155 altcoin ETFs await SEC nod – Could approval ignite the next alt season?

Key Takeaways

Will the Adoption of Altcoin ETFs Trigger an Alt Season?

Sub-$100 billion liquidity and BTC dominance close to 60% nonetheless restrict upside, however an ETH-led restoration may change that.

What do analysts consider the large altcoin ETFs beneath evaluate?

Over 150 ETF filings led by Solana present that TradFi favors diversified publicity to crypto indices over particular person tokens.

The altcoin rush appears to be rising. Based on Bloomberg ETF analyst Eric Balchunas, there are 155 crypto ETPs awaiting purposes to trace 35 totally different digital belongings, largely dominated by Solana [SOL].

Solana filings awaiting the SEC’s choice had been 23, Ripple [XRP] and new Ethereum [ETH] purposes had been 20 and 10 respectively. Diversified or basket index that tracks a number of crypto belongings noticed vital curiosity from 10 issuers.

Balchunas added that this may very well be only the start of the crypto rush.

“We may simply see greater than 200 hit the market within the subsequent 12 months. Complete land rush.”

The extremely anticipated purposes reminiscent of Spot SOL and XRP ETFs had been anticipated to be signed in October. However the ongoing US authorities shutdown has disrupted the timeline.

Will SEC trigger an altcoin season?

Nevertheless, Nate Geraci of ETF Retailer says doubted that TradFi will leap over all these altcoins. As an alternative, he predicted they may go for indexes that observe a basket of crypto belongings.

“Trafi buyers are completely unwilling to navigate all these particular person tokens. They’ll take a diversified, shotgun method to an rising asset class.”

That mentioned, the latest altcoin sell-off subsided, as evidenced by the easing of the Altcoins Change Influx.

Easing of inflows, shrinking liquidity

Supply: CryptoQuant

Whereas this might enhance the probabilities of a broader altcoin market restoration, liquidity has fallen considerably since mid-October.

Stablecoin’s Change Influx, which tracks the ecosystem’s liquidity, fell beneath $100 billion for the primary time since July. Prior to now, liquidity declines have coincided Bitcoin [BTC] worth consolidation or pullbacks that additionally weighed on the altcoins.

For instance, within the first quarter of 2025, liquidity fell by half from over $160 billion to lower than $80 billion. The BTC worth fell by 30% from $109,000 to $70,000.

Supply: CryptoQuant

Curiously, the liquidity atmosphere improved within the second quarter and BTC additionally recovered to over $126,000, boosting a variety of altcoins reminiscent of Hyperfluid [HYPE] with it.

BTC’s dominance signifies a blended setup

One other altcoin seasonal tracker, BTC dominance, remained beneath 60% on the time of writing, suggesting an altcoin growth may very well be doubtless if liquidity improves and ETH leads the restoration.

Supply: TradingView (BTC dominance vs. ETH/BTC ratio)

In the meantime, the Altcoin Season Index reading was virtually impartial (at 43), indicating that it has been a stable BTC season.