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Sujit Kumar
Oct 19, 2024
by Sujit Kumar

Bitcoin and Ethereum ETFs Lead the Way in 2024

bitcoin and ethereum etf

Table of contents

  1. XRP and Litecoin ETFs Face Delays
  2. What’s Next for Crypto ETFs?
The year 2024 marked a pivotal moment for the cryptocurrency market with the approval of Bitcoin and Ethereum exchange-traded funds (ETFs). Eleven Bitcoin spot ETFs were approved in January, following years of anticipation. Soon after, nine Ethereum spot ETFs also hit the market. The launch of these products signaled a significant step towards mainstream adoption, providing investors easier access to cryptocurrency. The approval of options trading for Bitcoin spot ETFs further strengthened the impact of these developments.

However, not all cryptocurrencies are receiving the same regulatory attention.

Uncertain Future for Solana and XRP ETFs

While Bitcoin and Ethereum ETFs are thriving, other cryptos like Solana and XRP remain in regulatory limbo. VanEck and 21Shares submitted applications for Solana spot ETFs in mid-2024, but the SEC has yet to move forward. Regulators even removed related forms from the Cboe website, indicating hesitation. Nate Geraci, president of The ETF Store, suggests Solana ETFs are unlikely to be approved under the current administration due to concerns about classifying most cryptocurrencies as securities.

XRP and Litecoin ETFs Face Delays

The uncertainty extends to XRP and Litecoin ETFs. Bitwise submitted a filing for an XRP ETF on October 2, 2024, but the SEC has yet to approve it. Similarly, Canary Capital filed for a Litecoin ETF around the same time, but both applications remain stalled. If approved, these ETFs could increase liquidity and attract a new wave of investors, potentially driving broader market participation.

What’s Next for Crypto ETFs?

The future of ETFs for Solana, XRP, and Litecoin remains uncertain. Should the SEC approve these products, it could propel the crypto market to new heights. For now, Bitcoin and Ethereum are leading the charge, pushing cryptocurrency further into the mainstream.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Bitcoin and Ethereum ETFs Lead the Way in 2024
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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