-for-altcoin-etf-applications/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Investors Prepare for Altcoin ETF Applications</a></h5>

Crypto Investors Prepare for Altcoin ETF Applications

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