As a seasoned researcher with a penchant for deciphering financial trends, I find Eric Balchunas’ predictions intriguing. His insight into the upcoming surge of cryptocurrency ETFs next year aligns with my own observations. The anticipated launch of Bitcoin (BTC) and Ethereum (ETH) combo ETFs, followed by HBAR and XRP/Solana, seems plausible given the growing interest in digital assets.
According to Bloomberg’s senior ETF analyst, Eric Balchunas, it’s predicted that there will be an influx of cryptocurrency-based exchange-traded funds (ETFs) coming onto the market in the upcoming year.
In a recent post on X, Balchunas referred to Bloomberg analyst James Seyffart, highlighting that the initial launches of ETFs will feature a combination of Bitcoin (BTC) and Ethereum (ETH), followed by HBAR. After these, potential candidates for future releases may include XRP and Solana, which are currently involved in ongoing lawsuits regarding their classification as securities.
In a different tweet from last month, the analyst disclosed that 14 exchange-traded funds focusing on altcoins are currently under consideration by the SEC over the next year. Among these potential additions are Solana (SOL), XRP, Hedera (HBAR), Litecoin (LTC), as well as combined Bitcoin-Ethereum choices. He even suggested that within the following two months, there could potentially be three times more applications for altcoin ETFs submitted.
The proposed listing of these ETFs hinges on the political climate, which became more uncertain following Donald Trump’s win in the U.S. election. Nate Geraci, CEO of ETF Store, stated that “Given that many issuers were well-prepared for the election outcome, there’s no disadvantage to being proactive now.
Over the past few weeks, following Geraci’s perspective, there have been three significant ETF proposals:
James Seyffart believes that Solana ETFs might receive approval within the next couple of years, but he remains cautious due to the possibility that such approvals could be denied by the government. He pointed out that a similar scenario unfolded last August when CBOE withdrew applications for VanEck and 21Shares’ Solana ETFs.
It appears that Canary Capital’s ETF proposal for Litecoin, submitted in October, might be approved. As per Alex Thorn, Head of Research at Galaxy Digital, Litecoin is considered a stronger candidate because it is a fork of Bitcoin and was not pre-mined or sold during an initial token sale. This makes Litecoin seem fairer to regulators.
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2024-12-17 23:50