Bloomberg analysts predict an increase in the likelihood of new crypto ETF approvals in the U.S., which may significantly impact the market.
Likelihood of Crypto ETFs Approval Increases
Bloomberg analysts stated that the probability of approving most crypto ETF applications has risen to 90% or more. Recently, in a post on X, ETF analyst James Seyffart expressed confidence that the SEC's engagement with ETF applications is a positive signal.
SEC Signals New Attitude
The growing confidence in ETF approval coincides with leadership changes at the SEC. Paul Atkins has become the new chairman, announcing a more open and supportive approach to digital assets. Earlier, the SEC asked companies applying for Solana ETFs to update their S-1 forms, indicating readiness to move forward.
Current Situation of Crypto ETFs in the U.S.
Currently, the SEC has only approved ETFs for Bitcoin and Ethereum. However, the potential approval of additional altcoin ETFs may facilitate market entry for new investors. Countries like Brazil and Canada have already approved XRP ETFs, while the U.S. remains hesitant.
The increase in the likelihood of approving new crypto ETFs could alter the market dynamics and attract new investments in digital assets.
