Bloomberg’s senior ETF analyst, Eric Balchunas is expecting a surge of cryptocurrency exchange-traded funds (ETFs) to hit the market next year.
In a post on X, tagging Bloomberg analyst James Seyffart, Balchunas discussed the upcoming ETFs, noting that Bitcoin (BTC) and Ethereum (ETH) combo ETFs will be the first to launch followed by HBAR and “then XRP/Solana (which have been labeled securities in pending lawsuits).’
Eric Balchunas predicts a surge in crypto ETFs for 2025 | Source: X
In a separate tweet shared by the analyst last month, he revealed that 14 altcoin-related ETFs are currently awaiting approval from the SEC within the next 12 months. He mentioned Solana (SOL), XRP, Hedera (HBAR), Litecoin (LTC), and combined BTC-ETH options. He went as far as saying that in two months’ time, the number of applications for altcoin ETFs could actually triple.
Eric Balchunas reveals 14 altcoin ETFs awaiting SEC approval | Source: X
However, the planned listing of these ETFs depends on the potentially political environment. Following Donald Trump’s victory in the U.S. election. Nate Geraci, the CEO of ETF Store, said “Assume multiple issuers were well-prepared for election results. No downside to getting aggressive now.”
Since Geraci’s outlook, three important ETF filings have come up. On November 12, Canary Capital filed for an HBAR ETF, Bitwise filed a SOL trust in Delaware on November 21, and NYSE proposed to list Bitwise’s combined BTC and ETH ETF five days later.
James Seyffart thinks that in a couple of years, Solana ETFs could get the green light, but he is cautious. He said this government can easily say no to such ETFs, referring to last August when CBOE withdrew applications for VanEck and 21Shares’ Solana ETFs.
Meanwhile, Litecoin’s ETF filing by Canary Capital in October seems more likely to pass. According to Alex Thorn, Head of Research at Galaxy Digital, Litecoin is a more prominent choice because it’s a fork of Bitcoin and has no pre-mine or token sale, which means it’s perceived as more of a fair asset by the regulators.
