The launch of spot Bitcoin ETFs and the subsequent introduction of Ethereum counterparts last year in the United States have significantly transformed the landscape of cryptocurrency investments. The pro-crypto approach taken by political figures, including former President Trump, alongside a favorable regulatory environment, has further fueled optimism surrounding the potential for a variety of large-cap altcoins to achieve similar financial vehicles on Wall Street.
Currently, over 70 ETF applications are awaiting review by the Securities and Exchange Commission (SEC). According to Bloomberg’s prominent ETF expert, Eric Balchunas, who spoke at the Token2019 conference in Dubai, there is a strong likelihood that many of these applications will gain approval this summer.
In a recent post shared by Balchunas and subsequently highlighted by analyst James Seyffart, he suggests that the coming months might be heralded as the “summer of crypto ETFs.” This period could usher in products that track the performance of various assets, including LTC, XRP, SOL, and DOGE.
According to approval odds on Polymarket, which boasts a commendable accurate track record for predicting such events, there is a 79% chance that an XRP ETF will be approved by the end of this year. However, this percentage drops to 42% when considering a deadline of July 31.
Leading the charge in ETF applications, Ripple has already received approval for several futures-based ETFs, although spot ETFs remain elusive. For those interested, here is the latest summarized information concerning the developments in the Ripple ETF domain.
When it comes to DOGE, the approval odds stand at 68% by December 31, while the likelihood of approval by July 31 is under 25%. For Solana, the chances appear to be 78% by year-end and 30% by the end of July. Litecoin shares similar probabilities with 78% for the end of the year and 24% for July 31.
The potential approval of these ETFs marks an exciting time for investors and the cryptocurrency community alike. As we approach summer, all eyes will be on the SEC and the future of crypto investment vehicles. Will this summer live up to the hype?
This topic has gained traction in various publications, with insights such as in this article on CryptoPotato.
