Companies going to launch cryptocurrency ETFs offer binding not only to bitcoin and ether. Exchange funds can be provided with other altcoins, non -replaced tokens (NFT) and even memcoirs.
The regulator will have to consider the application for the launch of the ETF with the credit shoulder for the token of the first Lady of the United States Melania Trump – Melania. This exchange fund is going to launch the consulting company Tuttle Capital, registered in the Kaiman Islands. In January, Tuttle Capital has applied for the launch of ETF, tied to ten cryptocurrencies.
Balchunas noted that many companies hope to take advantage of the favorable regulatory for cryptocurrencies in the country and the more friendly attitude of the SEC to cryptoactures. The analyst suggested that one of the main tasks of the department this year is to consider applications for the launch of cryptocurrency ETFs.
“Now the approvals of the regulator are waiting for 72 cryptocurrency exchange funds. They are associated with XRP, Litecoin and Solana. There are even PENGUins, DOGE and 2X Melania. It will be a wild year, ”wrote Balchunas on the social network Kh.
Despite the variety of presented cryptocurrencies, the number of individual applications for the launch of the ETF lead altcoins XRP and SOL. By April 15, 10 applications have already been submitted for launching exchange funds tied to XRP, and five on Solana. LTC and DOGE cryptocurrencies are also in demand among institutional investors due to their decentralization. As for DOGE, this memicin attracted public attention due to the fact that it was promoted by the founder of Tesla and SpaceX Ilon Musk.
Earlier this month, Balchunas noted that in Canada, trading shares of spotal ETF shares tied to the SOLANA cryptocurrency – ONTARIO securities (OSC), approved the launch of these investment products. He later suggested that the chances of registering a spotal ETF on SOL in the United States are low.
Source: Bits
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