As cryptocurrency exchange-traded funds (ETFs) consolidate their position in the broader market, market participants are anticipating new launches.
Following the successful integration of #bitcoin and ethereum-based ETFs in 2024, community members are raising expectations for Cardano-based ETFs. Expectations are rising, which should strengthen the price of ADA.
a new move by the U. S. Securities and Exchange Commission reinforces this bullish outlook. The regulator has officially approved a Cardano-based exchange-traded fund launched by leading investment firm #Grayscale .
The SEC's approval of Grayscale's #ETF , which was filed ahead of the others, shows that the regulator is interested in altcoin-based ETFs.
Notably, Grayscale, a U. S. digital asset manager with $50 billion in assets under management, has been advocating for a digital asset-based ETF. This is particularly useful for traditional investors who want to expand their portfolios without directly entering the volatile cryptocurrency sector. For years, key figures in the traditional financial world have used ETFs to increase their holdings in cryptocurrencies After the successful launch of
Bitcoin Spot ETF in January 2024, investment firms have continued to expand their reach Grayscale launched the #Cardano ETF. Along with several ETFs for altcoins such as Dogecoin and Polkadot.
Like Bitcoin (BTC) and Ethereum (ETH), ADA Cardano could benefit greatly from long-term consolidation of Cardano-based ETFs.
It's worth noting that the price of BTC jumped significantly after the launch of several new bitcoin-based ETFs in the first quarter of last year.
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