Institutional Interest for XRP, Ether, Cardano, and DOGE Skyrockets in the U.S.
Alternative cryptocurrencies have become an institutional favorite over the past few months, and this development is reflected in the spike in altcoin-based filings from institutional investors with the U.S....
Alternative cryptocurrencies have become an institutional favorite over the past few months, and this development is reflected in the spike in altcoin-based filings from institutional investors with the U.S. Securities and Exchange Commission (SEC).
While Bitcoin saw its third-highest week in terms of SEC filings, a milestone that marks continued institutional interest in the leading asset, Ethereum (ETH), Cardano (ADA), XRP, and Dogecoin (DOGE) also recorded a similar increase in related filings.
Data from investment data analytical platform Alphractal displayed a continuous rise in Ethereum (ETH)—-based ETF filings, with a massive jump in filing mentions, crossing 200 in 2024 and further solidifying its position as the top institutional alternative to Bitcoin. With smart contracts as a key point of appeal for market players, investors can be seen throwing their weight behind Cardano (ADA), as the ETF filing mentions crossed 80 in the previous year.
Similarly, Dogecoin (DOGE), with more than 20 SEC filing mentions from the previous year, has been cited repeatedly in institutional portfolios — a development signaling that investors are beginning to take the leading and heavily criticized memecoin seriously.
Institutional players are bracing up for the next phase of the crypto market
While Bitcoin-based ETFs were initially the most demanded products, thanks to the asset’s attractive price value and massive adoption rates, the new development suggests growing trust among institutional investors in alternative coins.
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The shift indicates a focus on diversification as a key strategy among institutional players entering the market, and further affirms the growth and maturation of the crypto market and various blockchain ecosystems.
It’s worth mentioning that SEC filings can be used to measure institutional interest in crypto, and the rise in altcoin-based ETF filings indicates that key players are preparing for the next phase of the market.
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