Speaking at Milk Road Show, the Seyfart suggested that Chainlink (Link), Stellar (XLM), Avalanche (AVAX), Bitcoin Cash (BCH), Litecoin (LTC) and Polkadot (DOT) ETF have every chance of entering the market. This will happen when the US Securities and Exchange Commission (SEC) will complete the development of new rules for launching cryptocurrency ETFs.
According to the Seyffart, the more supportive attitude of the department towards cryptocurrencies opens up the way for other altcoins, to which exchange funds can be attached, and not just bitcoin and ether, as it is now. The main requirement for entering the stock market is the presence of an adjustable futures contract for an asset, which is traded on the exchange, approved by the US commodity futures (CFTC) at least six months, Seyffart explained.
The main investors in ETF on Bitcoin and Ether were investment consultants and hedge funds. However, retail investors also affect the market, the analyst said. Since the launch of exchange funds on the air, these investment tools have attracted more than $ 12.73 billion, and starting in July the demand for them has grown significantly.
SEFFART is sure that ETF, tied to several altcoins at once, can also succeed. Grayscale and Bitwise have already submitted applications for “multicactive” ETF. So far, SEC postponed the consideration of these applications. When the “basket funds” will become popular, the full season of altcoin will come, the analyst believes.
At the end of August, the Kanary Capital investment company has applied to the SEC to launch a sp – a spotal ETF, tied to the Trump Memicoine produced by the US President Donald Trump.
Source: Bits
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