“Altcoin ETF Summer” Looms as Ethereum Breakout Signals a Market-Wide Rally

The cryptocurrency market has slipped into the red over the past 24 hours. Popular altcoins like Solana (SOL), XRP, Sui (SUI), and Cardano (ADA) have dropped between 2% to 4%. While Bitcoin and Ethereum have stayed in the spotlight for months, the altcoin market has mostly moved sideways, waiting for its chance to shine.

Now, signs are growing that big changes might be on the way. There’s rising excitement about the possible approval of altcoin ETFs, financial products that would make it easier for investors to put money into coins like Solana, Cardano, and others through regulated platforms. If this happens, it could bring in a wave of new money and interest, finally starting a proper altcoin bull market.

Many in the crypto space are already calling this moment ’ According to Bloomberg analysts, Solana and Litecoin are leading with a 90% chance of approval. Other popular altcoins like Cardano, XRP, Polkadot, Avalanche, and Sui are also in the race.

A big update is that NASDAQ has filed to expand its cryptocurrency index from five to nine coins. This shows that regulators are starting to trust more altcoins and that there’s enough trading activity to include them in official financial products, just like what happened with Bitcoin and Ethereum before their ETFs got approved.

Additionally, 21Shares has officially applied for a Sui ETF with the U.S. SEC, starting its approval process. There are also some important dates to watch: the final decision for a Cardano ETF is expected on October 23, 2025, and a decision on an altcoin basket ETF (which would include multiple coins) could come by July 2, 2025.

History shows that a true altcoin season is often led by a strong rally in Ethereum, and ETH’s price chart is now flashing major bullish signals. Right now, Ethereum has broken through important resistance levels it hasn’t crossed in months, and the market is starting to look like it did in November 2024, just before a major crypto rally.

ETH has reclaimed key moving averages on the weekly chart, climbing back above the $2,600–$2,700 zone, where it faced weeks of resistance. If Ethereum can close strongly above $2,700 and keep this momentum going, the next targets for ETH are $3,000 and higher. If this pattern holds, the broader crypto market could be gearing up for a new bull run led by Ethereum.