According to a report by Deep Tide TechFlow, on September 5, Cryptoslate reported that Bloomberg ETF analyst James Seyffart stated that the current market is experiencing a surge in altcoin prices through digital asset financial companies rather than traditional tokens.
Seyffart pointed out that institutional investors are more inclined to choose multi-cryptocurrency portfolio products rather than single altcoin ETFs. Currently, Grayscale and Bitwise's cryptocurrency basket products are awaiting approval from the U.S. Securities and Exchange Commission.
Among them, Bitwise's product contains 10 types of crypto assets, while Grayscale's product contains 5 types of cryptocurrencies allocated by market capitalization. He emphasized that institutional funds prefer to gain exposure to cryptocurrencies through regulated products rather than directly holding tokens, and this structural change may permanently alter the upward trend of altcoins.