Analyst: 'Summer of counterfeit products ETFs' could come in July with SEC approval

Analysts say the Securities Exchange Commission could start approving some cryptocurrency-linked exchange traded funds as soon as next month, kicking off a "summer of counterfeit products ETFs".
Eric Balchunas, a senior ETF analyst at Bloomberg, posted a memo from his colleague James Seyffart on the X platform (formerly Twitter) on Tuesday, in which he noted: "ETFs tracking broad cryptocurrency indices may receive SEC approval next month."
The memo added that the SEC could also "move ahead" in processing Solana and pledged ETF applications, with Mr. Balciunas saying: "Get ready for a potential summer of counterfeit products ETFs, with Solana likely to lead the way."