The approval of the BTC ETF last year sparked anticipation among investors for altcoin ETF confirmations. Recently, the Securities and Exchange Commission (SEC) has released a new framework for listing, signaling a potential approval for altcoin ETFs. On Monday, they requested issuers to withdraw their 19b-4 forms, indicating that the awaited altcoin ETF approvals for the last quarter are quite realistic.
Imminent Solana (SOL) ETF Approval
The approval of a Solana 
$89 ETF could happen shortly. Eric Balchunas, an analyst at Bloomberg Intelligence known for his insights into crypto ETF processes, has indicated the high likelihood of Solana’s approval. Known for his accurate analyses during BTC and ETH ETF approvals, he now asserts a 100% certainty for Solana’s ETF approval.
A user questioned Eric’s confidence by asking why he increased the approval probability from 90% to 95%, to which Eric responded that it is not 95% but indeed confirmed;
“Frankly, the probability is now genuinely 100%. The general listing standards have rendered 19b-4s and their ‘timing’ insignificant. Currently, the S-1s are awaiting the official go-ahead from Corp Finance. They’ve just proposed the fourth amendment for Solana. It could happen anytime. Be ready.”
Despite Solana Coin setting a $250 target recently, concerns over this week’s employment figures have slightly pulled it back. After Spot ETF approval, institutional investment in cryptocurrencies is expected to surge by another $28 billion, reaching $68 billion by 2025. (CoinShares Estimate)
Approval for Over 100 Altcoin ETFs
According to James Seyffart, an ETF expert at Bloomberg Intelligence, the recent rule change implies approval for over 100 altcoin ETFs. While coins like SOL, DOGE, and LTC are currently prominent, James predicts that almost all altcoin ETF applications will receive approval within 6-12 months.
Furthermore, with the updated altcoin listing framework reducing the waiting period from 240 days to 75 days, any altcoin could receive ETF approval within 2.5 months. For instance, new tokens slated for issuance next year could begin trading on the exchange within a quarter.
