SOL, XRP, and HBAR Expected to Rise as Pathway to ETFs Becomes Clearer

The cryptocurrency market is abuzz with activity as numerous spot ETF applications are currently underway for altcoins such as Solana (SOL), XRP, Hedera (HBAR), Cardano (ADA), and Avalanche (AVAX).

This increase in ETF initiatives indicates that the market might be approaching an “altcoin season,” where investors broaden their attention beyond Bitcoin and Ethereum.

Nate Geraci, President of The ETF Store, has verified that applications for ETFs associated with SOL, XRP, and HBAR are already in progress.

Alongside crypto index fund uplistings from Grayscale & Bitwise, there are presently spot ETF filings for the following…
-SOL
-XRP
-HBAR
It’s likely that at least one issuer will also pursue an ADA or AVAX ETF.

— Nate Geraci (@NateGeraci) November 21, 2024

This development coincides with Bitcoin’s constrained supply and rising institutional investments, which are driving its price upward.

The possibility of a DOGE ETF further enhances the positive outlook surrounding cryptocurrency ETFs.

SOL, XRP, and HBAR ETFs: When Are They Expected?

Solana has attracted significant interest due to its scalability and minimal transaction costs, leading asset management firm VanEck to submit a filing for a spot ETF that leverages its expanding ecosystem.

XRP has regained confidence following recent regulatory clarity regarding its classification as a digital asset.

With Bitwise also seeking an XRP spot ETF, the market is optimistic about XRP’s future potential.

Hedera (HBAR) is gaining traction as well; its effective distributed ledger technology has piqued the interest of investors searching for blockchain solutions.

The recent S-1 registration by Canary Capital indicates that HBAR may soon compete for ETF listings alongside other altcoins.

Cardano (ADA) and Avalanche (AVAX) are also viewed as strong candidates for upcoming ETF applications.

Cardano’s focus on security and scalability through its proof-of-stake model makes it attractive to asset managers seeking dependable investments.

Similarly, Avalanche’s swift transaction finality and multi-chain capabilities position it as an appealing choice for those aiming to benefit from the evolving DeFi landscape.

Geraci has highlighted Bitcoin’s limited supply as a crucial element influencing its value.

Of the total 21 million Bitcoins, nearly 20 million have been mined, with an estimated 4-5 million permanently lost.

This scarcity enhances Bitcoin’s appeal as an investment vehicle, especially among institutional investors who are increasingly acknowledging its potential as a store of value.

Notably, Satoshi Nakamoto’s wallet alone contains over 1 million Bitcoins, while spot ETFs collectively hold another million.

Such factors contribute to Bitcoin’s reputation as “digital gold,” further cementing its role in investment portfolios.

Bloomberg’s ETF analyst Eric Balchunas has indicated that December 31 could be a significant date for the filing of a DOGE ETF, reflecting the growing interest in cryptocurrency ETFs globally.

12/31 feels like a good over/under date for Doge filing

— Eric Balchunas (@EricBalchunas) November 21, 2024

Financial institutions are keen to broaden their offerings and cater to the increasing demand for digital asset investments.

The expected approval of various altcoin ETFs signifies a shift towards greater acceptance of cryptocurrencies within traditional financial markets.

With Donald Trump returning to office and his administration’s supportive stance on crypto, there is optimism that altcoins like SOL and XRP could soon have their own ETFs.

This momentum suggests favorable developments for these cryptocurrencies as they gain popularity among institutional investors.

Source: TradingView / SOL

Solana (SOL) is currently trading at around $256, reflecting a 25% increase over the past week and reaching new all-time highs as interest grows regarding its potential ETF listing.

Source: TradingView / XRP

XRP has also demonstrated strong performance, rising 30% in the last 24 hours to reach $1.45. Analysts anticipate further increases based on robust technical indicators and positive market sentiment.

FreeDum Fighters ($DUM) – The Memecoin Gaining Traction With Altcoins

Amidst the excitement surrounding SOL, XRP, and HBAR, FreeDum Fighters ($DUM) presents an intriguing opportunity for investors interested in a novel meme coin concept that merges humor with blockchain technology.

FreeDum Fighters provides a satirical perspective on contemporary politics while establishing an interactive ecosystem where users can earn rewards through gameplay and community involvement.

The platform showcases fictional characters that parody political ideologies, making it both entertaining and thought-provoking.

Participants can influence decisions impacting the platform’s future by engaging with $DUM tokens, fostering a sense of community ownership.

This distinctive approach not only offers entertainment but also promotes active participation from users who wish to have their voices heard within the ecosystem.

FreeDum Fighters aims to leverage the increasing popularity of meme coins while incorporating meaningful gameplay mechanics that keep users engaged over the long term.

The project aspires to cultivate a vibrant community where players can compete in enjoyable challenges while earning rewards—transforming what could be merely another meme coin into an engaging platform with genuine utility.

With its unique strategy and rising popularity in the meme coin sector, FreeDum Fighters could draw significant interest from investors looking to diversify their portfolios during this potential altcoin season.

The presale has already attracted attention, with early investors beginning to see returns.

With favorable developments surrounding altcoin ETFs likely to spur further interest in these assets, now presents an opportune moment for investors to consider $DUM before it gains momentum.

Buy DUM Here

The post SOL, XRP, and HBAR To Pump Further As Road to ETFs Opens Up appeared first on Cryptonews.