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Bitcoin Peaks: Crypto Market's ETF-Driven Growth

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by A1

2 hours ago


The end of 2024 marked new records for Bitcoin and a bullish trend for most altcoins, driven by market events and expectations.

Bitcoin and Altcoins Rally

Bitcoin reached a new ATH of $107K, prompted by factors such as expected interest rate cuts in December, traditionally benefiting Bitcoin. Another factor was MicroStrategy's inclusion in the Nasdaq 100 index.

Cryptocurrency ETF Plans

Bloomberg experts indicate the imminent launch of Bitcoin-Ethereum combo ETFs, with Hedera (HBAR) to follow. However, Solana (SOL) and XRP funds might face delays due to ongoing SEC legal battles.

ETF Store President Nate Geraci noted, 'Solana ETFs are highly likely to be approved by the end of next year at the latest.'Nate Geraci

Focus on Solana and XRP

While proposals for Solana and XRP ETFs have been submitted, approval is unlikely until late 2025. Surge in crypto ETF optimism follows the nomination of Paul Atkins, known for his crypto-friendly stance, as the new SEC chair.

Cryptocurrency prices at the end of 2024 were accompanied by discussions on new investment vehicles such as crypto ETFs. Changes in SEC leadership may expedite their market introduction, aiding investment portfolio diversification.

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