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In 2023, confidence was high when BlackRock applied for a Bitcoin $114,277 spot ETF, hinting at a potential six-figure BTC price that defied skeptics who predicted Bitcoin’s demise. Amid these swirling narratives, Bitcoin was priced at $28,000 and has now soared to $114,000. The question remains: how will the story unfold for altcoin ETFs?
Anticipation of Altcoin ETF Approval
Many anticipate that the approval of altcoin ETFs could ignite an altcoin bull run before the year concludes. This theory holds weight among investors, especially since current cryptocurrency options aren’t as accessible to institutional investors wishing for safe investment avenues. Currently, they are compelled to rely on centralized or decentralized exchanges.
Altcoin ETFs could remove this obstacle, allowing significant capital to flow into assets like XRP and SOL Coin, which are already seeing millions of dollars in investments. With the SEC’s decision pending in November, approvals are expected soon, particularly for LTC, XRP, and SOL. Hester’s latest statement mentioned that the ETF process is stalled by a government shutdown but provided no specific timeline.
The Impact of BlackRock’s Portfolio Choices
BlackRock has declared that except for ETH, it plans no new altcoin ETF applications due to insufficient demand. Is this a significant issue? Indeed, research head Vetle Lunde at K33 views this as potentially disappointing, considering the BTC ETF’s stellar performance.
“Without BlackRock, is the party over?
BTC ETFs have increased by $26.9 billion this year, but $28.1 billion is from BlackRock’s IBIT. Excluding IBIT, the flow is negative.
BlackRock is absent from the upcoming wave of altcoin ETFs. There’s a chance for competitors to seize robust flows, though this could restrict overall influx.”
BlackRock’s iShares Bitcoin Trust ETF amassed $28.1 billion in 2025. A firm managing over $10 trillion can attract more capital effortlessly. However, altcoin ETFs lack this backing, possibly leading to limited long-term demand. This disparity suggests the envisioned altcoin bull market might turn into disappointment.
BlackRock, managing $13.5 trillion in assets, is a known creditor to governments, unrivaled in size.
Except for anomalies like SOL and XRP, other assets may see meager volumes and capital influx.
