SEC approves first ETF including Solana, XRP and Cardano

📌 SEC approves first ETF including Solana, XRP and Cardano: is altcoin season coming?

Recently, the SEC has been increasingly contacting fund managers planning to offer spot altcoin ETFs. . Etf

– Recently, the SEC has been increasingly contacting fund managers planning to offer spot altcoin ETFs.

Wall Street analysts are predicting an increase in the approval of spot cryptocurrency ETFs in the second half of 2025.

The approval of more spot cryptocurrency ETFs will increase trading volume and volatility.

The altcoin market, following bitcoin (BTC), is experiencing medium-term weakness amid historic demand from institutional investors. Over the past 24 hours, the total cryptocurrency market declined by about 4 percent to about $3.366 trillion on Tuesday, July 1, at the height of the North American trading session.

amid the bearish outlook for cryptocurrencies in the medium term, analysis of onchain data shows that institutional investors continue to actively accumulate funds. For example, the U.S. Spot Bitcoin ETFs, led by BlackRock’s IBIT, recorded net cash inflows of around $102 million on Monday, thus registering 15 consecutive days of capital inflows. {

Will the SEC Spot Altcoin ETF approve a market reversal?

the SEC has been known to take a pro-cryptocurrency stance since President Donald Trump’s 2nd inauguration. On Tuesday, the SEC gave the go-ahead for Grayscale’s Digital Large Cap (GDLC) fund to convert into an ETF.

the Grayscale Digital Large Cap Fund, which manages $774 million in assets, holds a range of digital assets including Bitcoin, Ethereum, XRP, Solana and Cardano.

The approval of GDLC’s conversion to an ETF is an important milestone for the entire altcoin market, which is awaiting more spot ETF approvals in the coming months. As a result, this approval will play a crucial role in the net trading volume of cryptocurrencies in the next few months.

expected increase in demand in the spot market is likely to trigger a bullish reversal in the near future.

After the approval of GDLC’s conversion into an ETF, the near-term outlook for altcoins has improved significantly. Moreover, the SEC will soon approve several more cryptocurrency ETFs.

As most altcoins are trying to replicate Bitcoin’s challenging rise, the inclusion of dollar-cost averaging (DCA) could be profitable by the end of this year.

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