Bloomberg analysts see 90% chance of US SEC approving altcoin ETFs

The crypto industry is now awaiting the US Securities and Exchange Commission's (SEC) decision on exchange-traded funds (ETFs) on altcoins. Meanwhile, Bloomberg analysts James Seyffart and Eric Balchunas say the odds of most filings being approved have risen to 90%.

According to the new forecasts, the SEC will greenlight ETFs on Litecoin, Solana, and XRP with a 95% chance. Other filings, including those to launch exchange-traded funds on Dogecoin, HBAR, Cardano, and Avalanche, are 90% likely to be approved.

The shift in forecasts reflects recent actions by the SEC. Earlier in June, the Commission asked issuers of Solana ETFs to update their filings and add details on staking plans.

Besides, the SEC requested public comment on Franklin Templeton’s applications to launch exchange-traded funds backed by XRP and Solana. The Commission also held a roundtable discussion on decentralized finance, focusing on subjects such as regulatory barriers to innovation in smart contracts and digital asset.

However, James Seyffart notes that the exact timing of these ETFs’ approval and launch remains unknown.