Bloomberg forecasts that the chances of approval for ETFs on Litecoin and Solana are 90%. The U.S. Securities and Exchange Commission (SEC) plans to make decisions regarding new altcoin funds this fall.
This is reported by Finway
Eric Balchunas, an analyst at Bloomberg Intelligence, released new data on the likelihood of approval for spot ETFs on altcoins in the U.S. He noted that the ETFs for Litecoin (LTC) and Solana (SOL) have the highest chances of approval, each estimated at 90%.
Other Altcoins with High Chances of Approval
According to Balchunas, other cryptocurrencies with high chances of approval include:
- Ripple (XRP) — 85%;
- Hedera (HBAR) — 80%;
- Dogecoin (DOGE) — 80%;
- Cardano (ADA) — 75%;
- Polkadot (DOT) — 75%;
- Avalanche (AVAX) — 75%.
“I would be happy to hear directly from Paul Atkins, but all the odds look quite high,” Balchunas wrote, commenting on the SEC’s approach to crypto assets that operate on various consensus models.
Final decisions on most SEC applications are expected to be made in the fall of 2025. Meanwhile, the investment firm Canary Capital has submitted an application to launch an ETF based on the SEI token, called the Canary Staked SEI ETF.
“The fund will profit from participating in the staking of SEI tokens, with asset custody provided through Coinbase Custody and BitGo,” the documentation states.
The launch of such a product could set a precedent for other blockchains with Proof-of-Stake (PoS) mechanisms. At the same time, the SEC has postponed consideration of ETF applications for DOT and HBAR from Grayscale Investments and Canary Capital. The Nasdaq exchange has also submitted a second application for a Dogecoin ETF from 21Shares.