Litecoin ETF Leads with 90% Approval Odds While XRP ETFs Lag Behind

Bloomberg Analysts Predict Cryptocurrency ETF Approvals

Litecoin ETFs Lead with High Approval Odds

Bloomberg analysts James Seyffart and Eric Balchunas have forecast high approval probabilities for altcoin-based exchange-traded funds (ETFs). Litecoin (LTC) ETFs have a promising 90% approval rating, due to the SEC classifying it as a commodity.

Dogecoin ETFs Show Strong Likelihood

Grayscale and Bitwise-backed Dogecoin (DOGE) ETFs have a 75% probability of approval. Similar to Litecoin, the SEC views Dogecoin as a potential commodity, enhancing its regulatory prospects.

Moderate Odds for Solana and XRP ETFs

Solana (SOL) ETFs have a 70% approval chance, despite the SEC not classifying Solana as a commodity. Multiple issuers, including Grayscale and VanEck, have filed for Solana ETFs, increasing their chances of acceptance.

XRP (XRP) ETFs have received a relatively lower approval probability of 65%, the lowest among the analyzed assets. The SEC has yet to acknowledge 19b-4 filings for XRP ETFs, which have been submitted by various companies.

SEC Crypto Task Force Impact

Analysts predict that the SEC's Crypto Task Force, headed by Commissioner Hester Peirce, will clarify the classification of digital assets by the end of 2025. This distinction between commodities and securities could directly influence the approval odds for commodity-based ETFs like those for Litecoin and Dogecoin.

Other Notable News

South Korea is facing pressure to introduce crypto ETFs to maintain its competitiveness in the market.