Bitcoin, Ethereum Combo Funds to Lead ETF Wave of 2025

Bloomberg's Eric Balchunas took to Twitter to reveal that he expects "a wave of cryptocurrency ETFs next year, albeit not all at once"

Multiple new crypto exchange-traded funds (ETFs) are expected to launch in 2025 amid anticipated changes in Securities and Exchange Commission (SEC) leadership, following Republican Donald Trump's victory in 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, a Bloomberg ETF analyst suggests that an XRP, or even Solana (SOL) ETF, will likely launch after a Litecoin ETF hits the market.

Bitcoin, Ethereum Combo Funds To Lead ETF Wave Of 2025 Taking to Twitter on Friday, Bloomberg’s senior ETF analyst Eric Balchunas shared an analysis from fellow ETF analyst James Seyffart, revealing that he expects “a wave of cryptocurrency ETFs next year, albeit not all at once.”

Balchunas anticipates Bitcoin and Ethereum combo ETFs hitting the market in 2025, along with potential offerings for Litecoin, XRP, Solana, and HBAR.

However, the ETF expert believes that the new Bitcoin and Ether combo funds will be greenlighted first, followed by ETFs tracking Litecoin (LTC) or Hedera Hashgraph (HBAR) assets.

Several asset managers, including Bitwise, Hashdex, and Franklin Templeton, have filed to introduce the Bitcoin and Ethereum combo ETFs.

The SEC is 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, January 20.

But this doesn’t 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 – Balchunas Notably, Balchunas doesn’t think the SEC 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. This issue must be resolved before the SEC can grant its approval.

However, 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, and it could be considered a “commodity,” just like its progenitor.

While Balchunas sees HABR and LTC as having a higher chance of winning SEC approval, he said it is unclear whether there is enough investor demand for the ETF products.

At press time, only Canary Capital has filed registration documents for a spot LTC ETF with the SEC.