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The cryptocurrency sector could be poised for an influx of new crypto exchange-traded funds in October, as the US Securities and Exchange Commission is expected to finalize their decisions on 16 crypto ETFs next month.
The ETFs are associated with a range of prominent altcoins, such as Solana (SOL), XRP (XRP), Litecoin (LTC), and the memecoin Dogecoin (DOGE), all of which have final deadlines spread throughout October.
First up for approval is the decentralized exchange Canary’s Litecoin ETF, with a deadline of Oct. 2, followed by asset manager Grayscale’s Solana and Litecoin trust conversion on Oct. 10, concluding with WisdomTree’s XRP fund on Oct. 24, according to a list of forthcoming approvals compiled by Bloomberg ETF analyst James Seyffart.
Decisions could be made at any point before the final deadline.
Analysts from the Bitfinex crypto exchange projected in August that a new altcoin season or surge could emerge from the crypto ETF approvals, granting investors exposure to the coins with reduced risk.
‘Significant’ upcoming weeks in ETFs
ETF analyst and NovaDius Wealth Management president Nate Geraci stated in a post on X on Monday that it will be an “Significant next few weeks for spot crypto ETFs,” due to the numerous filings nearing deadlines.
“Kicking off this week with the deadline for Canary’s spot Litecoin ETF. This will be succeeded by decisions on sol, doge, xrp, ada, & hbar ETFs, though the SEC can approve any or all of these at any time,” he added.
Meanwhile, crypto trader Daan Crypto Trades described October as “ETF month” but pointed out that two key players, Fidelity and BlackRock, are missing from the lineup.
“None of the proposals with deadlines in October were submitted by Fidelity or BlackRock, which are the two major entities in the Crypto ETF domain. Regardless, it could be worth monitoring in the weeks to come,” said Daan Crypto Trades.
In June, Seyffart estimated the likelihood of the SEC approving the various crypto ETFs approaching final deadlines in October to be 90% or higher sometime in 2025.
SEC streamlines approvals moving forward
The SEC has postponed decisions on various crypto ETFs throughout 2025, establishing numerous new deadlines; however, the regulator has also taken measures to expedite the timelines amid a more favorable stance toward crypto.
Related: REX-Osprey crypto ETFs to debut Friday barring SEC objection — Bloomberg analyst
The SEC endorsed a new listing standard for commodity-based trust shares on Sept. 17 that might accelerate the process of launching future spot crypto ETFs.
Seyffart commented at that time that the policy shift would serve as a positive progression toward a “surge of spot crypto ETP launches.”
Fellow ETF analyst Eric Balchunas also speculated there may be many more soon, highlighting 22 coins with futures on Coinbase that were “qualified for spot ETF-ization.”
Since the alteration in listing standards, asset manager Hashdex has already broadened its crypto ETF to encompass XRP, Solana, and Stellar (XLM).
Magazine: SEC’s pivot on crypto leaves essential questions unanswered
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