Key Points
- Bloomberg analysts forecast multiple new cryptocurrency ETFs in 2025, with Bitcoin-Ethereum combination products leading the way, followed by potential Litecoin and HBAR funds pending regulatory approval.
- The anticipated leadership change at the SEC under the Trump administration is expected to create a more favorable environment for crypto ETF approvals, though Solana and XRP funds may face continued delays due to regulatory scrutiny.
New Era of Crypto Investment Products
Following Gary Gensler’s announced departure from the SEC chairmanship, Bloomberg analysts Eric Balchunas and James Seyffart predict a significant expansion in cryptocurrency ETF offerings. “We expect a wave of cryptocurrency ETFs next year, albeit not all at once,” Balchunas stated on X. The transition in SEC leadership has sparked optimism in the crypto investment community, particularly given Gensler’s previously resistant stance toward digital asset products.
Bitcoin-Ethereum Combo ETFs Lead the Charge
The first wave of approvals is expected to feature dual Bitcoin and Ethereum ETFs from established players including Hashdex, Franklin Templeton, and Bitwise. These combination products are positioned as the most likely candidates for immediate approval, building on the success of existing spot Bitcoin ETFs that have already attracted billions in investments.
Regulatory Hurdles and Market Demand
While Litecoin and HBAR ETFs show promising approval odds due to their current regulatory status – neither being classified as securities by the SEC – market demand remains uncertain. Canary Capital stands as the sole issuer filing for these specific products, raising questions about broader market interest. Seyffart noted, “The SEC isn’t calling Litecoin or HBAR a security anywhere,” though he expressed uncertainty about investor appetite.
Looking further ahead, Solana and XRP ETF aspirations face more complex challenges. These products will likely require the new SEC administration’s consideration before making meaningful progress, primarily due to ongoing regulatory uncertainties and security classification debates. Despite these hurdles, industry experts remain optimistic about future possibilities, with ETF Store President Nate Geraci suggesting that “Solana ETFs will be approved by the end of next year at the latest.”
