The cryptocurrency market is abuzz with anticipation as the US Securities and Exchange Commission (SEC) considers approving Exchange-Traded Funds (ETFs) for several altcoins. Bloomberg ETF analyst Eric Balchunas predicts that the summer months could be the "Altcoin ETF approval season".
Top Contenders for ETF Approval
Solana ($SOL ): With a 90% probability of approval, Solana is likely to lead the pack, according to Balchunas. Its strong performance and growing adoption make it an attractive option for investors.
Litecoin ($LTC ): Also with a 90% probability of approval, Litecoin is another strong contender for ETF approval.
XRP: With an 85% probability of approval, XRP is a close third. ETF Store President Nate Geraci believes Grayscale's multi-asset fund containing XRP and Cardano could receive approval before Solana ETFs.
Dogecoin: With an 80% probability of approval, Dogecoin is another popular altcoin potentially getting an ETF.
Grayscale's Multi-Asset Fund
Grayscale's Digital Large Cap (GDLC) Fund, comprising Bitcoin, Ethereum, XRP, Solana, and Cardano, might receive approval before individual Solana ETFs. This fund is available only to accredited investors and includes the same cryptocurrencies listed for the US Strategic Bitcoin Reserve.
Impact on the Market
Approval of altcoin ETFs could significantly boost the cryptocurrency market, increasing liquidity, accessibility, and price stability. Bloomberg analysts estimate a 90% chance of at least some altcoin ETF products being approved, potentially leading to a surge in investment and adoption.
Upcoming Decisions
The SEC is expected to rule on several ETF applications, including :
Franklin Templeton's XRP ETF: June 17, 2025
ProShares XRP ETF: June 25, 2025
As the cryptocurrency landscape evolves, investors are eagerly awaiting the SEC's decisions on these ETF applications. Will Solana lead the charge, or will Grayscale's multi-asset fund get the nod first? Only time will tell.
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