Summary:
Bloomberg Analyst predicts a wave of crypto ETFs in 2024.
The first ETF will likely combine BTC and ETH.
Litecoin and HBAR are favorably positioned for ETF approval.
Legal challenges may delay XRP and Solana ETF filings until 2026.
Initial wave of ETFs expected to begin in 2024, but timelines are uncertain.
Anticipated Wave of Crypto ETFs in 2024
Bloomberg ETF analyst Eric Balchunas has indicated that a significant wave of cryptocurrency exchange-traded funds (ETFs) is anticipated in 2024.
First ETFs on the Horizon
The first ETF is expected to be a combination of Bitcoin (BTC) and Ethereum (ETH), followed closely by Litecoin (LTC), HBAR, and eventually XRP and Solana. These latter two have faced regulatory scrutiny, categorizing them as securities.
Favorable Positions for Approval
Interestingly, the SEC has not classified Litecoin and HBAR as securities, placing them in a favorable position for ETF approval. However, legal challenges surrounding XRP and Solana may delay their ETF filings until 2026. Balchunas emphasized that while the initial wave of ETFs will begin next year, the timeline for others, especially those linked to securities, remains uncertain.
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