- The arrival of an early ETH Spot ETF approval has the crypto sector in a frenzy.
- Many are eager to see ETH and ETH-based token prices moon soon after the approval.
- Some analysts are already looking towards the next ETF listing, likely Dogecoin (DOGE).
As the early ETH Spot ETF anticipation builds within the crypto community, the expectations for altcoins to move is growing at every second. Analysts expect the price of ETH to shoot to the moon soon after the approval comes through.
Not only does this ETH Spot ETF approval spike the price of ETH but it will also allow for ETH-based tokens to moon as well. In fact, ETH-based memecoins like PEPE and FLOKI will likely surge along with ETH price surges.
So while the crypto community eagerly awaits to see when exactly ETH Spot ETFs will pass approval, other analysts see a greater picture. No doubt, BTC Spot ETFs were a huge success that bought mighty inflows into the crypto market. Similarly, ETH Spot ETFs are expected to do the same.
This brings analysts to the next big question, which altcoin will be considered for the next ETF approval option. One analyst shares his discussion with his inner community and shares a very interesting observation.
According to the discussion, the token will have had to be in the market for a long as Bitcoin (BTC) and Ether (ETH). This narrows down the options to Litecoin (LTC), Ripple’s XRP, Cardano (ADA), and Dogecoin (DOGE), to name some of the top contestants.
The discussion later goes on to dissect these assets and why and how they could be the next big ETF option. Litecoin and Cardano didn’t make the cut as some assets are still being scrutinized by the SEC. However, with the new bill being passed by the US House will likely open doors for them once again.
The analyst says while an ETF for XRP is in the realm of possibility, the asset is still hashing out its battle with the SEC. This brings the only option to DOGE. An asset that has been in the market for a long time, has a solid community, and even support from big names like Elon Musk. This insight is very interesting and no doubt could be very bullish for DOGE holders.
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The post ETH ETF Anticipation Raises Hope for Next Altcoin ETF Proposal, Analyst Eyes Dogecoin (DOGE) as Next Likely Option appeared first on Crypto News Land.
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