interview

Bitget CEO stated in an interview with Bloomberg TV: Altcoin ETFs such as DOGE and SOL still face multiple challenges

ChainCatcher news, Bitget CEO Gracy Chen was invited to attend a Bloomberg TV interview. In the interview, Gracy mentioned that Bitcoin is fluctuating around the $100,000 mark, reflecting a strong "arbitrage" sentiment in the short-term market. She pointed out that especially some whale users who started accumulating positions in 2022 have an average holding cost of only about $20,000. Although future cryptocurrency regulations in the U.S. may become more lenient, the related uncertainties remain an important consideration for investors, and some investors choose to cash out at the current price level.At the same time, Bitcoin's recent performance has provided more opportunities for altcoins. However, regarding the rumors circulating in the market that "ETFs for altcoins like DOGE and SOL may soon be approved," she believes there are still multiple challenges: first, the issue of approval order. Based on the experience of Bitcoin and Ethereum ETFs being approved, the mainstream market usually first approves futures ETFs, followed by spot ETFs for related assets, and none of these altcoins' futures ETFs have been approved yet; second, regulatory discrepancies, as some regulatory agencies still dispute whether tokens like SOL are considered securities, which may affect the related approval process; third, the risk of market manipulation, as most altcoins are not as decentralized as BTC and ETH, making the possibility of market manipulation relatively higher.
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