Forecasted Timeline for XRP, Dogecoin, Litecoin, and Solana Spot Exchange-Traded Funds Provided by Analyst
Crypto Enthusiasts Buckle Up for Summer as SEC Mulls Over Major Altcoin ETFs
The world of cryptocurrency has been abuzz with anticipation this year, thanks to the U.S. Securities and Exchange Commission (SEC) giving the green light to Bitcoin and Ethereum ETFs. As the regulatory landscape continues to soften, the expectation for altcoin ETF approvals is on the rise.
Currently, there are over 70 proposals for crypto ETFs sitting on the SEC's desk. At the Token2019 conference in Dubai, analyst Eric Balchunas from Bloomberg suggested that several ETF proposals, focusing on large altcoins like Litecoin (LTC), Ripple (XRP), Solana (SOL), and Dogecoin (DOGE), could potentially be approved as early as this summer.
Relatedly, the prediction market platform Polymarket's data estimates that the probability of XRP ETF approval by the end of the year stands at a promising 79%. However, as of July 31, that figure has dropped slightly to 42%. Ripple, which is leading the projects with the most ETF proposals, has only secured approval for ETFs based on futures contracts so far, with spot products still awaiting the go-ahead.
As for Dogecoin, the likelihood of ETF approval by year's end is 68%, although approval chances dip below 25% by the end of July. For Solana, these figures are 78% and 30%, respectively. Litecoin follows a similar trend with a 78% chance of ETF approval by year-end and 24% by July end.
With the SEC's decisions expected this summer, crypto investors and corporate players are keeping a close eye on the developments.
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According to recent Enrichment Data: - Ripple (XRP) has a delayed spot ETF decision until June 17, 2025, although analysts note this is standard procedure. - Six applications for Solana (SOL) ETFs are pending, with Bloomberg estimating a 75-85% approval rate. - Litecoin (LTC) has a strong chance of approval in 2025, ranking third after SOL and XRP. - Dogecoin (DOGE) is listed among delayed ETFs but still has notable approval expectations compared to SOL/XRP. - Key players, such as Franklin Templeton ($1.5T AUM), are leading filings for XRP and SOL ETFs, while Grayscale seeks to convert its Solana Trust (GSOL) into a spot ETF.
- Crypto enthusiasts eagerly await the SEC's decisions on major altcoin ETFs, such as Litecoin (LTC), Ripple (XRP), Solana (SOL), and Dogecoin (DOGE), which could potentially be approved as early as this summer.
- Polymarket's data indicates a promising 79% probability of XRP ETF approval by the end of the year, although this figure has dropped slightly to 42% as of July 31.
- For Solana (SOL), six applications for ETFs are currently pending, with analysts estimating a 75-85% approval rate.
- Crypto investors and corporate players are closely watching the SEC's decisions, as the world of finance prepares for the potential influx of capital from investing in these altcoin ETFs through technology.
