After Gary Gensler's departure as the regulator's president, a window of opportunity opened. Today, more than 90 proposals seek approval in the U.S. And each application tells a story about where the market might be headed.
The Opportunity: An Explosion of Investor Access with New ETFs
After a change at the SEC, companies have rushed to submit applications. By April, there were already 72 applications, a number that has continued to grow. This is not limited to Bitcoin and Ethereum; it includes a wide range of altcoins $BNB , Solana ($SOL ), $XRP among others.
The Risks and Challenges of this ETF Frenzy
However, greater access does not eliminate inherent risks.
Volatility: An ETF tracks the price of the underlying asset. If BTC or ETH fall, the ETF will too.
Concentration of proposals: The focus on few assets could create imbalances. Are we prepared for the possible volatility that a Solana ETF might bring?
Regulatory dependence: All this optimism depends on one entity: the SEC. Approvals are not guaranteed and may face delays.
A Practical Case: How 21Shares Bets on an Altcoin
To see it in action, let's look at the case of 21Shares. On August 28, they submitted an application for a SEI ETF, a relatively new altcoin. This is significant. Not only are bets being placed on the big names; fund managers are exploring niches, which could democratize access to emerging projects. It's as if, after opening the main floodgate, smaller channels began to be built to irrigate the entire ecosystem.
Are We on the Cusp of a New Market Cycle?
Experts paint an optimistic future. Nate Geraci anticipates a "wave of approvals." Julio Moreno from CryptoQuant notes that Bitcoin spot ETFs already rival in volume with giants like Binance. And as analysts from Bitfinex emphasize, the anticipated "altcoin season" may not take off until these funds are approved. This is no longer speculation; it is an unstoppable trend backed by concrete data.
