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The concept of “altcoin season” in the cryptocurrency market is evolving. Ki Young Ju, CEO of CryptoQuant, asserts that not all altcoins will yield profits this year; only robust projects are expected to provide returns. Consequently, altcoins lacking ETF support, hype, and sustainable revenue models are predicted to lag behind.
ETFs and Institutional Interest Will Drive the Market
Ju anticipates a future where the altcoin market is steered by institutional investors. Following the introduction of spot Bitcoin 
$106,719 ETFs in the U.S., discussions are underway regarding the potential approval of similar ETFs for various altcoins. Indeed, Bloomberg analysts James Seyffart and Eric Balchunas foresee a 90% chance of approval for a spot Litecoin ETF, a 75% chance for a spot Dogecoin 
$0.178154 ETF, a 70% chance for a spot Solana 
$157 ETF, and a 65% chance for a spot XRP ETF.
Moreover, Donald Trump’s support for cryptocurrencies and Franklin Templeton’s application for a spot Solana ETF could expedite this process. Preparations for the world’s first spot XRP ETF are already underway in Brazil.
Widespread Altcoin Rallies Become a Thing of the Past
Unlike past cycles where all altcoins surged simultaneously, this year is expected to see only selected projects thrive. While Bitcoin is reaching all-time highs, many altcoins remain far from their previous peaks. Last week, there was a $571 million outflow from Bitcoin, while XRP saw a $38.3 million inflow, indicating a selective approach from investors.
Ethereum 
$2,629 and Solana are attracting attention with strong price movements, but low-volume altcoins are under pressure. Ju pointed out that the market is now in a “PvP battle,” emphasizing that current capital is merely shifting between existing assets rather than new capital entering the market. This suggests that institutional players have taken over, making it difficult for individual investors to drive significant rallies as they did before.
Ju concluded with advice for investors to focus exclusively on reliable projects, reiterating that even if an “altcoin season” occurs this year, only the strong ones will stand out.
