Close Menu
    Track all markets on TradingView
    Economy and markets

    Anticipation Builds as Major Altcoin ETFs Seek SEC Green Light This October

    wsjcryptoBy Nessun commento3 Mins Read

    “`html

    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.

    Source: James Seyffart

    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.

    Source: Nate Geraci

    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.