After US President Donald Trump took office, altcoin ETFs boomed and began to be launched despite the government being shut down.
Solana (SOL), Litecoin (LTC), and Hedera (HBAR) ETFs were the first to launch, followed by XRP and Dogecoin (DOGE).
At this point, Franklin Templeton’s XRP ETF and Grayscale’s XRP and DOGE ETF were recently launched.
The number of XRP ETFs in the US increased to four, while spot XRP ETFs recorded net inflows of $164 million yesterday.
According to SoSoValue data, on November 24, four US XRP ETFs recorded a total net inflow of $164 million.
Among the inflows, Grayscale’s GXRP fund led the day with $67.36 million in inflows, while Franklin’s XRPZ fund attracted $62.59 million, Bitwise’s XRP fund $17.71 million, and Canary’s XRPC fund $16.38 million.
In contrast, Grayscale’s spot DOGE ETF, the first DOGE ETF in the US, saw $1.41 million in volume in its first transaction but no net inflow.
The first US spot Dogecoin ETF, launched by Grayscale on the New York Stock Exchange (NYSE), recorded zero net inflows on its first day of launch.
Again, according to SoSoValue data, the ETF’s trading volume reached $1.41 million and its total net asset value reached $1.71 million.
Altcoin ETF Rain is Coming!
As altcoin ETFs continue to trade consecutively, Bloomberg senior ETF analyst Eric Balchunas has claimed that a deluge of altcoin ETFs is about to begin.
Balchunas stated that he expects more than 100 crypto ETFs to be launched in the next 6 months.
A total of 5 spot cryptocurrency ETFs will be launched in the next 6 days. We don’t have a firm number beyond that, but we expect a steady supply.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/while-xrp-wind-blows-in-the-market-dogecoin-doge-drops-to-zero-bloomberg-analyst-shares-updated-expectations-for-altcoin-etfs/
