Summer of Altcoin ETFs: What to Expect from Solana
Date: 2025-06-11 Author: Henry Casey Categories: CRYPTO PAYMENTS
Experts believe that the chances of a Solana-based ETF being approved have increased significantly — from 70% to 90%. Earlier, analysts James Seyffarth and Eric Balchunas accurately predicted the approval and launch of spot Bitcoin ETFs in 2024. Now Balchunas has tweeted that the coming period will be the “summer of altcoin ETFs,” and a Solana-based fund will kick off the process.
In addition to Solana, the U.S. Securities and Exchange Commission (SEC) has filed applications to create ETFs for cryptocurrencies such as Litecoin (90% chance of approval), XRP (85%), Dogecoin (80%), and Cardano, Polkadot, and Avalanche (each with a 75% chance of approval). An ETF on SUI is estimated at 60%, and the review of the TRON application has not yet begun - the deadline is set for 2026.
Many large issuers are planning to launch Solana ETFs, including Fidelity, Franklin Templeton, VanEck, Bitwise, Canary Capital, 21Shares, and Grayscale. The SEC must make a decision on these funds within 240 days, the deadline is October, but analysts are hoping for an earlier approval.
According to James Seyffarth, the SEC may speed up the 19b-4 review process for Solana and issue approval earlier than expected. Issuers and industry representatives are likely to work closely with the regulator and its cryptocurrency working group to develop the necessary rules, but a final decision is not expected until October.
According to journalists, the SEC has asked the companies applying to launch the Solana ETF to update documents with additional details on the redemption and staking mechanisms within the fund. This stage of the bureaucratic process takes about 30 days, suggesting that approval could be received as early as July.
Earlier in February, the Chicago Mercantile Exchange (CME) began trading SOL futures, which is seen as a positive sign for the future of the Solana ETF. Similarly, the CME launched Bitcoin and Ethereum futures ahead of their ETFs, which subsequently helped the SEC approve these products.
As such, the altcoin ETF market is poised for significant expansion, with Solana poised to pioneer a new wave of cryptocurrency funds.
