Things are about to get intense, says Eric Balchunas
The SEC is known for delaying its decisions as long as possible. Given this, if this behavior does not change with the change of the Commission chairman, these new ETF applications should not receive a response until August 2025.
In any case, the simple fact that managers are interested in other cryptocurrencies can cause their prices to skyrocket.
For Eric Balchunas, Bloomberg's ETF specialist, the number of orders is expected to increase in the coming months. Currently, Solana (SOL) and Ripple (XRP) are the ones with the most orders, but baskets with several cryptocurrencies could also gain space in the traditional market.
“Four [ETFs] from Solana, 3 from XRP, 2 conversions and 1 from Litecoin in a pear tree,” wrote Balchunas, playing on an English Christmas song. “A good outlook for the next “twelve months of altcoin ETFs”.”#MarketDownturn $XRP $SOL
“Barring a major crash, things are about to get pretty intense for this emerging category. Don’t be surprised if this list triples in size by the end of January.”
