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U.S. SEC Approves First Solana, XRP, and Cardano ETF: Is the Altcoin Summer Next?

2025-07-01 20:13:08

U.S. SEC Approves First Solana, XRP, and Cardano ETF: Is the Altcoin Summer Next?

Main Idea

The altcoin market has shown midterm weakness alongside Bitcoin, while the U.S. SEC's approval of Grayscale's Digital Large Cap Fund conversion to an ETF may trigger a bullish reversal in the crypto market.

Key Points

1. The altcoin market declined by around 4 percent in the past 24 hours, mirroring Bitcoin's midterm weakness.

2. U.S. Spot Bitcoin ETFs, led by BlackRock’s IBIT, recorded a net cash inflow of about $102 million on Monday, marking 15 consecutive days of inflows.

3. The SEC approved the conversion of Grayscale’s Digital Large Cap Fund (GDLC) into an ETF, which holds $774 million in AUM and includes assets like Bitcoin and Ethereum.

4. The approval of GDLC’s ETF conversion is expected to boost crypto trading volume and may lead to more spot ETF approvals in the near future.

5. Dollar Cost Averaging (DCA) could be a profitable strategy for altcoins as they attempt to follow Bitcoin’s growth trajectory.

Description

The post U.S. SEC Approves First Solana, XRP, and Cardano ETF: Is the Altcoin Summer Next? appeared first on Coinpedia Fintech News The altcoin market has followed Bitcoin (BTC) in midterm weakness, amid historical demand from institutional investors. The crypto market cap declined by around 4 percent in the past 24 hours to hover about $3.366 trillion on Tuesday, July 1, during the mid-North American trading session. Amid the midterm crypto bearish outlook, on-chain data analysis shows institut...

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News Altcoins Bitcoin Crypto news Crypto Regulations Ethereum Ripple (XRP)
$BTC
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$XRP
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