Litecoin and Hedera ETFs Expected to Launch Before Solana and XRP, Bloomberg Analysts Predict
Bloomberg analysts, including Eric Balchunas and James Seyffart, have speculated that Litecoin and Hedera are likely to see their ETFs approved before Solana and XRP.
Their insights offer a closer look at the evolving landscape of crypto ETFs and why they believe these coins will take precedence.
In a recent post on X, Balchunas shared the team’s forecast that Litecoin and Hedera ETFs are poised for approval ahead of their Solana and XRP counterparts. The analysts anticipate a series of crypto ETF launches next year, though not all at once, with Bitcoin and Ethereum combo ETFs likely to be the first to gain approval. Several firms, including Bitwise, Franklin Templeton, and Hashdex, have already filed for these dual crypto ETFs, which have enjoyed strong success, even surpassing the holdings of Bitcoin’s mysterious creator, Satoshi Nakamoto.
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While Litecoin and Hedera appear to be next in line, Solana and XRP face more significant hurdles, primarily due to legal complications. Seyffart explained that these ETFs may not gain traction until after the next SEC administration takes office, with both Solana and XRP still entangled in regulatory issues. The ongoing Ripple case, with its unresolved status, adds an additional layer of uncertainty for XRP, though some in the crypto community remain optimistic about an XRP ETF.
In contrast, Litecoin and Hedera have not been categorized as securities by the SEC, giving them a clearer path for approval. However, while these projects may have a higher chance of ETF approval, analysts remain cautious about whether there is sufficient market demand for these funds. Currently, only Canary Capital has filed for a Litecoin and Hedera ETF, signaling a lack of broad industry interest in these offerings, while multiple firms, including Bitwise and 21Shares, have sought approval for XRP ETFs and Solana ETFs.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
