Bloomberg Analysts Predict Litecoin and Hedera ETF Approval Before Solana and XRP

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by Giorgi Kostiuk

2 years ago

Bloomberg analysts Eric Balchunas and James Seyffart anticipate Litecoin and Hedera ETFs to be approved before Solana and XRP, citing various legal factors.

Anticipating Litecoin and Hedera ETF Approvals

Eric Balchunas noted in a post on the X platform that his team expects Litecoin and Hedera ETFs to be approved prior to Solana and XRP. He mentioned a potential wave of cryptocurrency ETFs in the coming year, although these approvals may not occur simultaneously.

Legal Challenges and Expectations

James Seyffart explained that the approval of Solana and XRP ETFs requires addressing complex legal issues surrounding their security status, which must be tackled by the new SEC leadership. Regarding XRP, the ongoing litigation between Ripple and the SEC remains unresolved, reducing the likelihood of Solana and XRP ETF approvals.

Market Dynamics and ETF Interest

Despite the higher likelihood of Litecoin and Hedera ETF approvals, analysts emphasized that demand for these funds will be decisive. The overall dynamics of the cryptocurrency ETF market are varied, and legal hurdles could significantly impact the approval processes.

Bloomberg analysts predict that Litecoin and Hedera ETFs may receive approval faster than Solana and XRP, due to the absence of legal issues. However, demand for these products will remain a crucial factor.

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