Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Why Altcoin Spot ETFs Face Hurdles Despite Bitcoin’s Volatility, According to Bitget CEO

Why Altcoin Spot ETFs Face Hurdles Despite Bitcoin’s Volatility, According to Bitget CEO

Cryptodnes2024/12/05 14:11
By:Cryptodnes

Recently, Bitcoin has seen some price volatility, but altcoins have been gaining momentum.

While many speculated that altcoin season had arrived, Grayscale’s move to apply for a spot Solana ETF has intensified hopes for more altcoin ETFs. However, Bitget CEO Gracy Chen warned that the road to approval for these altcoin ETFs remains challenging.

In an interview with Bloomberg TV, Chen outlined key obstacles preventing the approval of spot ETFs for altcoins like Solana (SOL), XRP , and Dogecoin ( DOGE ). She pointed to the lack of futures ETFs for these assets as a significant hurdle, noting that Bitcoin and Ethereum saw futures ETFs approved before their spot ETF counterparts. Without similar futures products for altcoins, the approval process is slowed down.

Chen also mentioned that some regulators still view tokens like Solana as securities, which complicates the regulatory landscape and could delay approval. Additionally, she highlighted that although many altcoins share a decentralized structure with Bitcoin and Ethereum, they are more vulnerable to market manipulation. This elevated risk makes altcoin ETFs a tougher sell compared to those for BTC and ETH.

READ MORE:
Tron’s Surge: Is Political Instability Driving TRX’s 70% Rally?

As for Bitcoin, Chen suggested that the fluctuations around the $100,000 mark are short-term and driven by “arbitrage” sentiment. She explained that while US cryptocurrency regulations are becoming more favorable, investor uncertainty has led to price dips, which many see as buying opportunities. This back-and-forth cycle of buying on dips and speculating on future growth is contributing to Bitcoin’s ongoing price volatility.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!