 ▲ Solana (SOL) |
The passage of the spot Bitcoin (BTC) exchange-traded fund (ETF) last January and the approval of the spot Ethereum (ETH) ETF opened the way for altcoin ETFs in the United States. Industry experts predict that altcoin ETFs could be approved next in the United States.
However, James Seyffart, a Bloomberg ETF analyst, said in an interview with Crypto News, “There is a long way to go before digital asset ETFs other than BTC and ETH are approved in the United States.”
He said, “SOL is the most suitable as the next ETF. However, it will likely take several years to see the next altcoin ETF. Even if the issuer applies for an ETF tomorrow, the U.S. Securities and Exchange Commission (SEC) will not make a decision on it until March 2025. “It will not be lowered,” he predicted.
“ETFs need two things. First, clarity on whether the assets are commodities or securities. Second, a regulated market that can be monitored,” he said, noting that altcoins currently do not meet ETF requirements.
However, he said, "The U.S. presidential election could have a positive impact on the possibility of another cryptocurrency ETF. In theory, a pro-crypto administration could more quickly create a framework for other digital assets to become ETFs." expected.
According to Crypto News, it is very likely that a pro-cryptocurrency administration will emerge in the United States in the next few years.
Presidential candidate Donald Trump recently expressed support for Bitcoin and cryptocurrency mining.
Robert F. Kennedy Jr. (RFK Jr.) also supports Bitcoin and cryptocurrency.
