Recent events in the cryptocurrency market indicate significant price pressures, yet a new phase is anticipated with the potential approval of exchange-traded funds (ETFs).
ETF Applications: Focus on Ripple and Solana
ETF expert Nate Geraci highlighted upcoming market changes linked to growing interest in regulated investment vehicles. Bloomberg analyst James Seyffart noted that the SEC is currently reviewing 96 cryptocurrency ETF applications. In particular, Solana stands out with 16 applications, while XRP follows closely with 15.
SEC Delays Decisions, but Applications Continue to Rise
Despite the slow pace of the SEC's decision-making process, the number of ETF applications remains high. For instance, 21Shares recently sought approval for the first SEI ETF. Meanwhile, the Grayscale application for a Cardano ETF is still awaiting a response from regulators, despite public appeals.
Impact of Institutional Investors on the Market
Analysts emphasize that ETF approvals could lead to a substantial influx of institutional capital into the market, which in turn would increase liquidity and accelerate cryptocurrency adoption. For example, BlackRock has attracted over $58 billion to its Bitcoin Trust ETF, illustrating the growing influence of this sector.
Signals of potential ETF approval and active interest from institutional investors could play a key role in shaping the future of the cryptocurrency market.
