Bloomberg Analyst Evaluates SEC's Recent Decisions, Shares Latest Predictions for XRP, Solana, and Litecoin Spot ETFs!

The SEC's approval of Bitcoin and Etheruem ETFs and the new SEC administration's positive approach to the cryptocurrency sector have enabled ETF applications for many altcoins.

At this point, while ETF applications are being made for altcoins such as XRP, Solana (SOL), Litecoin (LTC), Dogecoin (DOGE), analysts currently think that LTC has a higher chance of receiving ETF approval.

Bloomberg analysts Eric Balchunas and James Seyffart published a report last week specifically listing the approval possibilities of Litecoin, Solana, XRP and Dogecoin ETFs and the deadlines for a decision by the SEC.

Accordingly, analysts determined the probability and dates as 90% – 02/10/2025 for Litecoin; 70% – 10/10/2025 for Solana; 65% – 17/10/2025 for XRP and 75% – 18/10/2025 for Dogecoin.

While the SEC recently accepted the evaluation of XRP ETF applications, Bloomberg analyst Eric Blachunas made important statements in a podcast he attended yesterday.

Balchunas noted that the SEC’s decision to consider XRP ETFs is a significant development, as it means that XRP and other altcoins with ETF applications may no longer be classified as securities by the SEC.

Balchunas also stated that this situation also points to a change in the way cryptocurrencies are handled in the US, and added that the ongoing crypto cases filed by the SEC will also be re-evaluated.

Will Altcoin ETF Approval Come in 2025?

Eric Balchunas also discussed the potential for other altcoins like Dogecoin and Cardano to follow suit with the XRP ETF.

The analyst said that while the SEC's latest move is an encouraging sign, there is still uncertainty about when a final decision will be made, and the small possibility of not approving it should not be ignored.

Opening a separate parenthesis for Litecoin, the analyst stated that LTC is the altcoin with the highest probability of ETF approval because it is similar to Bitcoin and is seen as a commodity, and they expect the LTC ETF to be approved in 2025.

Finally, touching on XRP and Solana, Balchunas said that while there is more uncertainty for SOL and XRP ETFs, the SEC's latest move paves the way for more filings and decisions in the coming months.

*This is not investment advice.