Specialists Anticipate Approval of Altcoin ETFs in Current Year: Potential Upside for XRP, ADA, and SOL?
The Grayscale Digital Large Cap Fund (GDLC), a diversified trust holding major altcoins including XRP, Solana, and Cardano, is expected to receive approval from the U.S. Securities and Exchange Commission (SEC) to convert into a listed ETF, according to Nate Geraci, president of the ETF Store. Geraci believes that approval of GDLC will pave the way for the first U.S. spot ETFs tracking these altcoins.
This anticipated approval comes amidst a series of pro-crypto developments in the U.S. and growing interest from asset managers. Grayscale, along with firms like WisdomTree, 21Shares, and VanEck, have filed applications for standalone altcoin ETFs. Institutional demand for such products is on the rise, evidenced by seven straight weeks of net inflows into spot BTC ETFs.