Combined Spot BTC, ETH, And SOL ETF Underway, Says Nate Geraci
Companies issuing exchange-traded funds will file for combined spot BTC, ETH, and SOL ETF this year, said The ETF Store president Nate Geraci on Monday. The prediction primarily follows spot Solana ETF filings by exchange-traded fund issuers VanEck and 21Shares. Spot Ethereum exchange-traded funds have received preliminary approval to start trading this week.
Nate Geraci Predicts Combined Spot Bitcoin, Ether, Solana ETF
With spot Ethereum ETFs anticipated to start trading on July 23, the crypto market recovery sees no signs of stopping amid bullish sentiment. A prediction by Nate Geraci, president of The ETF Store, has further fueled market sentiment, mainly for the Solana ecosystem.
According to Nate Geraci, an issuer will file for combined spot BTC, ETH, and SOL ETF in the next few months. He is upbeat about this happening soon this year after VanEck and 21Shares filed for spot Solana ETF with the U.S. Securities and Exchange Commission (SEC).
“We’re quickly heading down path towards index-based & actively managed crypto ETFs,” added Geraci. He believes the market will witness another paradigm shift in the industry as index-based and actively managed crypto exchange-traded funds. Combined spot BTC, ETH, SOL ETF will offer diversified holdings to investors.
Notably, CME and CF Benchmarks announced the launch of new reference rates and real-time indices for Ripple’s XRP and Internet Computer (ICP). These will be live on July 29. Ripple CEO Brad Garlinghouse pointed out it as a positive development for XRP ETF.
Also Read: Metaplanet Increases Bitcoin (BTC) Holdings, Stock Jumps 20%
Crypto Rises As President Biden Drop Out Of Presidential Race
With President Joe Biden no longer contesting in the presidential election against Republican nominee Donald Trump, Bitcoin and crypto market rally picked pace. However, crypto experts such as BitMEX CEO Arthur Hayes said Kamala Harris as a replacement for Biden would mean tough competition for Trump.
Bitcoin price surpassed $68,000 and ETH price rose above $3550 ahead spot Ethereum ETF launch. The total crypto market volume over the last 24 hours has increased by more than 43%.
Meanwhile, SOL price has jumped over 4% in the past 24 hours, with the price currently trading near $180. The 24-hour low and high are $171.12 and $184.87, respectively. Furthermore, the trading volume has increased by 77% in the last 24 hours, indicating a rise in interest among traders.
Also Read: Ripple CTO Bets on Joe Biden’s Replacement for Pro-Crypto Policy
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