Analysts slap over 90% chance of approval on altcoin ETFs including XRP and Litecoin following SEC's engagement

Altcoin exchange-traded funds (ETFs) received a boost in approval odds on Friday from Bloomberg analysts James Seyffart and Eric Balchunas, with most of them now having a 90% chance of approval.

Bloomberg analysts predict 90% approval odds on altcoin ETFs

As the crypto industry awaits the Securities and Exchange Commission's (SEC) decision on crypto ETFs, Bloomberg analysts James Seyffart and Eric Balchunas have increased their approval odds for several altcoin ETF filings. The chances of approval for most of the ETF filings have risen to over 90%, except for SUI ETF filings.

"Eric Balchunas & I are raising our odds for the vast majority of the spot crypto ETF filings to 90% or higher," said James Seyffart in an X post on Friday.

Bloomberg analysts had previously raised their odds for the approval of most altcoin ETFs in April. The change in odds is mostly focused on altcoin ETFs with 19b-4 filings, according to Seyffart.

The new forecast predicts that Litecoin (LTC), Solana (SOL), and XRP ETF filings have a 95% chance of approval. Others, including Dogecoin (DOGE), Cardano (ADA), HBAR, and Avalanche (AVAX) filings, have been placed with 90% approval odds.

With more than 20 altcoin ETF filings awaiting the SEC's decision, the increased odds suggest a high probability that most of these products will receive a green light from the agency.

The increase aligns with the SEC's recent engagement with the ETF filings over the past few weeks. Regulators asked proposed issuers of spot Solana ETFs to update their S-1 filings and include details on their staking plans earlier this month.

Likewise, the SEC requested public comments on Franklin Templeton's ETF filings for Solana and XRP. The review process extended the deadline for a decision by 35 days, pushing the expected ruling to July.

The SEC also held a roundtable on decentralized finance (DeFi), focusing on how DeFi aligns with American values such as economic liberty and innovation. The event particularly focused on subjects such as regulatory hindrances to smart contracts and digital asset innovation.

Seyffart notes that the exact timing of when these ETFs might be approved or launched is uncertain.

"The timing of these approvals/launches is more uncertain. Could be something we're talking about in the next month or two. Or it could be something that waits until October or later. Matter of when not if," noted Seyffart in a Friday X post.