Expectations for altcoin ETF approval are rising… 31 applications submitted in the first half of this year alone

Following last year's US presidential election, the SEC has relaxed its stance on cryptocurrencies, and approval of an altcoin ETF is imminent, following Bitcoin and Ethereum in the market.
Anticipation is building. It has been confirmed that at least 31 altcoin exchange-traded index fund (ETF) applications were received by the U.S. Securities and Exchange Commission (SEC) in the first half of this year.
In the past, the SEC has approved spot and futures ETFs for Bitcoin and Ethereum, but altcoin-related products have repeatedly failed. However, with recent changes in the regulatory environment,
In 2019, traditional financial institutions such as VanEck, WisdomTree, and Franklin Templeton invested in various altcoins such as XRP, BNB, and Avalanche (AVAX).
There have even been attempts to register a meme coin named after President Donald Trump as an ETF.
Analysts believe that at least 10 or more altcoin ETFs are likely to receive SEC approval.
"Litecoin (LTC) is likely to be the first to be approved, followed by Solana (SOL)," said Chairman and CEO of the Board of Directors, E.I.C. Balchunas.
Prey's early filing of the Solana ETF with a "40 Act" structure is said to have influenced the speed of the SEC's review.
The SEC is still reviewing whether the proposed structure and operations meet the definition of an "Investment Company Act."
"There are still unresolved questions about whether the SEC will be able to provide a solution to the problem," he said, but industry insiders believe there is a good chance of adjustment.
The request to amend the relevant text is being interpreted as suggesting that staking is acceptable. According to Bloomberg Terminal metrics shared by Balchunas, at least 1
The chances of 0 altcoin ETFs being approved are now over 60%.