New Cryptocurrency That Could Surge 300% After Ethereum ETF Approval – What Makes Algotech Special
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/Algotech/ – Ethereum ETF is the next big thing on the horizon when it comes to institutional investor support for cryptocurrencies. However, analysts expect the ETF approval to cause a surge in crypto prices across the board, with new ICOs such as Algotech being the hot favorite to experience massive gains.
Crypto ETFs – The New (Old) Way of Investing in Cryptocurrencies
The latest cryptocurrency boom has bought interest from institutional and traditional finance (TradFi) investors like we have never seen before. The easiest way to convince people who are interested in exposure to cryptocurrencies is considered to be an Exchange Traded Fund (ETF).
An ETF is a conventional fund that is extremely liquid due to it being traded on an exchange. ETFs make use of lean management teams to invest in certain types of assets or strategies. The first Bitcoin (BTC) ETF was approved in January 2024, paving the way for other cryptocurrency ETFs to follow in its wake. Companies offering the ETF include household TradFi names such as BlackRock, Fidelity, and Grayscale, pointing to the clear fact that cryptocurrency is now a part of mainstream finance.
For the last few months, speculation about an Ethereum (ETH) ETF has been spread across message boards and crypto news sites. This speculation is not make-believe either, as companies such as BlackRock have had outstanding applications with the SEC for an Ethereum ETF since late 2023.
An Ethereum ETF Is Only a Matter of Time
Considering the fact that the Bitcoin ETF is relatively new, regulators are currently apprehensive on whether they want to greenlight further crypto ETFs. Latest news seems to suggest that the SEC wants to hold off on an Ethereum ETF for now. Currently, the chances of an Ethereum ETF being approved in May 2024 stand at around 30% according to Bloomberg ETF analysts.
However, major analysts still believe that while the approval may not occur in May, it is only a matter of time before Ethereum ETFs come to exist. Advocates of cryptocurrencies have proven that it is here to stay, and regulators will eventually have no choice but to cave in to public demand and not only offer ETFs for Ethereum, but other cryptocurrencies as well such as Solana (SOL) and Ripple (XRP).
The deadline for the first verdict regarding Ethereum ETFs is currently May 23. However, further applications for crypto ETFs will continue to pour in and analysts believe that the SEC will eventually cave into the pressure even if the approval doesn’t happen in May.
Algotech Ready for a Huge Push as Per Industry Insiders
It is widely believed that an approval for Ethereum ETFs will send other, lesser-known cryptocurrencies surging up in price. Currently, Algotech (ALGT) is the hottest ICO in the industry, having raised over a million dollars in pre-seed funding.
Algotech (ALGT) has carried this momentum forward into its first public-funding round, where over $10 million worth of tokens are up for grabs. It took Algotech (ALGT) only two weeks to raise the first $2 million, and the public is snatching up the rest of the tokens quite fast. Some analysts estimate that by the time Algotech is listed on the exchange and the Ethereum ETF is approved, Algotech’s price could surge by as much as 300%.
This wouldn’t come as a huge shock to anyone, especially considering that Algotech aims to merge blockchain and TradFi with its state-of-the-art AI and Machine Learning driven trading platform.
There is still a sizable allocation of tokens available, so investors looking for crypto ICOs can still take part in Stage 2. More information about what makes Algotech special can be found in their Whitepaper.
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