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Next Crypto ETFs: Potential Candidates and Market Outlook
After the landmark approval of Bitcoin spot ETFs in 2023–2024 (e.g., BlackRock’s IBIT, Fidelity’s FBTC), attention has shifted to which cryptocurrencies might follow. Here’s an analysis of the most likely candidates and factors influencing their approval:
Top Contenders for Future Crypto ETFs
1. Ethereum (ETH)
- *Status*: The SEC approved *Ethereum spot ETFs* in May 2024, with trading expected to begin in July 2024. Major firms like BlackRock, Fidelity, and VanEck are leading the charge.
- Catalyst: Regulatory clarity post-Bitcoin ETFs and Ethereum’s transition to proof-of-stake (PoS).
2. Solana (SOL)
- Why It’s Likely:
Institutional interest surged after VanEck filed for a *Solana ETF* in the U.S. (June 2024).
High throughput and low fees make it a favorite for decentralized apps (dApps).
Hurdles: SEC’s classification of SOL as a security (ongoing debate).
3. XRP (Ripple)
Potential: A court ruling in 2023 declared XRP is not a security in retail sales, boosting its case.
Challenges: Ongoing SEC lawsuit and regulatory uncertainty.
4. Multi-Asset ETFs
Products bundling Bitcoin, Ethereum, and other top cryptos (e.g., Bitwise 10 Crypto Index Fund).
Already available in Europe (e.g., 21Shares’ “Crypto Basket” ETFs).
5. Meme Coins (Dogecoin, Shiba Inu)
Unlikely in the short term due to volatility and regulatory skepticism, but DOGE futures ETFs are under discussion.
Key Factors Driving ETF Approvals
1.Regulatory Clarity: The SEC’s stance on whether a crypto is a security (e.g., Ethereum’s status is clearer than Solana’s).
2.Market Demand: Institutions push for ETFs tied to assets with large market caps and liquidity.
3.Political Landscape: A crypto-friendly U.S. administration post-2024 elections could accelerate approvals.
4.Custody Solutions: Secure storage infrastructure (e.g., Coinbase Custody for Bitcoin/ETH ETFs).
