 ▲ Cryptocurrency ©Coin Leaders |
According to Eric Balchunas, a Bloomberg ETF analyst, the Ethereum spot ETF is expected to be launched on July 2 (local time).
If this analyst's prediction comes true, a spot ETF for altcoin leader Ethereum will be approved almost six months after the first Bitcoin (BTC) spot ETF was launched in the United States on January 14th.
In addition, calls for the launch of spot ETFs for major altcoins such as Solana (SOL), Ripple (XRP), and Dogecoin (DOGE) are expected to grow, taking over the baton from Ethereum.
In relation to this, William Quigley, co-founder of Tether (USDT), said in a recent interview with Decrypt, a cryptocurrency media outlet, "Don't think that the momentum of cryptocurrency ETFs will slow down after the launch of the U.S. BTC and ETH spot ETFs. Wall Street “’s greed will require more ETFs, and various cryptocurrency ETFs will be launched before the cryptocurrency market falls significantly.”
Franklin Templeton, a global asset management company and Bitcoin spot ETF issuer, also recently released a report, predicting that if Trump wins the US presidential election in November, the likelihood of approval of altcoin ETFs such as Solana will increase.
However, James Seipart, an analyst specializing in Bloomberg ETFs, said in an interview with cryptocurrency media 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. “We will not take it down,” he added.
“The U.S. presidential election could have a positive impact on the likelihood of another cryptocurrency ETF. This could accelerate the process, but another altcoin ETF would likely take months or years to come,” he said.
