The U.S. Securities and Exchange Commission may begin approving crypto-linked exchange-traded funds as early as next month, potentially ushering in an “altcoin ETF summer,” according to analysts.
Bloomberg senior ETF analyst Eric Balchunas shared a note on X from colleague James Seyffart, suggesting that the SEC could greenlight ETFs tracking broad crypto indexes in July.
The note also mentioned that the agency might “act early” on applications for Solana and staking-focused ETFs. Balchunas added, “Get ready for a potential altcoin ETF summer, with Solana likely leading the charge.”
Multiple asset managers, including Grayscale and Bitwise, have submitted applications to the SEC to launch ETFs that track a diversified basket of cryptocurrencies, aiming to offer broad market exposure. The SEC faces a July 2 deadline to decide on these proposals, and Bloomberg analysts estimate a 90% chance of approval.
In addition, the SEC is reviewing ETF filings tied to individual assets like XRP and Solana, as well as funds offering staking exposure—though decisions on those are not expected until later this year.
Crypto Basket ETFs Poised to Be “More Compelling”
Speaking at Proof of Talk’s Roadmap for Institutional Capital Inflow event in Paris, 21Shares President Duncan Moir told Cointelegraph that competition among asset managers to launch new crypto exchange-traded products (ETPs) is intensifying. As more players enter the space, he believes that “basket products are going to be more compelling.”
“It’s like you don’t know which one will come out on top. So you buy a basket of them—it’s a no-brainer,” Moir explained.
“I think that’s going to be a major trend we’re witnessing,” Moir added. “It’ll be interesting to watch how and when basket products make their way to the U.S. market.”
Could Solana Be the First in Line?
Seyffart’s forecast that Solana-based funds could take the lead—alongside staking features for spot Ether ETFs—comes amid a Blockworks report on Tuesday revealing that the SEC has instructed Solana ETF applicants to update their registration filings.
“Conversations around the nuances of staking Solana in ETFs are getting underway between the SEC and hopeful Solana ETF issuers.”
Meanwhile, on June 11, ETF Store President Nate Geraci remarked that the SEC appears “ready to open the floodgates on crypto ETFs,” calling it the “final step before major brokerages begin offering direct spot crypto trading.”
Active Memecoin ETF Could Be on the Horizon
Last week, Balchunas stated there’s a “really good chance” that an actively managed memecoin ETF will eventually launch.
However, he noted that a wave of active crypto ETFs will likely come first, with a memecoin-focused fund expected to debut around 2026.
