Bloomberg analysts James Seyffart and Eric Balchunas reported an increase in the probability of the SEC approving spot ETFs for XRP, Litecoin, and Solana to 95%. The SEC is expected to make a decision in October.
Updated ETF Projections
In a recent post on X, the analysts raised their odds for approval from 90% to 95%. CITE_W_A Seyffart commented, 'We expect a wave of new ETFs in the second half of 2025.'
Other ETF Proposals
The analysts also assigned a 90% probability for ETFs tied to Dogecoin, Cardano, Polkadot, Hedera, and Avalanche. Meanwhile, filings from Canary Capital for Sui and Tron were given lower estimates of 60% and 50% respectively, as they do not yet have any CFTC-regulated futures products and it is unclear whether the SEC considers them securities.
Market Developments for ETFs
The first U.S.-based staked crypto ETF is set to launch this Wednesday, allowing investors to earn yield from staking Solana. However, the SEC has yet to move forward with approving Ethereum staking ETFs and has delayed decisions on several other products.
The situation in the ETF market remains dynamic, and expectations for the approval of new financial instruments for crypto assets are growing. Investors are optimistic ahead of the SEC's upcoming decisions.
