He added that firms engaged in treasury investments in digital assets (DATCO) have reaped huge profits, while many individual altcoins remain relatively weak compared to previous cycles.

“I think alt season has started. […] I mean, these DATCOs are in full swing,” Seyffart emphasized.

Another potential driver, he noted, is the approval of crypto ETF applications in the U.S. Around 10 assets—including Dogecoin, Chainlink, Stellar, Bitcoin Cash, Avalanche, Litecoin, Shiba Inu, Polkadot, Solana, and Hedera—are awaiting SEC approval to be included in exchange-traded funds.

However, the analyst expressed more cautious expectations regarding demand for altcoin ETFs compared to Bitcoin-based products:

“Will there be as much interest as in the launch of Bitcoin funds? Absolutely not.”

In his view, a basket of products including multiple cryptocurrencies will attract significantly more institutional capital than ETFs tied to single assets. Seyffart clarified that investment advisors generally prefer diversification rather than concentrating positions in individual tokens.

In addition, the expert questioned whether future alt seasons will occur in the traditional sense, since market movements are now largely driven by institutions. This structural shift, he argued, could permanently change the growth patterns of cryptocurrencies.