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Crypto ETFs for XRP, SOL, and DOGE: A Boon for These Coins?


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Following Bitcoin ETF success, Grayscale, Bitwise, and VanEck push altcoin ETFs for Solana (SOL), XRP, and others, as Bitcoin ETFs reach $100B AUM with $773M daily inflows.

The crypto Exchange-Traded Fund (ETF) race is heating up after the major success of Bitcoin spot ETF launch in the US. In the latest post, Nate Geraci, president of The ETF Store, suggested that the applications for Solana (SOL), Ripple’s XRP, HBAR, and even Cardano (ADA) or Avalanche (AVAX) ETFs are now in the mix.

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Major financial players Grayscale are exploring altcoin ETFs, signaling a massive shift beyond Bitcoin and Ethereum. It hints that institutional investors are eyeing diverse exposure to the crypto market and this has led the altcoins to set up the pace ahead.

Bitcoin ETFs have reached $100 billion in assets in just 10 months, and with Solana's scalable, fast, and low-fee blockchain, VanEck's recent filing for a spot SOL ETF targets its expanding ecosystem.

Ripple's XRP has surged over 57.86% in the last 7 days following its legal victory, boosting confidence in its long-term potential, with XRP trading at $1.12 and a trading volume of $6.98 million. 

Solana (SOL) has seen impressive growth as well, rising 9.19% in the past 7 days and the price of Solana (SOL) today is $242.48, with a 24-hour trading volume of $7.31 billion. The total circulating supply of Solana is approximately 474.6 million SOL. Over the last 24 hours, Solana has experienced $7.3 billion in trading activity. Solana coin reached an all-time high of $259.96 on November 7, 2021, and an all-time low of $0.50 on May 12, 2020. 

Dogecoin (DOGE) has experienced the most significant surge, skyrocketing 167% over the last month, marking a major comeback for the popular meme coin.

In addition,  HBAR has gained attention for its powerful distributed ledger technology, prompting Canary Capital to file for an S-1 registration to bring HBAR into the ETF spotlight. Industry experts speculate that Cardano, known for its secure and scalable Proof-of-Stake consensus, and Avalanche (AVAX), with its sub-second finality and multi-chain architecture, may also be in line for ETF launches.

Bitcoin ETFs have seen a massive boom, with 12 ETFs from major players like BlackRock and Fidelity attracting a $773 million net inflow on Wednesday alone, driven by Bitcoin’s surge towards $100K. These funds have collectively reached $100 billion in total assets under management (AUM). BTC rose over 4% in the last 24 hours, hitting a high of $97,892. Since November 5, following Trump’s US Presidential election win, Bitcoin ETFs have received $5.8 billion in inflows. Optimism surrounding the President-elect’s pro-crypto stance, including the potential creation of a digital-asset policy position at the White House, is fueling this growth.

Bitcoin’s 129% rally in 2024 has outperformed stocks, gold, and most other assets. With ETFs now mainstream, Bitcoin’s institutional and retail appeal is stronger than ever.

To read more information, visit Coinpedia Markets.

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