Bloomberg analysts indicate a significant increase in the likelihood of multiple crypto ETF approvals in the US, reflecting a positive shift within the SEC.
Analysis of Crypto ETF Approval Odds
Bloomberg analysts Erich Balchunas and James Seyffart have raised their odds for most crypto ETF approvals to '90% or higher.' Seyffart noted this increase is due to 'very positive' engagement from the SEC.
Success of Bitcoin ETFs and Market Influence
The success of Bitcoin ETFs has sparked interest among asset managers in launching altcoin ETFs. BlackRock's iShares Bitcoin Trust has become the most successful, surpassing 70 billion dollars in assets within 341 days. However, replicating this success with Ether ETFs remains challenging.
Upcoming Crypto ETF Proposals
Investors are closely monitoring new ETF proposals, including those for XRP and SOL by Franklin Templeton, which are currently open for SEC public comments. However, Bitcoin is likely to maintain its dominance in the ETF market.
The increased likelihood of crypto ETF approvals indicates an ongoing shift in the SEC's stance toward cryptocurrencies, opening new investment opportunities.
