As a seasoned researcher with extensive experience in the crypto market, I have closely followed the developments in the world of exchange-traded funds (ETFs) and their impact on the crypto industry. Nate Geraci’s recent prediction that an issuer will file for a combined spot Bitcoin, Ether, and Solana ETF this year adds further credence to the bullish sentiment currently prevailing in the market.
Companies planning to release exchange-traded funds (ETFs) are expected to apply for a combined Bitcoin, Ethereum, and Solana ETF this year, according to The ETF Store president Nate Geraci’s announcement on Monday. This prediction is largely based on recent filings by VanEck and 21Shares for Solana spot ETFs. Ethereum spot ETFs have been given the green light to begin trading as early as this week.
Nate Geraci Predicts Combined Spot Bitcoin, Ether, Solana ETF
Anticipated launch of Ethereum ETFs on July 23 is adding to the crypto market’s upward trend as optimistic outlook persists. Nate Geraci, ETF Store’s president, has added to the bullish sentiment, particularly for the Solana ecosystem.
Nate Geraci anticipates that an application for a combined Bitcoin, Ethereum, and Solana spot ETF will be submitted to the SEC in the coming months. His optimism is fueled by the recent filings of VanEck and 21Shares for a Solana spot ETF with the regulatory body.
“Geraci stated that we’re moving swiftly towards index-based and actively managed Bitcoin, Ethereum, Solana ETFs. In his opinion, this signifies another major transformation in the crypto ETF market. These combined ETFs will provide diversified investments for investors.”
Significantly, CME and CF Benchmarks unveiled the introduction of fresh reference rates and real-time indices for Ripple‘s XRP and Internet Computer (ICP), which will become active on July 29. Brad Garlinghouse, CEO of Ripple, hailed this move as a favorable sign for potential XRP Exchange-Traded Funds (ETFs).
Crypto Rises As President Biden Drop Out Of Presidential Race
After President Joe Biden conceded the presidential election to Republican nominee Donald Trump, the Bitcoin and cryptocurrency markets experienced a significant surge. Nevertheless, crypto analysts like BitMEX CEO Arthur Hayes predicted that if Kamala Harris were to replace Biden as president, she would pose formidable competition for Trump.
The price of Bitcoin broke through the $68,000 barrier, while Ethereum soared past $3550, just before the debut of an Ethereum-backed spot ETF. The overall crypto market experienced a significant surge in trading volume over the past day, with a gain of over 43%.
Over the past 24 hours, the price of SOL has surged by more than 4%, reaching approximately $180 at present. The lowest and highest prices within this timeframe were $171.12 and $184.87, respectively. Moreover, there has been a significant uptick in trading activity, with volume increasing by around 77%. This surge in interest from traders is evident in the heightened transactional activity.
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2024-07-22 10:01