Recent reports have raised questions about a potential turnaround in the cryptocurrency market influenced by the expected approval of several alternative coin ETFs.
ETF Approval Forecasts
According to Weiss Crypto Rating, expectations for approving several ETFs for alternative coins have significantly increased amidst market optimism. However, analysts caution that the approval timelines may be pushed to the final quarter of the year.
Demand for SOL and XRP ETFs
Demand for SOL ETFs has notably surged, with Coinshares filing for a SOL ETF that will track the token's price on the Nasdaq stock market. Currently, SOL is trading at $148.
Market Situation in Cryptocurrencies
Amid these developments, XRP is also gaining attention as Purpose Investment Inc.'s XRP ETF began trading on the Toronto Stock Exchange (TSX) on June 18. The current price of XRP is $2.17.
Despite potential delays in ETF approvals, the coming months may significantly reshape the cryptocurrency market and attract new institutional players.
