While retail plays a funeral march on altcoins, Bloomberg predicts a parade of ETF launches on them in 2025.
Senior ETF analyst #Bloomberg Eric Balchunas (you can read about him through search and draw conclusions about how often he has been right) believes that among the first to launch crypto-ETFs will be altcoins #LTC, #HBAR, #XRP, and #SOL:
«We expect a wave of cryptocurrency ETFs next year, although not all at once. The first ones will likely be combined ETFs of btc + eth, then probably Litecoin (because its fork btc = commodity), then HBAR (because it is not labeled as a security) and then XRP/Solana (which have been labeled as securities in pending lawsuits)…»
Based on Balchunas's post, this is his consensus estimate together with another colleague, ETF analyst #Bloomberg James Seyffart. His estimates on the topic of crypto-ETFs also often 'hit the mark'.
We show how the monthly timeframe charts for all four assets look through the lens of our indicator. All (considering seasonality and the stage of the cycle) have already begun their bull run - in a stable uptrend. Pullbacks and ranges are possible (especially where there is currently a Strong signal of a potential high), but the trend is upward, with targets for new ATHs and peak growth likely in April-July 2025.
SOL in this cycle on the weekly timeframe is generally following a single stable uptrend, significantly outpacing the rest of the market. At the same time, the asset's price is in a stable downtrend on the daily timeframe, which we wrote about on December 11. But since then, the price has not broken the support of EMA 50 on the daily timeframe, separating it from the basic downward targets on this timeframe - $191.35 and $175.97.
