Cardano (ADA) Might Join Spot ETF Race
2024-11-21

Analyst Nate Geraci has predicted that ETF issuers will soon file for spot ETF products that will track the performance of Cardano ADAUSD and Avalanche AVAXUSD. 
Various firms might be more inclined to jump into the altcoin ETF race due to a significantly friendlier regulatory environment. 
As reported by U.Today, there are already several altcoin ETF proposals for XRP and Solana SOLUSD. 
In May, the SEC greenlit several Ethereum ETHUSD ETFs. However, these products experienced relatively low demand compared to the spot Bitcoin ETFs that were launched earlier this year. 
As reported by U.Today, BlackRock has already ruled out launching more altcoin ETFs. 
In the meantime, the total net asset value of Bitcoin ETFs has now topped $100 billion in just ten months. These products attracted $4.1 billion worth of inflows since the start of the election. 
Bitcoin ETFs recently attracted renewed attention due to the launch of spot ETF options. 