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The CEO of Bitget stated in an interview with Bloomberg TV: ETFs for altcoins like DOGE, SOL, etc. still face multiple challenges

The CEO of Bitget stated in an interview with Bloomberg TV: ETFs for altcoins like DOGE, SOL, etc. still face multiple challenges

Bitget2024/12/04 04:22

Bitget CEO Gracy Chen was invited to attend an interview on Bloomberg TV, where she mentioned that Bitcoin's fluctuations near the $100,000 mark reflect a strong "arbitrage" sentiment in the short-term market. She pointed out that especially for some whale users who started building positions since 2022, their average holding cost is only about $20,000. Although future cryptocurrency regulation in the United States may tend to be more relaxed, related uncertainties remain an important consideration for investors and some choose to secure profits at current prices.

At the same time, Bitcoin's recent performance has provided more opportunities for altcoins. However, regarding rumors circulating in the market that "DOGE and SOL ETFs will soon be approved", she believes there are still multiple challenges: First of all is the issue of approval order; based on experience with Bitcoin and Ethereum ETFs being passed through mainstream markets usually approve futures ETFs first followed by spot ETFs of relevant assets but these altcoin futures ETFs have not yet been approved; Secondly regulatory disagreements exist as some regulators still dispute whether tokens like SOL are securities which could affect related approval processes; Thirdly there is risk of market manipulation as most altcoins are not as decentralized as BTC and ETH making them relatively more susceptible to manipulation.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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