After Donald Trump registered a win over Kamala Harris in the US Elections 2024, US stocks, and crypto have surged exponentially pushing Bitcoin to $81k, and other cryptocurrencies soon followed up. As crypto including Ripple(XRP), Cardano(ADA), Solana(SOL) continue this bullish trends, experts believe that the Exchange Traded Funds(ETFs) for XRP, SOL and ADA are on the horizon.
The ETF Store President Nate Geraci stated today on X that several cryptocurrency ETF will be submitted this week, and added, “It can be assumed that multiple issuing institutions have prepared sufficiently for the election results. There is no harm in accelerating the progress now.”
Prediction…
There will be several spot crypto ETF filings this week.
XRP, SOL, ADA, etc.
Assume multiple issuers were highly prepared for election results.
No downside to getting aggressive now.
— Nate Geraci (@NateGeraci) November 11, 2024
Donald Trump’s win seemed to have resuscitated the crypto industry, and this also gives several stakeholders from the industry a positive hope for ETFs. However, the hope is not superfluous and comes on the hot heels of ETFs positive performance recently and the market sentiments for SOL, XRP, and ADA.
For instance, ADA is currently bullish as it is trading around $0.6038 after seeping a jump of 16.78%, XRP is trading at $0.5928 after a jump of 4.04% in the past day and its 24 hour volume has gone up to $4.14B after a jump of 171.45%. SOL, on the other hand, has come out in flying colors , when it comes to its market performance. It is trading at $209.94 after a jump of 3.62% in the past day. SOL’s 24 hour market volume has reached a staggering $8.71B , and its market cap has reached $99.13 billion.
Given the bullish trends for these cryptocurrencies, it is only a matter of time before they enter the ETF market, presenting an opportunity for conventional traders to join the crypto rally. It is worth mentioning that, crypto ETF market is already on the path of winning trust of the conventional financial market, thanks to US Bitcoin ETF cumulative net inflow of $25.79 Billion and Ethereum ETF’s daily total inflow of $85.86M, as of November 8. Therefore, amidst the overall positive sentiment around crypto, more ETF filings could well be on the way.
Also Read: BlackRock’s Bitcoin ETF Reaches $33.17B, Surpasses Gold ETF
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