A new analysis from Bloomberg suggests that Litecoin (LTC) and Hedera (HBAR)-based ETFs are likely to gain regulatory approval faster than ETFs tied to Solana (SOL) and XRP. In the report, analysts Eric Balchunas and James Seyffart explain that Litecoin and Hedera have a clearer regulatory position, while Solana and XRP face significant legal challenges.
### Phased Approvals for Crypto ETFs
- **Sequence of Approvals**: Analysts predict that the SEC will approve Bitcoin and Ethereum ETFs first, before moving on to Litecoin and Hedera.
- **Challenges for Solana and XRP**: XRP’s legal status remains unclear due to the ongoing legal battle between Ripple Labs and the SEC, which questions whether the token meets the criteria for a security. Solana faces similar ambiguity, complicating the prospects of its ETF launch.
### Regulatory Clarity for Litecoin and Hedera
Litecoin and Hedera are not classified as securities by the SEC, which makes their regulatory review process smoother. However, despite the higher chances of approval, the market demand for products related to these assets is still uncertain. Currently, only Canary Capital has filed for an ETF for Litecoin and Hedera, indicating a lack of confidence in the demand for these products.
### Current Price Movement
- **Litecoin (LTC)**: Currently trading at $123.98, posting a 5.02% increase in the last session. There is a key resistance at the $130 level, and if it manages to break through this level, LTC could move towards $150 and $200.
- **Hedera (HBAR)**: Trading at $0.2836 with a daily gain of 0.21%. HBAR has shown significant growth, with a 260.7% increase in a year. Resistance is at $0.29, and if it manages to break this level, the price could rise towards $0.35.