- Bloomberg ETF experts have raised the odds for most crypto ETFs.
- Litecoin and Solana have the highest chances of approval.
- Still, it will be hard to mirror the success of Bitcoin ETFs.
Move over Bitcoin and Ethereum — a new class of crypto exchange-traded funds is poised to hit the market, say influential ETF analysts Eric Balchunas and James Seyffart.
The Bloomberg Intelligence market experts said it’s increasingly looking likely that regulators will green-light new exchange-traded funds.
“Get ready for a potential ‘Altcoin ETF Summer’ with Solana likely leading the way,” said Balchunas on X on Tuesday, adding that a basket of crypto products is also on its way.
Three ETFs
There’s three ETFs with 90% chances of approval, said the experts.
The first may be an ETF that tracks broad crypto indexes, followed by Litecoin and Solana.
But there’s widespread optimism. XRP has an 85% chance of approval, according to Bloomberg Intelligence. Even long-shots such as Cardano, Polkadot, and Avalanche have 75% and 80% chances of making the grade.
In some cases, Polymarket bettors agree with the odds, but in others they are less optimistic. For Litecoin, Polymarket odds are at 76%, while Cardano’s chances of approval land at 64%.
Trump-induced optimism
What’s fuelling the improved optimism?
For the most part, the Trump administration’s pro-crypto policies, which have been bolstered by the president’s family ventures into the space. Just last week his media conglomerate, Trump Media & Technology, filed for a Bitcoin ETF.
Another driver is the performance of Bitcoin ETFs.
Investors have ploughed more than $130 billion into Bitcoin ETFs led by BlackRock’s iShares offering.
Spot Bitcoin ETF holdings are nearing 6% of the Bitcoin network’s total 21 million supply.
Nothing compares
Still, Bitcoin’s popularity doesn’t guarantee success for other crypto ETFs.
Although Ethereum ETFs have notched 16 consecutive days of inflows, the total assets under management of these funds tops $10 billion, according to Coinglass.
That’s not even 10% of the capital that’s held in Bitcoin ETFs.
“Nothing will compare to Bitcoin,” said Balchunas.
Pedro Solimano is a markets correspondent based in Buenos Aires. Got a tip? Email him at psolimano@dlnews.com.
