Bloomberg ETF analyst James Seyffart stated that the current market has entered the "alt season," but not in the way of previous years dominated by the big pump of a single Token's price. Instead, it is realized through Crypto Assets treasury companies (DATCO), and the upcoming wave of ETF approvals is unlikely to replicate Bitcoin's institutional-level success. Seyffart believes that a composite ETF containing multiple Crypto Assets will be more attractive than a single alt ETF and can attract more institutional capital inflow. Seyffart emphasized that institutional funds prefer to gain exposure to Crypto Assets through regulated products rather than directly holding Tokens, and this structural shift may permanently alter the rising patterns of alts. (Cryptoslate)