Bloomberg senior analysts Eric Balchunas and James Seyffart expect that next year may see a 'rush of cryptocurrency ETF listings', with more varieties of digital asset funds like Ripple (XRP) and Solana (SOL) coming to market, meeting investors' expectations for diverse allocations.
Eric Balchunas posted on social media platform X on Tuesday, highlighting:
We believe that a wave of cryptocurrency ETFs will emerge next year, but they will not all be listed at once.
Since Donald Trump was elected President of the United States and SEC Chairman Gary Gensler announced his resignation, the market has high expectations that the new administration will approve more cryptocurrency ETFs.
Analysis by James Seyffart pointed out that companies such as Hashdex, Franklin Templeton, and Bitwise are applying for a dual-asset spot ETF for 'Bitcoin and Ethereum', which is expected to be the next wave of approved products. He added that:
As for the Solana (SOL) and Ripple (XRP) ETFs, they may have to wait until the new SEC chairman takes over before officially entering the review process.
Although several fund companies have applied to withdraw their Solana and Ripple ETF applications, the chances of these products passing review are low before Trump assumes the presidency and the new SEC chairman takes office.
On the other hand, James Seyffart stated that although Litecoin (LTC) and Hedera (HBAR) have not been classified as securities by the SEC, the legal barriers are lower, and the chances of relevant ETF products being approved are slightly higher. However, he also admitted: 'It is currently uncertain whether there is demand in the investment market for these products.'
Earlier reports indicated that Nate Geraci, president of ETFStore, suggested that even applications for a Dogecoin (DOGE) ETF could surface next year, while a Solana ETF is expected to pass review by the end of next year.
Alexander Blume, CEO of Two Prime Digital Assets, also expressed confidence in the prospects of cryptocurrency ETFs, stating: 'If there wasn't a strong belief in passing the approval process, I don't think issuing organizations would waste funds and time submitting applications.'
