While the approval of spot Bitcoin and Ethereum ETFs in the US is considered a turning point for BTC and cryptocurrencies, other altcoin ETFs are also expected to be approved.
It was emphasized that the SEC chairman must be changed in order for other ETFs to be approved by the near future, and SEC Chairman Gary Gensler stated that he will resign.
At this point, while the best-case scenario for Solana (SOL) and Ripple (XRP) ETFs to be approved is 2025, the Bloomberg analyst shared a timeline for spot altcoin ETF approval.
Bloomberg ETF analyst James Seyffart noted that as regulatory discussions gain momentum in the US, decisions on altcoin ETFs could be delayed until the end of 2025 depending on various factors.
Seyffart noted in a recent interview that he may have to wait until late 2025 to gain approval for spot ETFs for altcoins such as Solana (SOL), Ripple (XRP), Litecoin (LTC), and Hedera (HBAR).
Seyffart noted that unlike spot Bitcoin and Ethereum ETFs, these altcoins do not have a regulated futures market on the Chicago Mercantile Exchange (CME).
At this point, Seyffart said that the current environment regarding altcoin ETFs is still somewhat uncertain due to previous decisions made by the SEC.
“The main reason why Bitcoin and Ethereum ETFs were approved was because of the CME-regulated futures markets,” the analyst said, adding that since most altcoins, including SOL and XRP, do not have regulated futures markets, this could slow down the ETF approval process.
Seyffart stated that although spot ETF applications have been filed for SOL, XRP, and HBAR, current regulations do not allow them to be launched, and added that the new SEC leadership in 2025 could be more cryptocurrency-friendly, which could allow other ETFs to be approved and the staking feature to be added to ETFs.
*This is not investment advice.
