Litecoin Charges Ahead, Solana Skyrockets, XRP Holds Steady: Altcoin ETFs Poised to Shake Up Wall Street
Wall Street's next gold rush? Altcoin ETFs are knocking—and this time, they're not just Bitcoin's sidekicks.
Litecoin's leading the pack with institutional whispers growing louder. Meanwhile, Solana's parabolic surge has traders scrambling—proof that memecoins aren't the only game in town.
XRP's playing the waiting game, but don't mistake patience for lack of ambition. The sleeping giant's legal clarity could make it the dark horse of the ETF race.
Traditional finance dinosaurs are already sweating—nothing disrupts like regulated crypto exposure with 1-click convenience. Just don't expect them to admit they're late to the party... again.
The crypto world might be gearing up for its next big moment and this time, it’s not just Bitcoin or ethereum at the center of attention. According to Bloomberg’s ETF analyst James Seyffart, altcoin ETFs could be on the way, possibly as early as this summer.
On The New Era Finance Podcast, he discussed the future of crypto-based exchange-traded funds and how the U.S. Securities and Exchange Commission (SEC) is now moving faster than before.
Litecoin Could Be First in Line
When asked which altcoin might launch first as an ETF, Seyffart pointed to Litecoin. “It’s the easiest one,” he said, explaining that Litecoin is clearly a commodity and has a strong market presence. He added that under a different SEC administration, it might have already been approved.
While a launch within 3 to 5 weeks isn’t the most likely scenario, Seyffart says it could happen. The SEC is actively working on a framework to define what qualifies for an ETF, which WOULD be a major shift from how things were done before.
Which Altcoins Are in the Running?
So far, ETF applications have been filed for more than 10 major cryptocurrencies. This includes Solana, Cardano, XRP, Avalanche, Polkadot, Tron, and of course, Litecoin.
Seyffart says he and fellow Bloomberg analyst Eric Balchunas are “very confident” that some of these ETFs will be approved this year. Most final SEC deadlines fall around October, but approvals could come earlier depending on how fast the agency moves.
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One open question: Will the SEC approve them all at once, like it did with Ethereum ETFs? Or will it go with a “first to file, first to launch” approach?
How ETF Odds Are Set and Why They Matter
Seyffart also addressed how he and his team assign approval probabilities like 90% for Litecoin and Solana, and 75% for Avalanche. These aren’t just guesses. They look at factors like trading volume, market cap, whether the coin trades on U.S. exchanges, and whether it has a regulated futures market.
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FAQs
When could the first altcoin ETF launch?Altcoin ETFs may arrive as early as summer 2024, with SEC deadlines around October, though Litecoin could see approval within 3–5 weeks if momentum builds.
How does the SEC decide which altcoin ETFs to approve?The SEC evaluates trading volume, U.S. exchange listings, futures markets, and commodity classification. Litecoin’s simplicity gives it an edge over others.
Will altcoin ETFs boost crypto prices?Yes, ETF approvals could trigger bullish momentum for altcoins, similar to Bitcoin’s 2023 ETF surge, by increasing institutional investment and mainstream adoption.
