Trump brings crypto ETF: Bitcoin and altcoins explode!

Trump brings crypto ETF: Bitcoin and altcoins explode!

The crypto market is currently experiencing an exciting time, significantly influenced by the latest developments surrounding Donald Trump. Trump, who is active in the crypto business through his Trump Media & Technology Holding, is planning to launch his own crypto ETF and has filed an application with the SEC. This is the second crypto ETF application in a short period of time and it could usher in a new era for investors. The ETF will offer a diversified portfolio composed of: 70% Bitcoin, 15% Ethereum (ETH), 8% Solana (SOL), 5% Cronos (CRO) and 2% XRP. The weighting of the individual cryptocurrencies in this ETF is already causing debate, as CRO receives a higher weighting than XRP. Trump also has connections to the Crypto.com exchange, which issues the CRO token.

The current market dynamics are further reinforced by Trump's announcement of a national crypto reserve. This reserve is said to contain Bitcoin, Ethereum, XRP, Solana and Cardano. Loud Crypto scene This announcement has already led to massive price gains. Bitcoin has temporarily risen above $94,000 and is currently above $92,000, while Ethereum temporarily reached $2,430 and is now trading above $2,350.

Price gains for altcoins

The positive news also allows many altcoins to benefit. Cardano is up over 60% and broke the $1 mark. Ripple (XRP) saw a rise of over 25% and is now at $2.64. Solana (SOL) rose more than 18% and is currently trading at $160. In total, over $300 billion flowed into the crypto market, which means the Fear and Greed Index to 39 out of 100 points.

Additionally, the approval of more crypto ETFs, specifically for altcoins, is expected to further fuel demand and prices. According to analysts, an upcoming political event on March 7 could announce new crypto-friendly regulations and tax benefits, further adding to optimism in the market. The likelihood that more altcoin ETFs will be approved has increased significantly as policymakers appear to be increasingly open to the topic of crypto.

Impact on the market and new projects

Developments in the crypto market, particularly the applications and upcoming approvals for ETFS, are likely to result in massive inflows into altcoins. Experts are already talking about a possible “altcoin season” that could begin soon. There are also new projects such as Bitcoin Hyper, which uses the Solana Virtual Machine for the Bitcoin blockchain to offer innovative functions such as staking and dApps. Bitcoin Hyper has already raised two million US dollars in the presale and offers staking returns of 360% per year, which could further arouse investor interest.

Overall, the mood in the crypto market has noticeably brightened due to Donald Trump's activities and his new plans. The coming weeks could be crucial for the direction and development of cryptocurrencies.