The US Securities and Exchange Commission could start to approve some crypto-tied exchange-traded funds as soon as next month, kicking off an “altcoin ETF summer,” analysts say.
Bloomberg senior ETF analyst Eric Balchunas posted to X on Tuesday a note from fellow analyst James Seyffart that said, “ETFs that track broad crypto indexes may be approved by the SEC next month.”
The note added that the SEC could also “act early” on Solana (SOL) and staking ETF filings, with Balchunas saying to “get ready for a potential altcoin ETF summer with Solana likely leading the way.”
Several fund issuers, including Grayscale and Bitwise, have filed with the SEC to launch ETFs that track a bundle of cryptocurrencies, aiming to provide broad exposure to the market, which the SEC must decide on by July 2 and which Bloomberg’s analysts have given 90% odds of approval.
The SEC is also considering ETFs that track XRP (XRP), Solana and some offering exposure to staking, which it does not have to decide on until later this year.
Crypto bundle ETFs will be “more interesting”
21Shares President Duncan Moir told Cointelegraph at Proof of Talk’s Roadmap for Institutional Capital Inflow in Paris that the race for new crypto exchange-traded product (ETP) launches is heating up and that as more asset managers enter the fray, “basket products are going to be more interesting.”
“It’s like you don’t know which one is going to be the winner. So you buy a basket [of them all], it’s a no-brainer,” he added.
“I think that’s going to be a big trend that we’re seeing,” Moir added. “It’ll be interesting to see how and when people can bring basket products to market in the United States.”
Will Solana be the first?
Seyffart’s prediction that Solana-based funds would lead the way, along with staking for spot Ether (ETH) ETFs, comes as Blockworks reported on Tuesday that the SEC told fund issuers vying to launch Solana ETFs to update their registration filings with the agency.
“Conversations around the nuances of staking Solana in ETFs are getting underway between the SEC and hopeful Solana ETF issuers.”
Related: SEC says REX-Osprey staked SOL and ETH funds may not qualify as ETFs
Meanwhile, on June 11, ETF Store president Nate Geraci said it looks like the SEC is “about to open floodgates on crypto ETFs,” which is the “last step before all major brokerages offer direct spot crypto trading.”
Active memecoin ETF soon
Last week, Balchunas said there was a “really good chance” that an ETF that actively trades memecoins will exist at some point.
But first, “we’ll get a slew of active crypto ETFs,” he said, adding that an active emecoin-only fund will likely emerge in 2026.
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Additional reporting by Ailsa Sherrington.
