The year 2024 ends with Bitcoin smashing its all-time high of $107,000, while altcoins like Ethereum, Solana, and XRP are trading in the green. This rally is fueled by optimism surrounding lower interest rate cuts in December and MicroStrategy’s inclusion in the Nasdaq 100 index, which has bolstered investor confidence.
Crypto ETFs on the Horizon
According to Bloomberg’s Eric Balchunas, Bitcoin-Ethereum combo ETFs are expected to debut soon, followed by altcoins like Hedera (HBAR). However, Solana (SOL) and XRP ETFs may face delays due to ongoing legal battles with the SEC. Analysts predict approval for these ETFs by late 2025, coinciding with changes in SEC leadership.
The nomination of Paul Atkins, a pro-crypto former SEC commissioner, by President-elect Donald Trump has amplified optimism. With Gary Gensler’s removal as SEC Chair, the regulatory landscape is poised to support broader crypto ETF approvals.