Industry News
Jan 28, 2025
Industry News
Industry News
Grayscale Investments, a leading crypto asset management giant, has seen an astonishing 85% uptick over the last month, according to Cryptorank. High-flying altcoin prices have driven this incredible growth. Analysts are now abuzz with predictions of an impending "altcoin season," a period when other cryptocurrencies outperform Bitcoin.
Stellar's XLM shot up an astonishing 466% in November, while XRP jumped an impressive 421%. The trend was further complemented by Decentraland's MANA enjoying an impressive 166% (more on RWA Tokenization in Real Estate). The spate of altcoin action shows a growing sentiment that the crypto market is entering a new phase-one in which altcoins will take center stage.
Source: TradingView
Bitcoin, usually the backbone of the crypto space, has lost its grip. On November 30, Bitcoin's market dominance broke below a crucial two-year support line. If history is to repeat itself, such events have in the past been followed by altcoin booms as investors shift funds from Bitcoin into altcoins.
Source: Rekt Capital
Ryan Lee, chief analyst at Bitget Research, predicted that XRP could surge to $2.57 by December 2024. He said this could be the point when Bitcoin's halving occurs, which has traditionally been a catalyst for altcoins.
“It is anticipated that XRP could reach approximately $2.57 during [December 2024]. Notably, XRP's price trends may be influenced by Bitcoin's halving event. Historically, XRP has shown significant growth around 228 days after a Bitcoin halving,” said Lee.
Adding to this optimism, asset manager 21Shares has filed for an XRP exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission. If approved, this would serve as a strong catalyst for XRP's price and further strengthen its potential in the upcoming altcoin season.
Regulatory changes may also help the crypto market. The SEC Chairman Gary Gensler will leave on January 20 for Paul Atkins, an advocate of innovation and one with extensive crypto experience. According to the analysts, this change may provide friendly crypto regulations and the approval of more ETFs, thus being bullish for altcoins.
Grayscale Investments intends to convert its existing Solana Trust into a full-scale spot Solana exchange-traded fund. The company filed with the SEC to approve its application to introduce this ETF, which is looking to trade under the ticker GSOL on the New York Stock Exchange.
The largest Solana-dedicated fund, Grayscale's Solana Trust, currently manages net assets of about $134.2 million. For context, the trust represents about 0.1% of the total circulating supply of the Solana token. Coinbase Custody would be the custodian for the ETF while back office services will be handled by BNY Mellon Asset Servicing if approved.
The move puts the company in step with the broader industry trend of filings for spot Solana ETFs, including giants such as VanEck, 21Shares, and Bitwise. Such applications are an expression of increased confidence in the high performance of the digital asset Solana. It has surged by 277% over the past year, a sign of growing popularity.
The SEC has already begun reviewing applications for various Solana ETFs, signalling progress for crypto-backed financial products. Grayscale is optimistic about receiving approval soon, thanks to favourable regulatory developments in the United States.
If successful, this ETF would track Solana's price directly, mirroring the structure of Grayscale's Bitcoin and Ethereum ETFs. The potential launch could reshape the landscape for Solana investors, offering streamlined access to its market performance.
Grayscale Investments, a leading crypto asset management giant, has seen an astonishing 85% uptick over the last month, according to Cryptorank. High-flying altcoin prices have driven this incredible growth. Analysts are now abuzz with predictions of an impending "altcoin season," a period when other cryptocurrencies outperform Bitcoin.
Stellar's XLM shot up an astonishing 466% in November, while XRP jumped an impressive 421%. The trend was further complemented by Decentraland's MANA enjoying an impressive 166% (more on RWA Tokenization in Real Estate). The spate of altcoin action shows a growing sentiment that the crypto market is entering a new phase-one in which altcoins will take center stage.
Source: TradingView
Bitcoin, usually the backbone of the crypto space, has lost its grip. On November 30, Bitcoin's market dominance broke below a crucial two-year support line. If history is to repeat itself, such events have in the past been followed by altcoin booms as investors shift funds from Bitcoin into altcoins.
Source: Rekt Capital
Ryan Lee, chief analyst at Bitget Research, predicted that XRP could surge to $2.57 by December 2024. He said this could be the point when Bitcoin's halving occurs, which has traditionally been a catalyst for altcoins.
“It is anticipated that XRP could reach approximately $2.57 during [December 2024]. Notably, XRP's price trends may be influenced by Bitcoin's halving event. Historically, XRP has shown significant growth around 228 days after a Bitcoin halving,” said Lee.
Adding to this optimism, asset manager 21Shares has filed for an XRP exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission. If approved, this would serve as a strong catalyst for XRP's price and further strengthen its potential in the upcoming altcoin season.
