Crypto bill, stablecoins, new ETPs to drive Q4 crypto returns
Analysts predict that crypto prices may rise in the fourth quarter due to new U.S. crypto market structure legislation, stablecoins, and an influx of exchange-traded products (ETP). Research by Grayscale indicates that comprehensive financial services legislation could facilitate greater integration of digital assets with traditional finance. The SEC’s approval of commodity-based ETPs is expected to attract more investments as it increases crypto asset accessibility for U.S. investors. Additionally, expected rate cuts from the Federal Reserve post-September 17 may benefit crypto assets. Edward Carroll from MHC Digital Group anticipates stablecoins to drive returns, given that legislation aimed at clear rules for payment stablecoins awaits final regulations. Analyst Pav Hundal reported that a Bitcoin rally could boost altcoin performance, as funds increasingly contribute to crypto markets. Meanwhile, Henrik Andersson from Apollo Crypto foresees potential ETF approvals and a focus on revenue-generating projects in DeFi. Despite some skepticism about further rate cuts, the overall sentiment is positive for digital assets in Q4.
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