Analyst: If both a Shitcoin ETF and a Bitcoin ETF are approved simultaneously, the "long SOL/short LTC" strategy will be quite attractive

On October 1st, the cryptocurrency market research firm K33 Research stated in its latest report that following the SEC's approval of the Generic Listing Rules, altcoins such as Solana and Litecoin are expected to launch spot ETFs in the coming weeks (with the government shutdown potentially delaying the timeline). K33 Research Director Vetle Lunde said that within 200 trading days after the conversion of Bitcoin and Ethereum ETFs, the scale of Grayscale Trust's releases was equivalent to 50% of its nominal AUM. "In small-cap altcoins, the percentage difference in Grayscale's holdings of the circulating supply, although small, is crucial and creates opportunities for long and short strategies." The analyst explained that Solana and Litecoin are the most comparable. Both have been traded publicly in recent years, while Grayscale's XRP and Dogecoin products are structured as private placements. Grayscale's Solana Trust holds only 0.1% of the circulating SOL supply and has never traded at a discount, indicating little post-conversion selling pressure. Meanwhile, multiple SOL ETF applications and large digital asset treasury strategies further support demand. In contrast, Grayscale has controlled 2.65% of Litecoin's circulating supply, and its trust has frequently traded at a deep discount - more similar to the previous GBTC and ETHE conversions. Coupled with fewer issuer applications for an LTC ETF, Lunde believes that if ETFs are listed simultaneously, a "long SOL/short LTC" strategy may be very attractive.