Bloomberg exchange-traded fund (ETF) analyst Eric Balchunas says 2025 will likely see the approval of many new digital asset ETFs.
In a post on social media platform X, Balchunas says he expects a “wave” of new crypto ETFs next year, potentially in a particular order.
Said Balchunas
“We expect a wave of cryptocurrency ETFs next year, but not all at once. The first will probably be the BTC + ETH combo ETFs, then the Litecoin prob (bc its fork of btc = commodity), then HBAR (bc not labeled security) and finally XRP/Solana (which have been labeled securities in ongoing lawsuits) .
Balchunas shares a note from Bloomberg ETF analyst James Seyffart speculating that Litecoin (LTC) and Hedera (HBAR) ETFs may have better chances of approval than Solana (SOL) and XRP because they are not targeted by the Securities and Exchange Commission (SEC) as so-called unregistered securities.
Ahead of LTC and HBAR products, Seyffart says the next ETFs will likely be Bitcoin (BTC) and Ethereum (ETH) combinations from Hashfex, Franklin Templeton and Bitwise.
“Solana filings were recently rejected, and the Solana and XRP ETFs will have to wait for the new SEC administration to take control before being seriously considered. Even then, complex legal issues surrounding these tokens and others related to their status as securities may need to be resolved. Litecoin, on the other hand, was a fork of Bitcoin and can be considered a commodity by the SEC. The SEC nowhere considers Litecoin or HBAR to be a security.
New issuer Canary is the sole depositor of a Litecoin ETF or HBAR. While we believe both are more likely to be approved than the others, it is unclear whether there is investor demand.”
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