Overview

• Bloomberg’s James Seyffart says the current upswing qualifies as an altseason led by Digital Asset Treasury Companies rather than retail-driven token spikes.
• He expects single-asset altcoin ETFs to attract far less interest than Bitcoin ETFs, with institutions favoring diversified, basket-style products.
• Grayscale and Bitwise multi-asset crypto funds remain on procedural stays after initial technical clearances, pending final SEC decisions.
• The SEC/CFTC framework requires six months of CFTC-regulated futures trading, positioning DOGE, LINK, XLM, BCH, AVAX, LTC, SHIB, DOT, SOL and HBAR as early candidates.
• Corporate allocations underscore the shift, with BitMine making back-to-back ETH purchases exceeding $500 million and a Nasdaq-listed BNB holder adding $33 million to reserves.