As ETF Approval Expectations Increase for Altcoins Such as Solana (SOL) and XRP, Famous CEO Lists the Obstacles!

Bitcoin While the trend has been fluctuating in recent days, altcoins have started to attack. While investors think the altcoin season has started, Grayscale spot Solana ETF application has arrived.

While Grayscale’s SOL move has increased expectations and speculation that various altcoin ETFs will be approved, the CEO of leading exchange Bitget said that challenges to the approval of altcoin spot ETFs remain.

Speaking to Bloomberg TV Bitget CEO Gracy Chen explained the obstacles to gaining approval for altcoin ETFs such as Solana (SOL), XRP, and Dogecoin (DOGE).

The famous CEO, who revealed the lack of futures ETFs as the first reason, emphasized that futures ETFs were approved before spot ETF approvals in Bitcoin and Ethereum.

Chen said the lack of futures ETFs for altcoins such as SOL, XRP, and DOGE remains a hurdle for approval, compared to the case of BTC and ETH.

Chen, who cited the second reason that some regulators still think that tokens such as SOL are securities, said that these discussions may negatively affect the approval processes.

Famous CEO finally most altcoins BTC ve ETH He stated that altcoins are relatively more susceptible to manipulation and that the risk of market manipulation is higher in altcoin ETFs compared to BTC and ETH.

Gracy Chen, CEO of Bitget, stated that Bitcoin’s fluctuations near the $ 100,000 level are short-term and reflect a strong sense of “arbitrage” among investors.

According to the famous CEO, although cryptocurrency regulations in the US tend to be more positive, investors prefer to profit from current prices due to the uncertainties that exist. This causes the BTC price to drop. However, investors see price declines as buying opportunities because they expect further rises. This cycle among investors causes the price to fluctuate at certain levels.

*This is not investment advice.