Bloomberg Analyst: Next year will see a “wave of cryptocurrency ETF listings,” with SOL and XRP fund

summary： Bloomberg Analyst: Next year will see a “wave of cryptocurrency ETF listings,” with SOL an...

Bloomberg Analyst: Next year will see a “wave of cryptocurrency ETF listings,” with SOL and XRP funds expected to become the focus

Senior Bloomberg analysts Eric Balchunas and James Seyffart predict that 2024 could see a "crypto ETF boom," with funds featuring a broader range of digital assets, such as Ripple (XRP) and Solana (SOL), likely to debut to meet investors' expectations for diversified portfolios.

Eric Balchunas stated on social media platform X (formerly Twitter) on Tuesday:
"We anticipate a wave of crypto ETFs next year, but they won't all launch simultaneously."

Since Donald Trump was elected as U.S. President and SEC Chair Gary Gensler announced his plans to step down, the market has been highly optimistic that the new administration will approve more crypto ETFs.

In James Seyffart's analysis, he highlighted that companies such as Hashdex, Franklin Templeton, and Bitwise are applying for "Bitcoin and Ethereum dual-asset spot ETFs," which are likely to be among the next products approved. He added:
"As for Solana (SOL) and Ripple (XRP) ETFs, these will probably have to wait until the next SEC Chair takes office before entering the review process."

While multiple fund companies have already filed for Solana and Ripple ETFs, Seyffart believes the chances of approval remain slim before Trump assumes the presidency and a new SEC Chair is appointed.

On the other hand, Seyffart noted that Litecoin (LTC) and Hedera (HBAR), which the SEC has not classified as securities, face fewer legal obstacles, potentially increasing the likelihood of their ETF products being approved. However, he admitted, "It’s still unclear whether the investment market has demand for these products."

ETF Store President Nate Geraci suggested that even Dogecoin (DOGE) ETFs might surface next year, while Solana ETFs could gain approval by the end of 2024.

Alexander Blume, CEO of Two Prime Digital Assets, also expressed confidence in the future of crypto ETFs. He stated, "If the issuers weren't highly confident about approval, I don't think they would waste their money and time submitting applications."