Bloomberg Intelligence analyst Eric Balchunas predicts a high likelihood of approval for spot ETFs on altcoins in the U.S., particularly for Litecoin (LTC) and Solana (SOL). According to his estimates, the probability of their approval is up to 90%. This means that the launch of financial products related to these cryptocurrencies could be possible in the near future, as early as 2025.
This is reported by Business • Media
Cryptocurrency ETF Models and Prospects for Their Approval
According to forecasts, the highest chances of approval are for ETFs based on Litecoin and Solana. Discussions are currently ongoing regarding the U.S. Securities and Exchange Commission’s (SEC) approach to crypto assets operating on various consensus models, such as Proof-of-Work, Proof-of-Stake, and those incorporating staking elements.
“I would be happy to hear directly from Paul Atkins, but all the odds look quite high,” Balchunas noted.
In addition to LTC and SOL, the expert mentioned other crypto assets with high chances of approval: Ripple (XRP) — 85%, Hedera (HBAR) — 80%, Dogecoin (DOGE) — 80%, Cardano (ADA) — 75%, Polkadot (DOT) — 75%, Avalanche (AVAX) — 75%. Final decisions on most SEC applications are expected to be made by fall 2025.
New Applications and Prospects for Token-Based ETF Launches
Alongside discussions about the approval of spot ETFs, the investment firm Canary Capital has submitted an application to the SEC for the launch of a staking ETF for the SEI token. The documentation states that this fund will generate profits from participating in the staking of SEI tokens, with asset custody being managed through Coinbase Custody and BitGo. The launch of such a product could set a precedent for other blockchains with PoS mechanisms.
It is worth noting that the SEC has so far postponed the review of ETF applications based on DOT and HBAR from Grayscale Investments and Canary Capital. Meanwhile, the Nasdaq exchange has submitted a second application for the launch of a Dogecoin ETF from 21Shares.