David LaValle: Exchange-traded funds based on altcoins will become commonplace in two to three years

According to a representative of the investment firm Grayscale, exchange-traded funds (ETFs) based on digital assets other than Bitcoin and Ethereum are expected to debut in the medium term, rather than by 2024.

During a discussion on ETFs and digital assets organized by the New York Stock Exchange (NYSE), David LaValle stated that this timeline would likely span over the next two to three years.

Joining the conversation was Bitwise Asset Management Investment Director Matt Hougan, who agreed that spot ETFs for Ethereum would be launching in the near future. However, the launch of new ETFs based on a wider range of virtual assets would require some patience.

Simeon Hyman, the head of the investment strategy department at ProShares, also supported David LaValle’s statement. Hyman believes that ETFs for alternative cryptocurrencies will soon hit the market, expressing that the industry is currently entering a new era for cryptocurrency asset ETFs.

Grayscale had previously announced the upcoming launch of a “dynamic income fund” (GDIF), which will primarily focus on investing in proof-of-stake virtual assets.