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crypto market gains momentum as altcoins surge ahead of potential etf approvals
XRP, HBAR, and SOL have surged in value following Trump's election victory and growing optimism around crypto ETFs, with XRP climbing 54.65% to $2.31 and HBAR soaring 114.60% to $0.316. Analysts predict that regulatory clarity in 2024 could enhance adoption, particularly for Hedera, which is classified as a non-security by the SEC. As the market anticipates ETF approvals, these altcoins are positioned for potential gains, while Solana's network activity suggests it may also see upward movement.
SEC seeks industry input on Bitwise Bitcoin and Ethereum ETF listing
The SEC is seeking industry feedback on NYSE Arca's request to list the Bitwise Bitcoin and Ethereum ETF, which aims to provide balanced exposure to the two largest cryptocurrencies. This move comes amid increasing competition in cryptocurrency index funds, with other proposals from Grayscale and asset managers like Hashdex and Franklin Templeton. As regulatory dynamics shift with the upcoming leadership change, the approval of such ETFs could enhance accessibility for both retail and institutional investors in the crypto market.
investor enthusiasm drives 745 million into bitcoin and ethereum etfs
On December 10, 2024, spot bitcoin and ethereum ETFs attracted a remarkable $745.3 million in inflows, highlighting strong investor interest. Bitcoin ETFs led with $439.56 million, while ethereum ETFs garnered $305.74 million, bringing cumulative totals to $34.35 billion and $1.87 billion, respectively. Despite some losses in specific funds, the overall trend indicates robust participation in these digital asset markets.
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