Bloomberg: Solana Could Kick Off an "Altcoin ETF Summer"
ETF market analysts at Bloomberg predict a wave of approvals for spot altcoin ETFs, similar to those currently available for Bitcoin and Ethereum. According to their estimates, the likelihood of a Solana-based ETF being approved stands at 90%, the same as for Litecoin. XRP's approval probability is pegged at 85%.
Analyst James Seyffart notes that the U.S. SEC has received ETF applications for Dogecoin (80% approval chance), Cardano, Polkadot, and Avalanche (75% each), as well as SUI (60%). TRON’s review has not yet begun, with a deadline set for 2026.
Seyffart and his colleague Eric Balchunas previously accurately predicted the approval and launch of spot Bitcoin ETFs in 2024. Balchunas himself wrote on X that an "Altcoin ETF Summer" should be expected.
According to Blockworks, the SEC has requested updated documents from companies seeking to launch a Solana ETF, including amendments on fund redemption mechanisms and staking. This is part of the bureaucratic process, and a decision could be issued within 30 days, meaning a Solana ETF could be approved as early as July.
Spot ETFs purchase and hold cryptocurrency on behalf of clients when issuing new shares, backing each share with the asset. This allows investors to gain exposure to crypto through traditional stock markets without direct ownership, creating additional market demand.
