The U.S. Securities and Exchange Commission (SEC) could begin approving cryptocurrency-linked exchange-traded funds (ETFs) as early as July, potentially unleashing a wave of new investment products focused on altcoins like Solana and XRP, according to analysts at Bloomberg.
Bloomberg senior ETF analyst Eric Balchunas posted a note on social media platform X on behalf of a colleague, James Seyffart, saying that ETFs that track broad-based crypto indexes might get regulatory approval in next month.
Balchunas wrote, get ready for a potential altcoin ETF summer with Solana likely leading the way signaling the beginning of what could be a brand new era of crypto investment vehicles.
Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via @JSeyff note this morning which includes fresh odds for all the spot ETFs. pic.twitter.com/UMzih4oou7
— Eric Balchunas (@EricBalchunas) June 10, 2025
SEC Decision on Crypto ETFs by July
A number of asset managers, such as Grayscale and Bitwise, have already filed ETFs aimed at tracking a basket of cryptocurrencies. These filings, which seek to provide diversified exposure to a variety of digital assets, will have SEC action by July 2. According to estimates given by Bloomberg analysts, there is a 90 percent likelihood that the SEC will grant at least a portion of these applications.
Although index-based products are nearing the finish line the most, more narrow ETFs on single assets, such as Solana and XRP, as well as funds providing access to staking mechanisms, are also under review by the SEC. Decisions regarding those however might be later in the year.
Basket Crypto Products Could Dominate U.S. Market
Duncan Moir, President of 21Shares, spoke at the Proof of Talk conference in Paris and highlighted the rising demand in diversified crypto investment products. Basket products will become more interesting, Moir said, citing the strategic value of diversifying risk over a number of assets in a turbulent market.
It is as though you do not know which one is going to be the winner. Therefore, you purchase a basket [of them all], it is a no-brainer, Moir continued, predicting that such multi-asset ETFs may become a mega-trend in the American crypto marketplace.
SEC Signals Progress on Solana ETF Reviews
Seyffart’s projection that Solana-linked ETFs could be one of the first to market, received more validity this week. A report by Blockworks indicated that the SEC has recently asked fund issuers to amend their registration documents to include Solana ETF, which is an indication that reviews are in process.
“Conversations around the nuances of staking Solana in ETFs are getting underway between the SEC and hopeful Solana ETF issuers.”
In the meantime, Nate Geraci, president of The ETF Store, stated that the SEC seems to be “on the verge of opening floodgates to crypto ETFs,” calling it a significant step toward the mainstream availability of spot crypto trading via traditional brokerages.
Looks like SEC about to open floodgates on crypto ETFs…
Last step before all major brokerages offer direct spot crypto trading.
Then we head down path towards full securities tokenization.
ETFs = bridge b/w tradi & defi.
That bridge is nearly built.
Crypto going mainstream.
— Nate Geraci (@NateGeraci) June 11, 2025
Altcoin and Staking ETFs Signal Market Evolution
Going even further, Balchunas also teased about the future of ETF offerings that will go beyond the traditional crypto assets. There is a “very good possibility” that an actively managed ETF dedicated to meme coins like Dogecoin or Shiba Inu will launch by 2026, he said.
Prior to that, though, Balchunas anticipates a “slew” of actively managed crypto ETFs to enter the market, seeking more sophisticated retail and institutional clients willing to forego the static exposure to the digital asset space.
A possible change of position by the SEC represents a U-turn in the future of crypto investing in the United States. Whereas Bitcoin and Ethereum ETFs have grabbed the headlines over the last few years, the move into wider altcoin indexes and staking products have the potential to provide investors with access to the (near) complete panoply of the crypto ecosystem through traditional investment vehicles like never before.
Altcoin ETF Summer Hinges on July SEC Decision
Should the July approvals come to pass, it may lead to a considerable degree of capital inflow, particularly on the part of institutional actors who have heretofore been reluctant to make direct movements in the crypto markets.
As Moir stated it will be interesting to await how and when people will be able to take basket products to market in the United States. In the meantime, all attention is focused on the SEC decision window next month and whether the long-awaited “altcoin ETF summer” will (finally) come.
Conclusion
Should the SEC proceed with approvals in July then this may be a U-turn in crypto investing in the U.S. Wider availability of diversified and single-asset ETFs could open the institutional capital floodgates, ETF mainstream adoption, and the long-hyped “altcoin ETF summer” that would position crypto ETFs as a revolutionary force within the traditional finance domain.
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FAQs
1. What is “Altcoin ETF Summer”?
A term for the expected wave of SEC approvals for crypto ETFs in July, especially altcoin-focused ones.
2. Which ETFs could be approved first?
Broad crypto index and Solana ETFs are likely first, with decisions expected by July 2.
3. Why are basket crypto ETFs popular?
They offer diversified exposure, reducing risk by including multiple cryptocurrencies in one fund.
Glossary of Key Terms
Altcoin – Any cryptocurrency other than Bitcoin.
ETF – A fund traded on stock markets that holds assets like crypto.
Altcoin ETF Summer – A term for the expected wave of altcoin ETF approvals.
SEC – U.S. regulator overseeing securities like ETFs.
Staking ETF – ETF offering exposure to crypto staking rewards.
Grayscale / Bitwise – Firms applying to launch crypto ETFs.
21Shares – Asset manager promoting crypto basket products.
Basket Product – Investment holding multiple cryptos for diversification.
Meme coin – Joke-based cryptocurrencies like Dogecoin or Shiba Inu.
References
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