Bloomberg senior ETF analyst Eric Balchunas stated that unless a major collapse occurs, the altcoin-related exchange-traded funds (ETF) awaiting approval will make crypto “pretty wild.”
He shared that 14 altcoin-related ETFs are awaiting US Securities and Exchange Commission (SEC) approval over the next twelve months, including funds giving exposure to Solana (SOL), XRP, Hedera (HBAR), Litecoin (LTC), baskets of assets , and Bitcoin (BTC) and Ethereum (ETH) at the same time.
Furthermore, Balchunas expects the list of altcoin ETFs to triple in size over the next two months.
Favorable environment
Following President Donald Trump’s victory in the US elections, ETF Store CEO Nate Geraci predicted that several crypto ETFs will hit the market would be mentioned. He stated:
“Suppose several issuers were well prepared for the election results. There is no downside to getting aggressive now.”
Asset managers have registered three new ETF listings since Geraci’s publication. On November 12, Canary Islands capital requested an HBAR ETF, which surprised some market analysts given expectations that issuers would pick more prominent crypto from the 50 largest by market cap.
In addition, Bitwise registered a SOL trust in Delaware on November 21 and five days later, NYSE submitted for mention the asset manager’s mixed BTC and ETH ETF.
Bloomberg ETF analyst James Seyffart believes the SEC will likely approve Solana-related ETFs within two years. However, he added that the current government would “very easily” not recognize these ETFs.
Seyffart emphasized that this had already happened in August when the Cboe removed the 19b-4 form to list VanEck and 21Shares’ Solana ETFs that had been registered in July.
Meanwhile, the Litecoin ETF filed by Canary in October has a higher chance of approval. Alex Thorn, head of research at Galaxy Digital, told earlier CryptoSlate that the LTC launch is often considered fair given the lack of a pre-mine or token sale.
While the SEC’s position remains unclear, Thorn believes the regulator is unlikely to label LTC as a security.
