A wave of new cryptocurrency exchange-traded funds (ETFs) is expected to hit the market in 2025, according to Bloomberg's senior ETF analyst Eric Balchunas. The anticipated launches come amid growing institutional interest and an evolving regulatory landscape.
According to Balchunas, Bitcoin and Ethereum combination ETFs are likely to lead the charge, followed by Hedera (HBAR) products. XRP and Solana ETFs may face longer approval timelines due to ongoing securities-related lawsuits.
The analyst revealed that 14 altcoin-related ETFs are currently awaiting SEC approval within the next 12 months. These include standalone products for Solana, XRP, Hedera, Litecoin, and combined BTC-ETH offerings. The number of applications could potentially triple within two months.
Recent filings showcase growing industry momentum:
- Canary Capital filed for an HBAR ETF on November 12
- Bitwise submitted a Solana trust filing in Delaware on November 21
- NYSE proposed listing for Bitwise's combined BTC-ETH ETF
The political environment may impact approval timelines. With Donald Trump's electoral victory and the potential appointment of pro-crypto former SEC commissioner Paul Atkins, the regulatory landscape appears more favorable for crypto ETFs.
Litecoin ETFs may see faster approvals compared to other altcoins. Alex Thorn, Head of Research at Galaxy Digital, notes that Litecoin's status as a Bitcoin fork without pre-mining or token sales makes it more appealing to regulators.
While Solana ETF prospects remain uncertain after CBOE withdrew previous applications from VanEck and 21Shares, analysts expect clearer pathways for approval under new SEC leadership in 2025.
The surge in ETF applications reflects growing institutional interest in diversifying crypto investment options. Industry experts suggest issuers are increasingly confident about eventual approvals, demonstrated by their willingness to invest resources in the application process.
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