Cryptocurrencies have entered the mainstream finance world
After years of exclusion. The approval of Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) in the United States last year opened the doors for cryptocurrency assets to enter major financial institutions. The market has seen an increase in institutional funds since the approval of 11 Bitcoin spot exchange-traded funds last year.
BlackRock's Bitcoin fund rises as investors from Abu Dhabi and Hong Kong pump in over a billion dollars
Cryptocurrencies retreat amid volatility
Silhouette of an investor with cryptocurrency bitcoins and a volatile price chart
Bitcoin rose to a new record level of $111,814 on May 11. Since then, the original cryptocurrency has dropped to a price level of $109,000. The recent rise in Bitcoin is likely due to an increase in institutional investments. Bitcoin ETFs have seen billions of dollars in inflows over the past few weeks.
The pace of the cryptocurrency market's rise has slowed this week. We may see another rise when individual investors start buying.
#أفضل_ثلاث_عملات_مشفرة is expected to rise in the last week of May
The cryptocurrency market may also see the launch of several new exchange-traded funds this year. The SEC is now headed by a cryptocurrency advocate. There is a high likelihood that the commission will approve more cryptocurrency-based exchange-traded funds this year.
Top 3 cryptocurrencies that could reach new peaks after ETF approvals
1. Ripple ($XRP )
Candlestick chart for XRP cryptocurrency
Ripple's XRP has multiple ETF requests with the Securities and Exchange Commission. The fintech company's lawsuit with the financial regulatory body also ended earlier this year. XRP could see a significant price rise if the commission approves an exchange-traded fund. The cryptocurrency surpassed the $3 barrier earlier this year for the first time in seven years. XRP could rise to unprecedented levels if an exchange-traded fund is approved.
2. Solana $SOL
Solana (SOL) is another cryptocurrency that could receive an exchange-traded fund in 2025. The asset reached its all-time high earlier this year in January. SOL has performed remarkably over the past few years. Approval for an exchange-traded fund could lead the asset to another peak.
3. Dogecoin $DOGE
Dogecoin cryptocurrency
There is also demand for an exchange-traded fund for DOGE at the Securities and Exchange Commission. DOGE would become the first meme coin to receive an exchange-traded fund if the commission approves the request. The cryptocurrency could reach the $1 mark if the ETF comes to fruition.