US Securities and Exchange Commission Could Start Approving Some Crypto-tied Exchange-traded Funds as Soon as Next Month

The US Securities and Exchange Commission could start to approve some crypto-tied exchange-traded funds as soon as next month, kicking off an “altcoin ETF summer,” analysts say.

The US Securities and Exchange Commission could begin approving several cryptocurrency-linked exchange-traded funds as early as next month, setting the stage for an "altcoin ETF summer," according to analysts.

Bloomberg senior ETF analyst Eric Balchunas shared on X on Tuesday a note from fellow analyst James Seyffart, indicating that ETFs tracking broad crypto indexes may receive the SEC's approval next month.

The note also mentioned that the SEC could act early on Solana (SOL) and staking ETF filings, with Balchunas adding that we can expect to see a potential altcoin ETF summer with Solana likely leading the way.

Several fund issuers, including Grayscale and Bitwise, have filed applications with the SEC to launch ETFs that provide exposure to a bundle of cryptocurrencies. The aim is to offer broad market exposure, which the SEC must make a decision on by July 2 and which Bloomberg’s analysts have given 90% odds of approval.

The SEC is currently considering ETFs that track XRP (XRP), Solana and some offering exposure to staking, which it does not have to decide on until later this year.

Crypto bundle ETFs will be ‘more interesting’

21Shares President Duncan Moir told Cointelegraph at Proof of Talk’s Roadmap for Institutional Capital Inflow in Paris that the competition for new crypto exchange-traded product (ETP) launches is heating up and that as more asset managers join the fray, “basket products are going to be more interesting.”

“It’s like you don’t know which one is going to be the winner. So you buy a basket [of them all], it’s a no-brainer,” he added.

“I think that’s going to be a big trend that we’re seeing,” Moir added. “It’ll be interesting to see how and when people can bring basket products to market in the United States.”

Will Solana be the first?

Seyffart’s prediction that Solana-based funds would lead the way, along with staking for spot Ether (ETH) ETFs, comes as Blockworks reported on Tuesday that the SEC told fund issuers aiming to launch Solana ETFs to update their registration filings with the agency.

Related: SEC says REX-Osprey staked SOL and ETH funds may not qualify as ETFs

Meanwhile, on June 11, ETF Store president Nate Geraci said it looks like the SEC is “about to open floodgates on crypto ETFs,” which is the last step before all major brokerages offer direct spot crypto trading.

Active memecoin ETF soon

Last week, Balchunas said there was a “really good chance” that an ETF that actively trades memecoins will exist at some point.

But first, “we’ll get a slew of active crypto ETFs,” with Balchunas adding that an active emecoin-only fund will likely emerge in 2026.