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155 Altcoin ETFs Await Approval: Can Institutional Funds Awaken the “Sleeping Bull Market”? | Bee Network

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155 Altcoin ETFs Await Approval: Can Institutional Funds Awaken the “Sleeping Bull Market”? | Bee Network Login 熱門新聞 Meme Launchpad AI 代理商 DeSci 熱門鏈瀏覽器 新人必讀 衝百倍幣 蜜蜂遊戲 必備網站 必備APP 必關大神 DePIN 新人必備 教我避坑 基本工具 深度網站 交易所 NFT 工具 你好， 登出 Web3宇宙 遊戲 DApp 蜂巢 增長平台 生態 搜尋 英語 Coins儲值 登入 下載 Web3大學 遊戲 DApp 蜂巢 生態 家•分析•正文 155 Altcoin ETFs Await Approval: Can Institutional Funds Awaken the “Sleeping Bull Market”?分析4 個月前更新懷亞特 16,8581 2 Original translation: AididiaoJP, Foresight News

Bloomberg predicts that following the launch of Bitcoin and Ethereum ETFs, over 200 加密貨幣 ETFs will be launched in the future. Will altcoins receive the same popularity, or face further volatility? Let’s take a deeper look:

Historical background DATs: Collateral Risk and MNAV Observations The bullish and bearish arguments for altcoin ETFs How did we get here? Key catalysts Macro Impact: $300 Billion in Stablecoin Liquidity Will Drive DeFi Bull 市場 Reverse signal What to watch out for during an ETF launch Three high-impact ETFs to watch Historical background The crypto ETF landscape has evolved dramatically since the launch of the first ETFs. Total net assets in US spot Bitcoin ETFs have surpassed $146 billion, solidifying Bitcoin’s dominance of the crypto market with a 59% share. Ethereum ETFs rank second, holding approximately $25 billion in assets. Cumulative net inflows into spot Bitcoin ETFs have now exceeded $50 billion, and the market continues to see daily inflows.

Before the advent of crypto ETFs, traditional finance held exposure to digital assets through instruments like GBTC and MSTR. This approach gave rise to digital asset treasuries (DATs), which accumulate specific altcoins like ETH, SOL, and XRP so that investors can gain exposure through stocks. DATs serve as a bridge between the pre-ETF era and today’s pending altcoin ETFs, and they are also where the risks arise.

DATs: Collateral Risk and MNAV Observations The market capitalization to net asset value (MNAV) ratio is important because it indicates how easily a DAT can raise capital. When it’s above 1, debt is readily available to purchase more tokens. If it’s consistently below 1, funding is drying up, and reserve sales become a real risk.

Pay close attention to the top DATs’ MNAV and premiums, PIPE unlocking dates, liquidity, and any balance sheet information in 10-Qs or operational updates. Stress can also spread; trouble at a small DAT could affect larger ones, or problems at the top could ripple downward.

The bullish and bearish arguments for altcoin ETFs Bullish reasons

The rise of altcoin ETFs could soon provide a significant liquidity boost to the market. Take the ProShares CoinDesk 20 ETF, for example; it includes key assets such as HBAR, ICP, XRP, and SOL. In total, 155 ETPs tracking 35 cryptocurrencies are awaiting approval. The influx of liquidity into these ETFs will drive up the prices of the associated altcoins, extending the gains seen in Bitcoin and Ethereum ETFs.

Furthermore, ETF inflows drive market attention to underlying tokens, prompting some allocators to purchase higher-beta DATs. DATs subsequently raise funds and accumulate more tokens, potentially further strengthening the altcoin narrative. More importantly, issuers like BlackRock, Fidelity, VanEck, and Grayscale provide a trusted gateway. This potentially unlocks larger and more stable investments than can be accessed solely through exchanges.

Bearish arguments

Altcoins, on the other hand, are struggling to recapture their usual bull market hype, and this weakened demand could limit their performance. The CoinDesk 20 Index highlights this issue: BTC and ETH dominate with weightings of 29% and 22%, respectively, while altcoins like ICP and Filecoin (FIL) comprise just 0.2% of the basket. This concentration means more capital will flow into mainstream cryptocurrencies, benefiting them more.

Furthermore, if funds were to shift from DAT shares to altcoin ETFs, the DAT’s net asset value (MNAV) could drop below 1, leading to a depletion of funds. This could force the sale of reserves, creating direct selling pressure on those altcoins.

Microstructure at launch: Even with a bullish medium-term outlook, expect some 24-72 hour volatility around the launch of the ETF.

