Bloomberg’s senior ETF analyst expects multiple new crypto exchange-traded funds (ETFs) to launch in 2025 amid anticipated changes in Securities and Exchange Commission (SEC) leadership since Republican Donald Trump won the U.S. presidential election. Wall Street is pushing for Ripple’s XRP to win a U.S.-listed spot ETF, following in the footsteps of Bitcoin and Ether (ETH), which scored their own spot ETFs earlier this year. However, the Bloomberg analyst suggests that an XRP, or even Solana (ETF), will likely happen after a Litecoin ETF launches. Bitcoin, Ethereum Combo Funds To Lead ETF Wave Of 2025 Bloomberg’s Eric Balchunas took to X to reveal that he expects “a wave of cryptocurrency ETFs next year, albeit not all at once”, sharing an analysis from fellow ETF analyst James Seyffart. Balchunas anticipates Bitcoin and Ethereum combo ETFs hitting the market, as well as potential offerings for Litecoin, XRP, Solana, and HBAR. In fact, he is certain that the new Bitcoin and Ether combo funds will be greenlighted first, followed by ETFs tracking Litecoin (LTC) or Hedera Hashgraph (HBAR) ETFs. Notably, asset managers, including Bitwise, Hashdex, and Franklin Templeton, have already filed to introduce the Bitcoin and Ethereum combo ETFs. The SEC is widely expected to embrace a more crypto-friendly outlook next year after pro-crypto Paul Atkins was nominated to replace crypto foe SEC Chair Gary Gensler. Gensler announced that he would step down from the agency on the day of Trump’s inauguration on Jan. 20. However, this does not mean that XRP ETFs will be greenlit shortly after Atkins takes office, according to the Bloomberg ETF expert. XRP, Solana ETFs Not Coming In Near Future? Notably, Balchunas doesn’t think the Securities and Exchange Commission will soon approve spot XRP and SOL ETFs. As you know, both XRP and Solana have been named as securities in pending lawsuits in the US. As such, these issues must first be resolved before the SEC can grant its approval. But, neither LTC nor HBAR has ever been called a security by the SEC, which makes their path to spot exchange-traded funds less complex than larger market-cap assets like XRP and Solana. Moreover, Litecoin is a fork of Bitcoin, hence it may be considered a “commodity”, just like its progenitor. While Balchunas sees HABR and LTC as having a higher likelihood of winning SEC approval, he said it is unclear whether there is enough investor demand for the ETF products. As of press time, Canary Capital is the only asset manager that has filed registration documents for a spot LTC ETF with the SEC.
