Crypto ETFs see rising approval odds

The SEC is increasingly likely to approve spot ETFs for Litecoin (CRYPTO:LTC), Dogecoin (CRYPTO:DOGE), Solana (CRYPTO:SOL), and XRP (CRYPTO:XRP), potentially expanding access to digital assets beyond Bitcoin and Ethereum.

Bloomberg analysts James Seyffart and Eric Balchunas have increased the odds of approval for new cryptocurrency ETFs.

Balchunas estimates Litecoin ETFs have a 90% chance of approval, followed by Dogecoin at 75%, Solana at 70%, and XRP at 65%.

Balchunas noted that these odds have risen sharply in recent months, particularly since Donald Trump’s presidential election victory.

“Keep in mind all of this stuff (except Litecoin, which was always high) was <5% prior to the election,” he stated.  

Seyffart cautioned that XRP’s legal battle with the SEC could delay ETF approval.  

“Until that whole mess of litigation between Ripple/XRP and the SEC is settled and/or finished or has some sort of expected outcome, you likely won’t see an ETF,” he said.

NYSE Arca has filed an application on behalf of Grayscale to launch a Cardano (CRYPTO:ADA) spot ETF.

If approved, it would be the first ETF linked to Cardano.

NYSE Arca stated that listing a Cardano ETF would increase competition and provide investors with access to a broader range of digital assets.

Trump’s return to office has coincided with a more favorable stance toward crypto regulation, encouraging issuers to push ahead with new ETF filings.