It's almost certain that altcoin ETFs will be approved. At this point, the conversation around ETFs is no longer about if they'll be approved, but when.
While analysts indicate that the SEC is preparing to grant approval for various altcoins, the latest statement came from Bloomberg ETF analyst James Seyffart.
According to a Bloomberg analyst speaking to Milk Road in an interview, several tokens appear poised to receive approval from the SEC.
Seyffart stated that among these altcoins, altcoins such as Chainlink (LINK), Stellar (XLM), Bitcoin Cash (BCH), Avalanche (AVAX), Litecoin (LTC), Polkadot (DOT) meet the listing criteria.
In addition, Seyffart said that well-established names such as XRP, Solana (SOL), Cardano (ADA), Dogecoin (DOGE) and Shiba Inu (SHIB) have high trading volumes and are on the list as strong candidates thanks to their well-established derivatives markets.
However, the Bloomberg analyst noted that XRP, ADA, and SOL are the strongest candidates.
“Spot ETF launches most likely for XRP, Solana, and Cardano.”
Speaking about Ethereum ETFs, Seyffart added that demand could increase sharply once staking in ETFs is officially allowed.
In a recent statement, the analyst said that the current market is already in an “altcoin season” and that the current cycle is not like the past cycles.
Seyffart also noted that altcoin ETFs are generating significant upward momentum, but not in the same way Bitcoin is. To that end, the analyst cautioned that altcoin ETFs are unlikely to generate the same market reaction as Bitcoin.
*This is not investment advice.
