Analysts say U.S. regulators are very likely to approve many crypto ETFs soon.
- Bloomberg raises crypto ETF approval odds to 90% or higher.
- SEC signals friendlier stance toward coins like SOL, XRP, and DOGE.
- Investors await decisions on ETFs for altcoins like Litecoin and Solana.
SEC Moves Closer to Approving More Crypto ETFs
Two analysts from Bloomberg believe the U.S. is close to approving many new crypto ETFs. Erich Balchunas and James Seyffart said the chances are “90% or higher.” They shared this in a social media post on Friday. They based this on what they see as “very positive” talks between the SEC and ETF issuers.
ETFs are funds that let people invest in assets like crypto without owning the actual coins. If approved, these would bring new ways for people to invest in cryptocurrencies like Solana, XRP, and Dogecoin.
Some Coins May Be Treated as Commodities
The analysts also think the SEC may view coins like Litecoin, Solana, XRP, and Dogecoin as commodities. If true, this means they’re not viewed the same way as securities, which the SEC controls more closely. This could help these coins get ETF approval faster.
Investors Watch as Asset Managers Compete
More financial companies want to launch crypto ETFs because the Bitcoin ETF has done very well. BlackRock’s iShares Bitcoin Trust became the fastest U.S. ETF to reach $70 billion in assets. That happened in just 341 days. It saw 31 days of straight inflows, meaning money kept coming in every day.
Now, companies hope to repeat this success with ETFs that track altcoins like XRP and Solana. The SEC has opened the comment period for these proposals. That’s a step toward approval, but the launch date is still unclear and may take months.
Ether ETFs Still Struggle
Not all ETFs have found success. Those based on Ethereum (ETH) haven’t done as well. In fact, many Ether ETF investors are currently at a loss. Even so, demand for other cryptocurrencies may grow in the future.
Source: cointelegraph.com
