More than 100 cryptocurrency ETFs will be launched in the coming months": James Seyffart

What will be the next cryptocurrencies to say "present" on WallThere are more than 150 cryptocurrency ETF applications submitted to the SEC.

New regulations facilitate the launch of cryptocurrency ETFs.

The digital asset market is on the verge of a significant transformation, marked by the imminent arrival of an avalanche of exchange-traded funds (ETFs). A projection, made by James Seyffart, senior research analyst at Bloomberg Intelligence, suggests that "more than 100 cryptocurrency ETFs will be launched in the coming months".

Seyffart, one of the analysts who highly likely anticipated the approval of bitcoin (BTC) ETFs in January 2024, projects a landscape of accelerated expansion for cryptocurrency-based financial instruments. He also mentions that he has been continuously tracking the existing applications. “I am tracking 150 different products that have been submitted and have not yet been launched”.

The analyst explains that this figure includes a variety of products that go beyond simple spot ETFs. “Some are leveraged products, so I don't know if they count. But we are talking about 35 different assets for a basket product that all those ETFs track. So there are many applications available. Some will be more imminent than others”.

This wave of launches responds to the usual dynamics of the financial sector. “The thing is, as is usual in the ETF industry, they launch and then see what works,” says the expert, highlighting a market strategy where investment firms propose multiple options to gauge investor appetite. The consolidation of cryptocurrencies in the traditional market

Despite the optimism about the number of launches, Seyffart warns of the inevitable consolidation that will follow this rapid expansion. The analyst refers to the debate that arose after the approval of the ETFs