With Donald Trump taking office, the cryptocurrency market in the USA is undergoing significant changes. This is linked to new expectations for the approval of altcoin ETFs.
Change in Cryptocurrency Regulation
Under the new leadership of regulatory authorities known for their anti-crypto stances, noticeable changes are occurring. The approval of ETFs for Bitcoin and Ethereum under the new administration instills confidence in the community.
Growing Number of Altcoin ETF Applications
The total number of ongoing ETF applications has reached 91 following the application for SEI Coin by 21Shares. This indicates a surge in new interesting offerings within the altcoin sector. The spectrum of applications primarily concerns altcoins such as LINK, SOL, and DOGE, with expected resolutions in the coming months.
Potential Implications for Investors
Once approved, investors will be able to trade altcoins on traditional stock markets, potentially leading to increased liquidity and significant market capitalization growth. It is anticipated that pension funds could allocate 1% or more to selected altcoins.
The state of the cryptocurrency market in the USA continues to evolve with the adoption of new regulatory decisions and ETF approvals. This opens new horizons for investors and shapes the future of altcoins in the economy.
