Bloomberg analyst: Altcoin ETF approval is difficult to trigger altcoin market in the traditional sense

On September 5, Bloomberg Exchange Traded Fund (ETF) analyst James Seyffart said that the current market is altcoin market formed by rising prices of digital asset finance companies (DATCOs) rather than traditional tokens. Seyffart notes that institutional investors prefer multi-cryptocurrency portfolio products rather than single alternative token ETFs. Currently, Grayscale and Bitwise’s cryptocurrency basket products are awaiting approval from the Securities and Exchange Commission (SEC). Among them, Bitwise's products contain 10 crypto assets, while Grayscale's products contain 5 cryptocurrencies weighted by market value. He stressed that institutional funds prefer to gain cryptocurrency exposure through regulated products rather than holding tokens directly, and this structural shift could permanently change the upward pattern of altcoins.