The launch of the first spot Ether exchange-traded funds (ETFs) has opened the floodgates for more crypto exchange-traded products, including a potential Solana-based ETF.

The imminent launch of the first batch of spot Ether (ETH) ETFs will pave the way for more crypto ETFs, according to Eric Balchunas, a senior ETF analyst at Bloomberg.

The analyst expects more products based on Ether and Solana (SOL), he wrote in a July 15 X post:

“Keep in mind after launch there are flows and then add'l ETH products I'm sure, then Solana, and then... it's probably never going to end. The dam has broken.”

Balchunas is one of the most trusted ETF analysts for both legacy and digital asset-based ETFs.

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First spot Ether ETFs could start trading on July 23

The first spot US Ether ETFs could start trading as soon as July 23, after the United States Securities and Exchange Commission (SEC) reportedly delivered final instructions to asset managers.

According to Balchunas, the Commission instructed issuers to submit their final S-1 filings by July 16, targeting a launch for the new funds on July 23. The final filings must include the fees issuers plan to charge in their new crypto funds.

On May 23, the agency approved issuers' 19-b form proposing rule changes that would allow the crypto-based investment vehicles. Asset managers now need approval for their initial securities registration S-1 forms.

The upcoming Ether ETFs could contribute to Ether’s price appreciation, which has been in an over one-month downtrend from the end of May.

Ether price reversed from its month-long downtrend on July 8, after forming a local bottom just above the $2,800 mark, according to CoinMarketCap data.

Related: BlackRock surpasses $10.6T record AUM boosted by ETF inflows

Combined crypto ETFs are “100%” on the way: Balchunas

Following the launch of the first ETH ETFs, we could see the debut of ETFs with exposure to multiple cryptocurrencies.

This is “100%” a possibility, wrote Balchunas, after being asked about the likelihood of asset managers filing for ETFs with mixed Bitcoin and Ether exposure:

“100%. They’re gonna go full Frankenstein.”

How ETFs are reshaping the crypto markets. Source: Cointelegraph

As for the Ether-based ETFs, analysts predict that Ether ETFs could garner significant interest from investors, attracting up to $10 billion in new inflows in the months following the launch.

Magazine: Ether ETFs on the move, Messi promotes memecoin, and more: Hodler’s Digest, July 7-13