2024-12-18 05:31:24 by coinpedia

The year 2024 is ending with a bang as Bitcoin smashes through the $107,000 mark, setting a new all-time high. Most altcoins are also thriving, trading in the green and fueling optimism across the market. From looming interest rate cuts to major milestones like MicroStrategy’s inclusion in the Nasdaq 100, the crypto market is buzzing with excitement.Let’s dive deeper into the key events shaping this remarkable rally.Crypto ETFs to Bring the Next Wave?Bloomberg analyst Eric Balchunas recently shared on X, tagging James Seyffart, that Bitcoin-Ethereum combo ETFs are likely to launch first, followed by Hedera (HBAR). However, Solana (SOL) and XRP ETFs could face delays due to their ongoing legal challenges with the SEC.We expect a wave of cryptocurrency ETFs next year, albeit not all at once. First out is likely the btc + eth combo ETFs, then prob Litecoin (bc its fork of btc = commodity), then HBAR (bc not labeled security) and then XRP/Solana (which have been labeled securities in pending… pic.twitter.com/29vMdciZxE— Eric Balchunas (@EricBalchunas) December 17, 2024Optimism for new crypto ETFs has surged following President-elect Donald Trump’s nomination of Paul Atkins, a pro-crypto former SEC commissioner, and dethrone of SEC Chair, Gary Gensler is clearing the ETF path in the US. It is also evident that Atkins’ lighter regulatory approach could streamline the way for a broader range of crypto ETFs.Altcoin ETFs Gain MomentumWhile applications for Solana and XRP ETFs are already in progress, analysts believe their approval won’t happen until the new SEC leadership takes charge in January. Bloomberg predicts these ETFs could be approved by late 2025.Nate Geraci, President of ETF Store, remains optimistic, stating,“It’s highly likely Solana ETFs will be approved by the end of next year at the latest.”Bitcoin adoption and the rise of crypto ETFs are driving prices to new heights—Read Bitcoin price prediction to see where it’s headed next!Altcoins like Litecoin (LTC) and Hedera (HBAR) might see their ETFs approved sooner, thanks to their regulatory clarity. James Seyffart pointed out that neither LTC nor HBAR is classified as a security by the SEC, making their approval process simpler. However, he questioned whether there’s enough investor demand to justify launching these products.A Diversified Portfolio is a Winner Looking ahead, the number of altcoins ETF applications is expected to triple in the coming months, reflecting growing interest in diversifying crypto investment options. Issuers appear confident in the regulatory shift, with Two Prime Digital Assets CEO Alexander Blume remarking, “They wouldn’t waste the time and expense if they didn’t believe approval was likely.”The market is opening doors for alternative investment options since Bitcoin is getting high the market needs fresh inflow. ETFs have helped the market get into shape this year with new ETFs in Q1 it will be an exciting opportunity for traders to divert their portfolios.While the analysts see trouble in approving XRP/Solana ETFs, strong community-driven XRP and Solana are rooting for an early approval as prices are showing signs of breakout in January.Never Miss a Beat in the Crypto World!Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more. Daily Get real-time crypto news, market insights, and blockchain updates. Weekly Stay updated with major trends, funding news, and price analysis. Monthly Receive a detailed report with market analysis and expert predictions.