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According to Odaily, Bloomberg ETF analyst James Seyffart has outlined a potential timeline for the approval of ETFs for altcoins such as SOL, XRP, LTC, and HBAR. As discussions around U.S. regulations continue, Seyffart anticipates that decisions regarding these altcoin ETFs could extend into late 2025, contingent on various factors.Seyffart notes that the current environment for altcoin ETFs remains somewhat unclear due to previous decisions made by the U.S. Securities and Exchange Commission (SEC). Bitcoin and Ethereum ETFs have been approved primarily because of their connection to the CME-regulated futures market. However, many altcoins, including SOL and XRP, lack a regulated futures market, which could slow down the approval process for their ETFs. He stated, "Without a significant regulated market, the SEC has historically rejected altcoin ETF applications." Seyffart also mentioned that new SEC leadership in 2025 might alter these guidelines, but the timeline for approval remains uncertain.Seyffart further highlighted that despite recent applications for an XRP ETF by companies like WisdomTree and 21Shares, current regulations do not permit their listing. Issues that need to be addressed before such products can be listed include market manipulation, custody, and compliance concerns.

The global cryptocurrency market cap now stands at $3.19T, down by 5.64% over the last day, according to CoinMarketCap data.Bitcoin (BTC) has been trading between $92,326 and $98,752 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $93,556, down by 5.20%.Most major cryptocurrencies by market cap are trading lower. Market outperformers include OG, GLM, and PSG, up by 28%, 23%, and 22%, respectively.Top stories of the day:Bloomberg Analyst Reveals Potential Timeline for Approval of SOL, XRP, LTC, and HBAR ETFsWisdomTree Registers XRP ETF in DelawareDogecoin Options Reach Record High Amid Market SpeculationNature's Miracle Holding Inc. Expands into Bitcoin MiningSEC Reports Record $8.2 Billion in Penalties for 2024CME FedWatch Tool: 56.2% Probability of Fed Easing by DecemberTokenized U.S. Treasury Market Reaches $2.5 Billion, RWA Assets Surpass $13 BillionMarket movers:ETH: $3382.99 (-1.81%)SOL: $235.89 (-7.59%)BNB: $630.64 (-6.13%)XRP: $1.3992 (-7.10%)DOGE: $0.39149 (-9.94%)ADA: $0.9478 (-11.00%)TRX: $0.1961 (-7.24%)AVAX: $40.74 (-13.74%)TON: $6.065 (-2.37%)SHIB: $0.00002454 (-5.98%)