彭博分析師預測 Solana (SOL) 和 XRP ETF 的批准將被推遲

彭博分析師預計加密貨幣 ETF 將錯開推出，並預測萊特幣 (LTC) 和 Hedera (HBAR) ETF 可能會先於 Solana (SOL) 和 XRP ETF 推出。

Bloomberg analysts have predicted that Litecoin (LTC) and Hedera (HBAR) ETFs will launch before Solana (SOL) and XRP ETFs due to their clear regulatory standing.

彭博分析師預測，由於其明確的監管地位，萊特幣 (LTC) 和 Hedera (HBAR) ETF 將先於 Solana (SOL) 和 XRP ETF 推出。

According to Bloomberg Senior ETF Analyst Eric Balchunas, a wave of crypto-based ETFs is expected in 2025, but approvals will occur in stages. Balchunas noted that Bitcoin and Ethereum combination ETFs are likely to be approved first, followed by Litecoin and Hedera products.

彭博社高級 ETF 分析師 Eric Balchunas 表示，預計 2025 年將出現一波基於加密貨幣的 ETF，但批准將分階段進行。 Balchunas 指出，比特幣和以太坊組合 ETF 可能會先獲得批准，其次是萊特幣和 Hedera 產品。

“First out is likely the BTC + ETH combo ETFs, then prob Litecoin (bc its fork of BTC = commodity), then HBAR (bc not labeled security) and then XRP/Solana (which have been labeled securities in pending lawsuits),” Balchunas wrote on Twitter.

「首先出現的可能是BTC + ETH 組合ETF，然後是prob Litecoin（因為它是BTC = 商品的分叉），然後是HBAR（因為未標記為證券），然後是XRP/Solana（在未決訴訟中已被標記為證券），」巴爾丘納斯在推特上寫道。

However, Bloomberg’s James Seyffart provided additional context, explaining that the XRP and Solana ETF applications may have to wait for the upcoming SEC administration before the agency can consider approving them.

然而，彭博社的 James Seyffart 提供了更多背景信息，解釋說 XRP 和 Solana ETF 申請可能需要等待即將到來的 SEC 政府，然後該機構才能考慮批准它們。

This is because the pending applications for XRP and Solana ETFs are facing complex legal hurdles due to the tokens being involved in lawsuits and regulatory actions.

這是因為 XRP 和 Solana ETF 的待決申請由於涉及訴訟和監管行動而面臨複雜的法律障礙。

According to Seyffart, the regulatory questions surrounding XRP and Solana ETF approval are particularly related to their classification as securities, which is complicating their path to approval.

Seyffart 表示，圍繞 XRP 和 Solana ETF 批准的監管問題尤其與它們作為證券的分類有關，這使得它們的批准之路變得複雜化。

The U.S. Securities and Exchange Commission (SEC) has been engaged in an ongoing lawsuit against Ripple, which is a major roadblock for XRP ETFs. The SEC argues that XRP is an unregistered security, while Ripple maintains that it is a decentralized digital asset.

美國證券交易委員會 (SEC) 一直在對 Ripple 提起訴訟，這是 XRP ETF 的主要障礙。 SEC 認為 XRP 是一種未註冊的證券，而 Ripple 則堅稱它是一種去中心化的數位資產。

This legal uncertainty is making it difficult for SEC to approve XRP ETFs, as it could expose the agency to legal challenges.

這種法律上的不確定性使得 SEC 很難批准 XRP ETF，因為這可能會使該機構面臨法律挑戰。

Solana also faces regulatory scrutiny, with Bloomberg analysts noting that the token’s status as a security is still being debated, which could lead to further delays in ETF launches.

Solana 也面臨監管審查，彭博分析師指出，該代幣作為證券的地位仍在爭論中，這可能導致 ETF 的推出進一步推遲。

In contrast, Litecoin and Hedera have benefited from their clear regulatory standing, with neither being labeled as securities by the SEC. This has given rise to better odds of approval for Litecoin and Hedera ETFs.

相比之下，萊特幣和 Hedera 受益於其明確的監管地位，都沒有被 SEC 標記為證券。這使得萊特幣和 Hedera ETF 獲得批准的幾率更高。

However, Bloomberg analysts also highlighted that only Canary Capital has filed for Litecoin and Hedera ETFs, which could indicate a lack of strong asset manager demand for these products.

然而，彭博社分析師也強調，只有 Canary Capital 申請了萊特幣和 Hedera ETF，這可能表明資產管理公司對這些產品缺乏強勁的需求。

On the other hand, multiple issuers, including Bitwise, Grayscale, and 21Shares, have filed for Solana and XRP ETFs, despite the regulatory hurdles. Analysts believe that clear regulatory status will be crucial for XRP and Solana products to advance.

另一方面，儘管存在監管障礙，包括 Bitwise、Grayscale 和 21Shares 在內的多家發行人已申請 Solana 和 XRP ETF。分析師認為，明確的監管地位對於 XRP 和 Solana 產品的發展至關重要。