Bloomberg Analysts: Spot Altcoin ETFs Have Over 90% Chance of Approval This Year

Spot Altcoin ETFs Near Approval as SEC Shifts Stance

The cryptocurrency sector may soon witness a major development, as Bloomberg analysts now estimate the probability of approval for spot altcoin ETFs has surpassed 90%. This major leap in confidence comes after a series of constructive interactions between the U.S. Securities and Exchange Commission (SEC) and firms seeking to launch exchange-traded funds (ETFs) for leading altcoins.

Bloomberg Experts Signal Growing Optimism for Altcoin ETFs

James Seyffart, ETF analyst at Bloomberg, announced on X (formerly Twitter) that he and his colleague Eric Balchunas now see the chances of seeing spot ETFs for most major altcoins approved this year as greater than 90%. Seyffart highlighted that "the SEC’s recent engagement with applicants is an extremely positive sign, suggesting the regulatory environment for digital asset funds is rapidly evolving."

Just two weeks ago, the outlook for spot ETF approval for digital assets such as Ripple (XRP), Dogecoin, and Cardano was notably less optimistic, with odds estimated under 90%. However, Seyffart and Balchunas now include these cryptocurrencies, along with Litecoin, Solana, Polkadot, and Avalanche, among those with excellent prospects of gaining SEC approval for a spot ETF in the near future.

SEC Requests Updates to Solana ETF Applications

Currently, dozens of applications for spot ETFs covering a range of cryptocurrencies await SEC review. Observers attribute the regulatory shift to leadership changes under Paul Atkins since April, with the agency signaling a more open and supportive approach toward digital assets.

Recent reports indicate that the SEC has requested Solana ETF applicants to update their S-1 filings earlier this month. According to experts, these requests could be strong indicators that official approval is approaching.

Until now, the SEC has only authorized spot ETFs for Bitcoin and Ethereum—products that have attracted tens of billions of dollars in investments. Approval of spot altcoin ETFs could pave the way for even greater institutional participation in the crypto market and further legitimize digital assets as mainstream investment vehicles.