Anchorage's president says Bitcoin ETFs mark a shift, hinting at forthcoming altcoin ETFs like Ethereum and Solana.
The exec suggested that regulators cannot indefinitely block legitimate financial products from entering the market.“What the market is actually counting on is definitely a set of new crypto products that will come to market soon, including Ethereum ETFs, Solana ETFs, and many other crypto products that I’m sure are coming to market. It’s really this starting gun that’s what is happening and not really just a Bitcoin ETF on its own.
The exec observed that price action has also played its part in drawing attention to the space. With each price surge, the investor base expands, and more crucially, it attracts a wave of new talent into the ecosystem.“Gold has been pretty steady, but Bitcoin is cryptographic; it is code.” Monica emphasized that gold has a relatively steady inflation rate due to new gold being mined from the earth annually. Meanwhile, Bitcoin operates under a programmatic and algorithmic framework.
This precise structure allows for a predictable outcome regarding its supply chain events. Additionally, it ensures that the total supply of Bitcoin will never exceed 21 million.In the interview, the discussion ventured into the realm of Bitcoin’s volatility and the speculation on whether its price could revert to $40,000.“Yes, it could go back to $40,000; it could go higher……It’s not that surprising; it’s just part of it.
The exec drew attention to the importance of adopting a long-term perspective toward the cryptocurrency market, suggesting that such an approach is essential for maintaining sanity in a landscape inherently marked by significant volatility.Kamina is a content writer at AMBCrypto.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Is Solana ‘overdue’ a price correction? – Exec’s prediction after altcoins crashBitcoin, along with prominent altcoins such as Ethereum, Dogecoin, Ripple, Solana, and Litecoin, faced substantial declines.
Read more »
Gary Gensler remains silent on Ethereum ETFs: What now?With Bitcoin ETFs now approved, the focus shifts to an Ethereum ETF. But unlike Bitcoin, the approval timeline for ETH ETFs is unclear.
Read more »
Bitcoin ETF v. self-custody: Why this CEO wants you to choose the latterAmidst the green light for Bitcoin ETFs and the looming prospect of Ethereum ETFs, new challenges arise.
Read more »
Solana’s 22x hike from 2022’s low flips BNB – Is Ethereum next?Solana [SOL] broke past $200 in the last 24 hours, surpassing BNB to become the fourth-largest cryptocurrency by market cap.
Read more »
The fate of Ethereum ETFs looks uncertainAn ETF analyst said that lack of dialogue between the SEC and applicants of spot ETH ETFs could impact approval chances.
Read more »
Solana flips Ethereum on this front, thanks to the memecoinsSolana's [SOL] share of the total decentralized exchange (DEX) volume has grown significantly over the past year.
Read more »