🔥IMPORTANT🔥
🚀This could be another catalyst for the #AltcoinSeason
🎯This could even happen in the summer of the northern hemisphere
What exactly do I mean⁉️
🗣"Get ready for a possible summer of altcoin ETFs," says a #Bloomberg analyst who specializes in ETFs.
▪️He states this because the chances of several altcoin ETFs being approved this year have recently skyrocketed.
▪️The spot ETFs for #Litecoin and #Solana have a 90% chance of approval for this year
▪️The spot ETFs for $XRP: 85%
▪️The spot ETFs for #Dogecoin and $HBAR: 80%
▪️The spot ETFs for #Cardano, #Polkadot, and #Avalanche: 75%
▪️The spot ETFs for #Sui remain at 60%
▪️The first ETFs could be arriving in October
👉This is huge for the following reasons:
🔸It allows for the entry of institutional capital
🔸The #Bitcoin ETFs are proof of this
🔸The Bitcoin ETF, $IBIT, surpassed 70 billion in assets under management for the first time
🔸It only took 341 trading days to reach this number, a historical record
🔸The previous record of 1,691 days, set by the gold ETF $GLD, was five times slower than that of $BTC
🔸Even only the ETFs are buying 200,000 $BTC per quarter
📍While it is most likely that these new ETFs will not register the same money inflows as the $BTC ETFs, their approval would undoubtedly be a very positive thing