How did we get here? Key catalysts The growing interest in altcoin ETFs is driven by a combination of factors:

On September 17, the U.S. Securities and 交換 Commission (SEC) introduced the “Universal Listing Standard for Commodity Trust Shares.” This standard shortens the approval time for new ETFs and makes the process more predictable. Thanks to the SEC’s universal listing standard, we may see multiple ETFs approved in a short period of time when the government reopens.

Earlier, in July, the SEC allowed non-Bitcoin crypto ETFs to conduct physical redemptions, bringing them in line with traditional commodity ETFs, reducing liquidity friction and attracting more institutional funds.

The success of Bitcoin and Ethereum spot ETFs has also driven wider adoption, with 59% of institutions allocating more than 10% of their portfolios to digital assets by mid-2025.

Rule of thumb (strict criteria): ISG-regulated spot trading venue, or at least six months of regulated futures trading with data sharing, or 40%+ tracking in an existing listed ETF. This clears the way for many major and mid-cap tokens.

Macro Impact: $300 Billion in Stablecoin Liquidity Will Drive DeFi Bull Market As of October 2025, there is nearly $300 billion in stablecoin liquidity in circulation globally. This massive infrastructure lays the foundation for ETF-driven capital catalysts, bringing institutional funds into the DeFi ecosystem and amplifying returns.

The synergy between $300 billion in stablecoin liquidity and the expected inflows into altcoin ETFs could create a multiplier effect. For example, the observed inflow-to-market capitalization multiplier for Bitcoin ETFs suggests that every $1 of ETF capital could inflate market capitalization by several dollars. If altcoin ETFs gain traction, this could unlock tens of billions of dollars, pushing total crypto market capitalization to new highs by the end of 2025.

With increased regulatory clarity under Trump-era policies, the influx of institutional capital could significantly boost DeFi protocols, especially those that integrate assets like LINK and HBAR, which bridge traditional finance and blockchain, or collateralized ETFs like REX-Osprey’s application for altcoins such as TAO and INJ.

Furthermore, with the dollar weakening and risk assets near all-time highs, ETFs provide a convenient path for institutions to rotate along the risk curve from BTC to large-cap altcoins and then to mid-cap stocks and DeFi.

Multiple Warning: The impact of inflows on valuation relies on continued net creation and a healthy funded basis. DAT pressure (MNAV

Reverse signal Ever the contrarian, Jim Cramer recently urged investors to sell cryptocurrencies and move into stocks. Given his track record of being wrong at key turning points, I think it’s time to get even more resolute on holding crypto assets.

Concerns that ETFs will cannibalize DATs and trigger liquidations coexist with unprecedentedly strong market access and clarity, ETF pathways, and approval queues. This mismatch could create a bullish pattern if first-week inflows remain strong. Historically, the combination of heightened concerns about DAT pressure and improved market access has often signaled accumulation phases rather than market tops.

What to watch out for during an ETF launch Days 0-3: Anticipate the risks of front-running and the “all good news comes bad news” effect. Focus on net creations and redemptions, as well as the bid-ask spread displayed on the screen. Week 1-4: If net inflows remain strong and spot prices remain consistent with perpetual contract prices, the buy-on-dip bias may continue. Rotation Signal: Higher weekly highs/lows for other cryptocurrencies relative to BTC indicate expanding demand for altcoins. Failing this signal, it’s tempting to maintain a heavy BTC position. Cross-asset clues: DAT premiums improve with ETF inflows, forming a positive feedback loop. Three high-impact ETFs to watch Solana: Beyond BTC and ETH ETFs, Solana is the altcoin with the highest conviction and greatest potential to benefit from diversification. Of the 155 crypto ETFs awaiting approval, 23 target Solana. This strong sign of institutional demand shows where funds may be flowing. Therefore, an ETF tracking Solana is one of the most important ETFs to watch and could potentially deliver significant investment returns. ProShares CoinDesk 20 ETF: Tracks 20 top cryptocurrencies, including BTC, ETH, and altcoins like XRP, which can diversify institutional exposure. REX-Osprey 21-Asset ETF: Designed to provide exposure to specific cryptocurrencies and offer staking capabilities for tokens like ADA, AVAX, DOT, NEAR, SEI, SUI, TAO, and HYPE. The fourth quarter could quickly become dominated by the ETF narrative, boosting related sectors like DeFi. Whether or not altcoins can capture the same demand as BTC, the momentum is undeniable. Stay confident and position yourself for the upcoming altcoin ETF narrative.

本文源自網路： 155 Altcoin ETFs Await Approval: Can Institutional Funds Awaken the “Sleeping Bull Market”?Recommended Articles

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