Bloomberg Analysts Predict Litecoin, Hedera ETFs To Come Before Solana, XRP ETFs

Bloomberg analysts, including Eric Balchunas and James Seyffart, have predicted that the Litecoin and Hedera ETFs could launch before the Solana and XRP ETFs. These analysts also provided insights into why they hold such beliefs regarding the crypto ETF landscape.

Bloomberg Analysts Predict Litecoin, Hedera ETFs To Come First

In an X post, Bloomberg analyst Eric Balchunas shared his team’s prediction that the Litecoin and Hedera ETFs could come first before the Solana and XRP ETFs. The analyst stated that they expect a wave of crypto ETFs next year, although not at once.

They expect the SEC to first approve Bitcoin and Ethereum combo ETFs. Bitwise, Franklin Templeton, and Hashdex have all filed to offer these Dual ETFs. The Bitcoin and Ethereum ETFs have enjoyed massive success. These Bitcoin ETFs recently surpassed Satoshi Nakamoto’s BTC holdings.

These Bloomberg analysts predict the next crypto ETFs will probably be the Litecoin and Hedera ETFs, followed by the Solana and XRP ETFs. In his outlook, James Seyffart explained why they believe these ETFs would come before the Solana and XRP ETFs.

Why The Solana And XRP ETFs Have Lower Approval Odds

Seyffart stated that the Solana and XRP ETFs would have to wait for the next SEC administration before the Commission can consider the pending applications. Even then, the Bloomberg analyst noted that there are complex legal issues around these coins and others relating to their status as securities, which need to be resolved first.

In XRP’s case, the Ripple SEC lawsuit is still pending, which is likely one of the legal issues that Seyffart is referring to. The SEC and Ripple have a long history with their long-running legal battle. However, despite these obstacles, crypto figures like Ben “Bitboy” Armstrong are confident that an XRP ETF is imminent.

Meanwhile, unlike Solana and XRP, the Bloomberg analyst noted that Litecoin and Hedera haven’t been referred to as securities by the US SEC. The analyst added that while they believe that Litecoin and Hedera ETFs have higher approval odds, they remain uncertain whether there is actual demand for these funds.

Canary Capital is the only asset manager that has filed for a Litecoin and Hedera ETF, which suggests that issuers do not believe there is enough demand for these crypto products. Bitwise, Canary Capital, 21Shares, and WisdomTree have all filed for XRP ETFs. Meanwhile, Grayscale, VanEck, Canary Capital, and Bitwise have all filed for Solana ETFs.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

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