Major altcoins experienced a significant rise on Monday

Monday marked another day in the ongoing cryptocurrency rally. As usual, some of the more popular altcoins surged alongside the top crypto investments.

During the late afternoon trading on Monday, some cryptocurrencies were doing well. XRP (CRYPTO: XRP) had risen by 17% compared to the previous Friday at 4 p.m. ET. NEAR Protocol (CRYPTO: NEAR) had gained 14%, Toncoin (CRYPTO: TON) had increased by 17%, and Avalanche (CRYPTO: AVAX) was up by 15%. Chainlink (CRYPTO: LINK) also stood out with an almost 20% increase.

The ongoing rise in Bitcoin prices

The surge in cryptocurrencies is easily understood. Investors are showing strong interest in spot Bitcoin exchange-traded funds (ETFs), which have become popular securities recently. It's not unexpected that these instruments allow investors to hold Bitcoin without the complexities of direct ownership, such as managing a dedicated digital wallet.

Bitcoin has experienced significant growth recently, resembling a skyrocketing asset. On Monday, the price surged to a new record high, just below $73,000. The amount has increased by almost $30,000 since the beginning of this year.

There is no sign of slowing down soon as the spot ETF trend rapidly gains popularity. On Monday, the London Stock Exchange (LSE) revealed its plan to begin accepting applications for exchange-traded notes (ETNs), which are similar to ETFs but trade more like debt instruments.

According to the LSE, applications for the ETNs will begin to be accepted in the second quarter of this year. Bitcoin or the leading altcoin, Ether, can back the ETNs.

There may be notable restrictions on investing in Bitcoin and Ether ETNs, as the U.K. regulator, the Financial Conduct Authority, promptly announced that they will only be accessible to professional investors such as accredited investment firms and credit institutions.

Exploring global crypto investments

Determined investors in the U.K. market will likely find a way to acquire crypto ETNs, even if ownership limits are imposed. As in the U.S., demand is expected to be robust and compelling.

This is why we expect the crypto ETF/ETN craze to expand into other markets. Despite the U.K.'s exit from the European Union, its finance industry continues to lead the way in Europe. Investors from around the globe are likely to be just as enthusiastic about investing in these popular new instruments.

Is investing $1,000 in XRP a wise decision at this moment?

Investors should carefully evaluate XRP before making a purchase.

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