Cardano (ADA) Might Join Spot ETF Race

A top analyst has predicted Cardano (ADA) and Avalanche (AVAX) ETF filings

Analyst Nate Geraci has predicted that ETF issuers will soon file for spot ETF products that will track the performance of Cardano (ADA) and Avalanche (AVAX).

Various firms might be more inclined to jump into the altcoin ETF race due to a significantly friendlier regulatory environment.

As reported by U.Today, there are already several altcoin ETF proposals for XRP and Solana (SOL).

In May, the SEC greenlit several Ethereum (ETH) ETFs. However, these products experienced relatively low demand compared to the spot Bitcoin ETFs that were launched earlier this year.

As reported by U.Today, BlackRock has already ruled out launching more altcoin ETFs.

In the meantime, the total net asset value of Bitcoin ETFs has now topped $100 billion in just ten months. These products attracted $4.1 billion worth of inflows since the start of the election.

Bitcoin ETFs recently attracted renewed attention due to the launch of spot ETF options.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].

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Cardano (ADA) Might Join Spot ETF Race

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