彭博社分析师预测 Solana (SOL) 和 XRP ETF 的批准将被推迟

彭博社分析师预计加密货币 ETF 将错开推出，并预测莱特币 (LTC) 和 Hedera (HBAR) ETF 可能会先于 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.

彭博社分析师预测，由于其明确的监管地位，莱特币 (LTC) 和 Hedera (HBAR) ETF 将先于 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.

彭博社高级 ETF 分析师 Eric Balchunas 表示，预计 2025 年将出现一波基于加密货币的 ETF，但批准将分阶段进行。 Balchunas 指出，比特币和以太坊组合 ETF 可能会首先获得批准，其次是莱特币和 Hedera 产品。

“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.

“首先出现的可能是 BTC + ETH 组合 ETF，然后是 prob Litecoin（因为它是 BTC = 商品的分叉），然后是 HBAR（因为未标记为证券），然后是 XRP/Solana（在未决诉讼中已被标记为证券），”巴尔丘纳斯在推特上写道。

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，解释说 XRP 和 Solana ETF 申请可能需要等待即将到来的 SEC 政府，然后该机构才能考虑批准它们。

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.

这是因为 XRP 和 Solana ETF 的待决申请由于涉及诉讼和监管行动而面临复杂的法律障碍。

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，围绕 XRP 和 Solana ETF 批准的监管问题尤其与它们作为证券的分类有关，这使得它们的批准之路变得复杂化。

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.

美国证券交易委员会 (SEC) 一直在对 Ripple 提起诉讼，这是 XRP ETF 的主要障碍。 SEC 认为 XRP 是一种未注册的证券，而 Ripple 则坚称它是一种去中心化的数字资产。

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

这种法律上的不确定性使得 SEC 很难批准 XRP ETF，因为这可能使该机构面临法律挑战。

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 还面临监管审查，彭博社分析师指出，该代币作为证券的地位仍在争论中，这可能导致 ETF 的推出进一步推迟。

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，莱特币和 Hedera 受益于其明确的监管地位，都没有被 SEC 标记为证券。这使得莱特币和 Hedera ETF 获得批准的几率更高。

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，彭博社分析师还强调，只有 Canary Capital 申请了莱特币和 Hedera ETF，这可能表明资产管理公司对这些产品缺乏强劲的需求。

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，尽管存在监管障碍，包括 Bitwise、Grayscale 和 21Shares 在内的多家发行人已申请 Solana 和 XRP ETF。分析师认为，明确的监管地位对于 XRP 和 Solana 产品的发展至关重要。