- ETFs for XRP, BTC, DOGE, BONK, and TRUMP all clear the SEC review.
- Trading for these new products/services is set to kick off today.
- Altcoins continue to show strong bullish indicators.
The crypto market grows more bullish every day as the bull market phase rages on. The latest news and developments in the market, alongside the growing clarity in crypto regulations, allow the crypto market to thrive more than ever before. The most recent announcement putting the crypto community in a bullish frenzy is that ETFs for XRP, BTC, DOGE, BONK, and TRUMP all clear the SEC review, with trading set to start today.
Several Altcoin ETFs, Like XRP and TRUMP All Clear the SEC Review
This bull cycle saw the registration, filing, and approvals of Bitcoin and Ethereum ETHs. As soon as BTC and ETH spot ETFs took to the market, institutions providing these services saw an undeniable demand for Bitcoin and Ethereum ETFs, leading to immediate success for crypto spot ETFs. This success eventually led to both the pioneer crypto asset and the pioneer altcoin asset to pump in prices and eventually set new ATH prices.
However, the success of these products and services ushered in an even greater BTC and ETH accumulation race. Since the price of BTC had already gone on to set multiple ATHs, institutions began to accumulate more ETH over BTC at some point, since ETH had yet to set new ATH prices. Even now, these institutions continue to aggressively buy and hold both ETh and BTC, hoping to meet the growing demand of their spot ETFs.
As a result, analysts believe that the crypto market is heading into a huge supply shock event for ETH and BTC in particular. Already, ETH and BTC supply on exchanges are dwindling to new record lows, meaning the supply drop could trigger a price pump, hinting at a glorious price rally in the weeks ahead. As long as institutions are accumulating, the price of these crypto assets will continue to soar.
Trading to Kick Off Today
The success of ETH and BTC ETFs led to expectations for altcoin ETFs to make an appearance as well. Presently, several altcoin ETFs have been filed and are waiting to be approved by the relevant authorities. These altcoin ETFs include ADA, XRP, NEAR, and many more. Most recently, the pioneer memecoin Dogecoin (DOGE) received approval, and the DOGE ETF is officially ready for its debut.
As we can see from the post above, the SEC just cleared a handful of ETFs following its review of their filings. To highlight, XRP, BTC, DOGE, BONK, and TRUMP have all been cleared to move towards the next process for ETF availability. The post goes on to state that trading for these newly reviewed ETFs will kick off today. The XRP community seems to be the most eager to see XRP ETF make their debut.
