The SEC is currently extending the process for altcoin ETFs, such as XRP and Solana (SOL), which are awaiting approval by making postponement decisions.
Experts believe that the likelihood of altcoin ETFs being approved in the last quarter of the year is high, while the SEC has announced approval standards for cryptocurrency ETPs.
Bloomberg senior ETF analyst Eric Balchunas stated in his post that the SEC has announced new rules summarizing the general listing standards for cryptocurrency ETPs.
According to this, all altcoins that have been traded on Coinbase's derivatives exchange for more than six months will be eligible for an ETP.
"The key point is that if a specific token has been traded as a futures product on the Coinbase Derivatives Exchange for more than six months, an ETP based on that coin could be approved."
Eric Blachunas stated that the SEC's new rules could greenlight a dozen major altcoin ETFs by autumn.
Balchunas, noting that around 12 altcoins currently meet SEC rules, reminded that Bloomberg has given approval rates of 85% or higher for most of these altcoins.
The analyst, while keeping the timing uncertainty for the approval of these 12 altcoin ETFs, pointed to September or October as a possible timeframe. The analyst also shared an image of the eligible altcoins currently listed on Coinbase derivatives.
According to the table, the eligible altcoins for ETFs that could be approved, aside from Bitcoin and Ethereum, include Litecoin (LTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Polkadot (DOT), Shiba Inu (SHIB), Avalanche (AVAX), Chainlink (LINK), Stellar (XLM), Solana (SOL), Hedera (HBAR), Cardano (ADA), and XRP.
