Bloomberg Intelligence Senior ETF Analyst Eric Balchunas
On Wednesday, Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, stated on social media platform X that we should prepare for the potential “Summer of Altcoin ETFs,” with the Solana ETF and several combination fund products likely to be among the first approved.
Balchunas’s analysis is based on an earlier report by another Bloomberg analyst, James Seyffart. Seyffart believes that Solana ($SOL) may become the next cryptocurrency to “undergo the spot ETF baptism,” and that ETFs tracking a broad cryptocurrency index may also receive approval from the U.S. Securities and Exchange Commission (SEC) within the next month.
Seyffart wrote, “The agency (SEC) may also take action early on applications for the Solana spot ETF and staking ETF in response to Rex-Osprey’s attempts to launch Solana and Ethereum staking products through regulatory and legal loopholes. Currently, seven issuers have submitted applications for the Solana spot ETF.”
Seyffart also made predictions regarding the approval of all spot ETFs. He believes that the probability of approval for combination cryptocurrency ETFs, Solana, and Litecoin ETFs this year is 90%; for XRP ETFs, it is 85%; for Dogecoin and Hedera ($HBAR) ETFs, it is 80%; and for Cardano ($ADA), Polkadot ($DOT), and Avalanche ($AVAX), it is 75%.
Source: James Seyffart
Related Reports
“Is the Solana ETF Coming? SEC Asks Issuers to Update Documents, Including Staking and Physical Redemption” “New SEC Head Paul Atkins Officially Assumes Office, Over 70 Cryptocurrency Fund Applications Awaiting Review”
