Solana and XRP Face Delays, Litecoin and HBAR Lead the Pack

The year 2024 is ending with Bitcoin touching the new ATH of $107K and maximum altcoins trading in green. Factors adding to this rally are major expectations of lower interest rate cuts in December, as it typically helped Bitcoin. Another factor that boosted this rally was the inclusion of MicroStrategy in the Nasdaq 100 index. 

In an X post, Bloomberg’s Eric Balchunas, tagging James Seyffart on X, revealed that Bitcoin-Ethereum combo ETFs are likely to launch first, followed by Hedera (HBAR). Solana (SOL) and XRP ETFs might take longer due to their legal battles with the SEC.

Optimism for new crypto ETFs has surged following President-elect Donald Trump’s nomination of Paul Atkins, a pro-crypto former SEC commissioner, and dethrone of SEC Chair, Gary Gensler is clearing the ETF path in the US. It is also evident that Atkins’ lighter regulatory approach could streamline the way for a broader range of crypto ETFs.

Spotlight on Solana and XRP ETFs

While proposals for Solana and XRP ETFs have been submitted, approval is unlikely until the new SEC leadership takes over in January. Bloomberg analysts suggest these funds could see the green light by late 2025. Nate Geraci, President of ETF Store, has also joined the conversation stating, “It’s highly likely Solana ETFs will be approved by the end of next year at the latest.”

Bitcoin adoption and the rise of crypto ETFs are driving prices to new heights—Read Bitcoin price prediction to see where it’s headed next!

Altcoins in Focus

Other altcoin ETFs, including those for Litecoin (LTC) and Hedera (HBAR), could gain approval sooner due to their regulatory clarity. Seyffart highlighted that neither Litecoin nor HBAR has been classified as a security by the SEC, which simplifies their path to market. However, he questioned whether there’s sufficient investor demand for these products.

Looking ahead, the number of altcoins ETF applications is expected to triple in the coming months, reflecting growing interest in diversifying crypto investment options. Issuers appear confident in the regulatory shift, with Two Prime Digital Assets CEO Alexander Blume remarking, “They wouldn’t waste the time and expense if they didn’t believe approval was likely.”

• Also Read :
•   XRP is the Largest Token After BTC & ETH Despite Trading Below $3-Here’s What to Expect if the Price Marks an ATH
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The market is opening doors for alternative investment options since Bitcoin is getting high the market needs fresh inflow. ETFs have helped the market get into shape this year with new ETFs in Q1 it will be an exciting opportunity for traders to divert their portfolios. While the analysts see trouble in approving XRP/Solana ETFs, strong community-driven XRP and Solana are rooting for an early approval as prices are showing signs of breakout in January.

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