📢 Gate Square #MBG Posting Challenge# is Live— Post for MBG Rewards!
Want a share of 1,000 MBG? Get involved now—show your insights and real participation to become an MBG promoter!
💰 20 top posts will each win 50 MBG!
How to Participate:
1️⃣ Research the MBG project
Share your in-depth views on MBG’s fundamentals, community governance, development goals, and tokenomics, etc.
2️⃣ Join and share your real experience
Take part in MBG activities (CandyDrop, Launchpool, or spot trading), and post your screenshots, earnings, or step-by-step tutorials. Content can include profits, beginner-friendl
Are Altcoin Spot ETFs, including Solana (SOL) and Litecoin (LTC), coming? Bloomberg Analysts Commented
The cryptocurrency exchange-traded fund market, which has been dominated by Bitcoin and Ethereum for a long time, may soon welcome new competitors as the US Securities and Exchange Commission begins reviewing applications for Solana and Litecoin ETFs (SEC).
On Thursday, the SEC took the first step in the regulatory review process by considering the applications for Grayscale Litecoin Trust and Solana Trust. According to Bloomberg Intelligence analyst James Seyffart, this approval is particularly important as the SEC has previously rejected similar applications for Solana.
Seyffart stated that these recent developments have put the SEC on a timeline and the final decision is expected by October 11th.
Analysts have long been predicting that the increase in crypto investment products will occur with Gary Gensler's departure from the SEC chairmanship and the Trump administration taking over. This change seems to be taking shape.
Bloomberg Intelligence analyst Eric Balchunas said in his statement:
“Just six weeks ago, under Gensler's leadership, the SEC told Cboe to withdraw its Solana ETF application. So we are now in a new territory.”
However, legal barriers persist. The SEC had previously classified Solana as a security in lawsuits against major exchanges and increased regulatory uncertainties for potential ETF approval.
Seyffart said, “They need to clear the legal and sanction section to approve a Solana ETF.”
Despite these challenges, there appears to be a strong market demand for Solana-based ETFs. JPMorgan analysts predict that approval of a Solana ETF could bring in between 3 billion and 6 billion dollars. However, the bank's analysts predict that altcoin ETFs, including Solana's, are likely to lag behind Bitcoin and Ethereum in adoption.
JPMorgan researchers said, "Even if the expectations for Ethereum ETF do not fall below the status of Altcoins, they will align."
In addition to Solana Trust, the SEC has also begun considering Grayscale's Litecoin Trust application. Additionally, Canary Capital proposed a Litecoin ETF that some experts believe could receive approval before Solana's offering. Unlike Solana, Litecoin has not been classified as a security, which potentially eases its regulatory path.
Balchunas said, "Litecoin ETFs have now checked all the boxes" and added, "With a new SEC sheriff in town, this could be the first altcoin ETF to hit the market."