Prominent analysts in the field have expressed significant optimism about alternative currency ETFs, expecting that eight different applications have chances ranging from 90% to 95% of receiving approval from the U.S. Securities and Exchange Commission.
The involved assets include Litecoin, Solana, $XRP , $DOGE , Cardano, Polkadot, $HBAR , and Avalanche. They are also optimistic about basket-linked ETFs, but they believe that the chances for #SUI are only 60%.
Is the season for alternative currency ETFs approvals?
Since the first Bitcoin ETFs emerged, cryptocurrencies have changed irreversibly. This initial offering was a long and difficult battle, but enthusiasts hoped that Bitcoin would open the floodgates.
The new leadership at the U.S. Securities and Exchange Commission has inspired a flood of applications for alternative currency ETFs, and two analysts at Bloomberg believe that many of them are almost certain to succeed:
Their top picks for alternative currency ETFs include all the classic contenders like Solana and Ripple. The concerned analysts, James Seifart and Eric Balchunas, have been tracking this race for months.
They previously selected Litecoin as the top contender, but the competition is now among these three assets.
Five other alternative currencies are slightly less likely to win approval. They assigned a 60% chance to SUI due to its uncertain status as a commodity, and they did not rate TRON. Commentators inquired about many other filings, but they only considered proposals that included active filings under Form 19b-4.
So, why are they so optimistic? After all, the U.S. Securities and Exchange Commission is delaying alternative currency ETF applications on all fronts. The important thing is that the commission is responding purposefully to these proposals.
The anti-SEC led by Gary Gensler tried to ignore the filings for as long as possible, but the commission now acknowledges them immediately.
Even if it cannot move as fast as the sector would like, the U.S. Securities and Exchange Commission still shows encouraging signs. Seifart speculated that final approval could come in July or October. In either case, he believes it will happen in 2025.
Fortunately, the community has been understanding of these setbacks. For example, the common confidence in the success of the XRP ETF has risen to 98% earlier this month despite the SEC's delays.
It now seems that industry experts are looking at alternative currency ETFs with similar optimism. We hope that the first approvals will come in the near future.
However, these optimistic forecasts may not immediately translate into profitable investment opportunities. By June 2025, Bitcoin ETFs will account for 90% of the sector. Even if all eight of these funds receive approval, Bitcoin may continue to dominate market share.
