Eric Balchunas is an analyst at Bloomberg who specializes in exchange-traded (ETFs). He says there will be many new ETFs for digital assets approved by 2025.
It is a post Balchunas, a social media user on X says he is anticipating a lot of things. “wave” New crypto ETFs could come out in an orderly fashion next year.
Says Balchunas
“We expect a wave of cryptocurrency ETFs next year, albeit not all at once. First out is likely the BTC + ETH combo ETFs, then prob Litecoin (bc its fork of btc = commodity), then HBAR (bc not labeled security) and then XRP/Solana (which have been labeled securities in pending lawsuits).”
Balchunas shares a Bloomberg ETF analyst James Seyffart’s note speculating Litecoin will (LTCHederaHBARETFs could have a higher chance of getting approved by the EU than Solana.SOL( XRP The Securities and Exchange Commission of the United States (SEC), which is responsible for regulating securities, has not targeted these companies as alleged unregistered security.
Seyffart believes that Bitcoin ETFs are likely to be the next products before LTC or HBAR.BTC) and Ethereum (ETHCombinations from Hashfex and Bitwise.
“Solana’s filings have been rejected and Solana as well as XRP ETFs must wait until the SEC takes over control to be seriously considered. The SEC may still need to resolve complex legal issues relating to these tokens, as well as others related to their status of securities. Litecoin was a Bitcoin fork and could be viewed as a commodity by the SEC. The SEC doesn’t call Litecoin and HBAR securities anywhere.
Canary, a new issuer, is the sole filer of an ETF for Litecoin and HBAR. “We think that both have better odds of approval than the others, but it is not clear whether or not there will be investor demand.”
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