Bloomberg Analyst Announced: "Get Ready for the Altcoin ETF Summer! And This Altcoin Will Get the First Approval!"

The U.S. Securities and Exchange Commission (SEC) is delaying the ETF applications made for altcoins such as XRP, Solana (SOL), and Litecoin (LTC), Cardano (ADA) one by one.

As the market eagerly awaits which altcoin ETF will be approved after Bitcoin and Ethereum, Bloomberg ETF analysts Eric Balchunas and James Seyffart predict that Solana could be the first altcoin to receive approval for a spot ETF.

Bloomberg ETF analyst Eric Balchunas also noted that there could be an upcoming Altcoin ETF led by Solana.

At this point, Eric Balchunas stated that there is a high likelihood of mass approval for altcoin ETFs this summer.

However, Balchunas stated that he does not have high expectations regarding inflows into altcoin ETFs. He expressed that the scale of capital inflow into altcoin ETFs would not be large, unlike Bitcoin.

"Solana’s ( and some basket products ) are likely to lead a potential Alt Coin ETF Summer.

Altcoin ETFs may attract some funds, but it is difficult to predict the scale. However, Bitcoin will not be at the same level as (BTC).

The president of the ETF issuer company 21Shares, Duncan Moir, stated at a conference held in Paris that the competition for new ETF launches is intensifying and that “basket products will become more interesting” with the entry of more asset managers into the sector.

According to data from Bloomberg Intelligence, the probability of approval for Solana ETF is 90%, 90% for Litecoin, and 85% for XRP. Dogecoin follows with an 80% probability; Other altcoin ETFs, such as Cardano, Polkadot, Hedera (HBAR), and Avalanche (AVAX)***, are estimated to have a 75% chance of getting the green light.