October is ‘ETF month’ as 16 crypto funds await final decision

October is poised to be a significant month for the cryptocurrency market as the U.S. Securities and Exchange Commission (SEC) prepares to make decisions on 16 cryptocurrency exchange-traded funds (ETFs). Nate Geraci, president of NovaDius Wealth Management, highlighted the importance of the upcoming weeks, particularly with the first deadline for approval due on October 2 for Canary's Litecoin ETF. Subsequent decisions will pertain to Grayscale's Solana and Litecoin trust conversions by October 10 and WisdomTree's XRP fund by October 24. Analysts suggest that the approval of these ETFs could trigger a new wave of investment in altcoins, with expectations of a 90% likelihood of SEC approvals by 2025, according to Bloomberg ETF analyst James Seyffart. Geraci noted that, while several funds are set for decision, notable players like Fidelity and BlackRock are absent from this group. The SEC's efforts to streamline the ETF approval process may indicate a trend toward increased availability of spot crypto ETFs going forward, as regulatory conditions evolve.

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