The cryptocurrency industry may welcome a wave of new cryptocurrency exchange-traded funds (ETFs) in October, as the U.S. Securities and Exchange Commission (SEC) is set to make final decisions on 16 cryptocurrency ETFs next month.
These ETFs are associated with various major altcoins, including Solana (SOL), Ripple (XRP), Litecoin (LTC), and the meme coin Dogecoin (DOGE), with their final deadlines spread throughout October.
According to a list of upcoming approvals created by Bloomberg ETF analyst James Seyffart, the first to await approval is the Litecoin ETF from the decentralized exchange Canary, with a deadline of October 2. This is followed by asset management company Grayscale's conversions of Solana and Litecoin trusts, with a deadline of October 10, and finally, WisdomTree's XRP fund, with a deadline of October 24.
Decisions may be made at any time before the final deadlines.
Analysts from the Bitfinex cryptocurrency exchange predicted in August that a new altcoin season or rebound could be triggered by the approval of cryptocurrency ETFs, which provide investors with a lower-risk opportunity to engage with these tokens.
ETF analyst and president of NovaDius Wealth Management, Nate Geraci, stated in a post on X on Monday that it will be "an important few weeks for spot cryptocurrency ETFs" as all applications approach their deadlines.
"This week, the Canary spot Litecoin ETF faces its deadline. Decisions will then be made on the SOL, DOGE, XRP, ADA, and HBAR ETFs, although the SEC can approve any or all of them at any time," he added.
Meanwhile, cryptocurrency trader Daan Crypto Trades referred to October as "ETF month," but noted that two major players, Fidelity and BlackRock, are not on the list.
"None of the ETFs with October deadlines are issued by Fidelity or BlackRock, and these two are major players in the cryptocurrency ETF space. Regardless, this could be something to watch in the coming weeks," Daan Crypto Trades said.
In June, Seyffart estimated the probability of the SEC approving various cryptocurrency ETFs facing final deadlines in October at 90% or higher for some time in 2025.
The SEC delayed decisions on multiple cryptocurrency ETFs in 2025, setting several new deadlines; however, the regulatory body has also taken steps to shorten timelines and adopt a more favorable stance towards cryptocurrencies.
On September 17, the SEC approved new listing standards for commodity-based trust shares, which could shorten the path for future spot cryptocurrency ETFs to launch.
Seyffart stated at the time that this policy change would be a positive step towards a "wave of spot cryptocurrency ETP launches."
ETF analyst Eric Balchunas also speculated that more ETFs could be coming soon, noting that there are 22 tokens with futures on Coinbase "eligible for spot ETF conversion."
Since the change in listing standards, asset management company Hashdex has expanded its cryptocurrency ETF to include XRP, Solana, and Stellar (XLM).
Related: Analyst: Bitcoin (BTC) performance expected to mirror Nvidia, with significant pullback before new highs
Original article: “October to Become ‘ETF Month’: 16 Cryptocurrency Funds Await SEC Final Decision”
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