The U.S. Securities and Exchange Commission (SEC) could begin approving a wave of cryptocurrency-linked exchange-traded funds (ETFs) as early as July, potentially ushering in what analysts are calling an “altcoin ETF summer.”
According to Bloomberg senior ETF analyst Eric Balchunas, the regulatory body may greenlight ETFs that track broad-based crypto indexes next month. Balchunas shared a note on June 10 from fellow analyst James Seyffart, who suggested that fund issuers might soon receive the SEC’s blessing to launch diversified crypto ETFs—products that bundle multiple digital assets into a single investment vehicle.
Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via @JSeyff note this morning which includes fresh odds for all the spot ETFs. pic.twitter.com/UMzih4oou7
— Eric Balchunas (@EricBalchunas) June 10, 2025
Among the leading candidates for early approval is Solana (SOL), which analysts expect to spearhead the next phase of ETF innovation. The SEC is reportedly reviewing several filings, including applications from Grayscale and Bitwise, that propose ETFs offering exposure to a basket of cryptocurrencies. A final decision on these products is expected by July 2, and Bloomberg analysts assign a 90% probability to their approval.
The SEC is also weighing applications for ETFs tied to individual altcoins like Solana and XRP, as well as funds offering staking capabilities. While final decisions on these more specialized products may come later in the year, recent developments hint at momentum. On June 10, Blockworks reported that the SEC has instructed issuers seeking Solana ETF approval to revise and update their registration filings, signalling active discussions between the agency and fund sponsors.
Meanwhile, ETF Store president Nate Geraci echoed the growing optimism, stating on June 11 that the SEC seems ready to “open the floodgates” for crypto ETFs—a move he believes is the last step before major brokerage platforms begin offering direct spot crypto trading.
Balchunas also speculated that the market may soon see a wave of actively managed crypto ETFs, with the possibility of a memecoin-only ETF emerging by 2026. For now, he anticipates an influx of active strategies entering the ETF space, as traditional finance continues to embrace digital assets.
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