Regulatory changes may also help the crypto market. The SEC Chairman Gary Gensler will leave on January 20 for Paul Atkins, an advocate of innovation and one with extensive crypto experience. According to the analysts, this change may provide friendly crypto regulations and the approval of more ETFs, thus being bullish for altcoins.
Grayscale Investments intends to convert its existing Solana Trust into a full-scale spot Solana exchange-traded fund. The company filed with the SEC to approve its application to introduce this ETF, which is looking to trade under the ticker GSOL on the New York Stock Exchange.
The largest Solana-dedicated fund, Grayscale's Solana Trust, currently manages net assets of about $134.2 million. For context, the trust represents about 0.1% of the total circulating supply of the Solana token. Coinbase Custody would be the custodian for the ETF while back office services will be handled by BNY Mellon Asset Servicing if approved.
The move puts the company in step with the broader industry trend of filings for spot Solana ETFs, including giants such as VanEck, 21Shares, and Bitwise. Such applications are an expression of increased confidence in the high performance of the digital asset Solana. It has surged by 277% over the past year, a sign of growing popularity.
The SEC has already begun reviewing applications for various Solana ETFs, signalling progress for crypto-backed financial products. Grayscale is optimistic about receiving approval soon, thanks to favourable regulatory developments in the United States.
If successful, this ETF would track Solana's price directly, mirroring the structure of Grayscale's Bitcoin and Ethereum ETFs. The potential launch could reshape the landscape for Solana investors, offering streamlined access to its market performance.
Grayscale Investments, a leading crypto asset management giant, has seen an astonishing 85% uptick over the last month, according to Cryptorank. High-flying altcoin prices have driven this incredible growth. Analysts are now abuzz with predictions of an impending "altcoin season," a period when other cryptocurrencies outperform Bitcoin.
Stellar's XLM shot up an astonishing 466% in November, while XRP jumped an impressive 421%. The trend was further complemented by Decentraland's MANA enjoying an impressive 166% (more on RWA Tokenization in Real Estate). The spate of altcoin action shows a growing sentiment that the crypto market is entering a new phase-one in which altcoins will take center stage.
Source: TradingView
Bitcoin, usually the backbone of the crypto space, has lost its grip. On November 30, Bitcoin's market dominance broke below a crucial two-year support line. If history is to repeat itself, such events have in the past been followed by altcoin booms as investors shift funds from Bitcoin into altcoins.
Source: Rekt Capital
Ryan Lee, chief analyst at Bitget Research, predicted that XRP could surge to $2.57 by December 2024. He said this could be the point when Bitcoin's halving occurs, which has traditionally been a catalyst for altcoins.
“It is anticipated that XRP could reach approximately $2.57 during [December 2024]. Notably, XRP's price trends may be influenced by Bitcoin's halving event. Historically, XRP has shown significant growth around 228 days after a Bitcoin halving,” said Lee.
Adding to this optimism, asset manager 21Shares has filed for an XRP exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission. If approved, this would serve as a strong catalyst for XRP's price and further strengthen its potential in the upcoming altcoin season.
Regulatory changes may also help the crypto market. The SEC Chairman Gary Gensler will leave on January 20 for Paul Atkins, an advocate of innovation and one with extensive crypto experience. According to the analysts, this change may provide friendly crypto regulations and the approval of more ETFs, thus being bullish for altcoins.
Grayscale Investments intends to convert its existing Solana Trust into a full-scale spot Solana exchange-traded fund. The company filed with the SEC to approve its application to introduce this ETF, which is looking to trade under the ticker GSOL on the New York Stock Exchange.
The largest Solana-dedicated fund, Grayscale's Solana Trust, currently manages net assets of about $134.2 million. For context, the trust represents about 0.1% of the total circulating supply of the Solana token. Coinbase Custody would be the custodian for the ETF while back office services will be handled by BNY Mellon Asset Servicing if approved.
The move puts the company in step with the broader industry trend of filings for spot Solana ETFs, including giants such as VanEck, 21Shares, and Bitwise. Such applications are an expression of increased confidence in the high performance of the digital asset Solana. It has surged by 277% over the past year, a sign of growing popularity.
The SEC has already begun reviewing applications for various Solana ETFs, signalling progress for crypto-backed financial products. Grayscale is optimistic about receiving approval soon, thanks to favourable regulatory developments in the United States.
If successful, this ETF would track Solana's price directly, mirroring the structure of Grayscale's Bitcoin and Ethereum ETFs. The potential launch could reshape the landscape for Solana investors, offering streamlined access to its market performance.
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