The editors of BeInCrypto know which coins can be called the main contenders for the launch of spot ETFs. Experts help us understand the issue.
BeInCrypto Editorial collected the best exchanges for trading altcoins in a review and talks about their important features.
Betting on XRP and Chainlink
Alexander Ryabinin, financier and asset manager, believes that Ripple (XRP) and Chainlink (LINK) institutional investors are interested, which means that spot ETFs can be developed specifically for these coins.
XRP is already widely used in the banking sector, and LINK is integrated into institutional asset management. The demand for coins and their interest from investors, according to our interlocutor, make them the main contenders for the launch of the next spot ETFs.
XRP, SOL, DOT
Mike Lvov, director of communications and PR at EMCD, also believes that XRP has great potential to launch spot ETFs. In addition to XRP, our interlocutor emphasized Solana (SOL) and Polka dot (DOT). He noted that the cryptocurrencies he chose are distinguished by a strong community and effective technical solutions that provide their value.
Mike Lvov considers the least candidates to launch spot ETFs based on cryptocurrency memcoins, such as DOGE and SHIB. Our interlocutor explained the low chance of such coins by their high volatility.
SOL, but that’s not certain
Anton Toroptsev, head of marketing for Bitget in CIS, highlighted some important factors that the SEC considers when considering applications for cryptocurrency spot ETFs:
- Liquidity and market manipulation risks.
- Market infrastructure.
- Storage Solutions.
- Regulatory Compliance.
Based on the factors discussed, our interlocutor concluded that Solana would be the main opponent for the launch of a spot ETF. At the same time, our interlocutor noted that opening a large number of FTX tokens in 2025 will reduce the project’s chances of success.
Market capitalization leaders are in the gun
Lennix Lai, chief commercial officer of OKX, considers cryptocurrencies from the top 10 capitalization to be the main contenders for the launch of spot ETFs.
“I also believe that in the future we can see ETFs not only for specific cryptocurrencies, but for a portfolio of cryptocurrencies, for example, structured ETFs for DeFi projects based on Ethereum. This will open access to the decentralized financial market, which shows good dynamic development, for a wider range of investors,” concluded our interlocutor.
You don’t have to rely too much on new crypto ETFs
Maxim Kalmykov, CEO of Bitsgap, is skeptical about the possibility of new cryptocurrency ETFs appearing in the near future. This points to the long time it takes to approve applications bitcoin-etf and Ethereum ETF.
According to Maxim Kalmykov, institutional investors do not show much interest in other cryptocurrencies, except BTC and ETH, which means that market participants should not rely too much on new instruments.
Instead of conclusions
Despite complex regulatory procedures, the US cryptocurrency ETF market may see new instruments in 2024. XRP, LINK, SOL and DOT are the main candidates for the launch of spot exchange-traded funds. It is worth considering that the emergence of new spot ETFs will depend on many factors, including liquidity, infrastructure and compliance with cryptocurrency regulation.
Latest cryptocurrency news, analytics and predictions – all the most interesting to us Telegram channels. Subscribe so you don’t miss anything important.
According to Trust Project rules, this article reflects the author’s point of view and may not reflect the opinion of the BeInCrypto editors. BeInCrypto’s policy is to report all events impartially and adhere to the highest standards of journalism. BeInCrypto encourages readers to independently verify information and consult a professional before making any financial decisions based on this content. Please also note that our “Terms and conditions», «Privacy Policy“and”Disclaimers» updated