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Bloomberg Analysts Reveal Prediction For Solana, XRP, Dogecoin, & Litecoin ETFs

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1 month ago

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Bloomberg analysts James Seyffart and Eric Balchunas have revealed their predictions for the Solana, XRP, Dogecoin, and Litecoin ETFs. As part of their predictions, they outlined the approval odds for each of these crypto ETFs.

Bloomberg Analysts Give Take On Crypto ETFs

In an X post, Bloomberg analyst James Seyffart stated that he and Eric Balchunas were putting out relatively high odds of approval across the board with a focus on Solana, XRP, Dogecoin, and Litecoin for now.

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These Bloomberg analysts put the odds of approval for Solana ETFs at 70% in 2025. Meanwhile, they put the approval odds for XRP, Dogecoin, and Litecoin ETFs at 65%, 75%, and 90%, respectively.

These analysts had previously predicted that the US Securities and Exchange Commission (SEC) would likely approve a Litecoin ETF first because of its non-security status. Moreover, the Commission is already engaging with Canary Capital on its Litecoin ETF. So far, Canary, Grayscale, and CoinShares are the three issuers that have filed to offer a Litecoin ETF.

Dogecoin ETFs have higher odds than the Solana and XRP ETFs because these analysts believe that there is a huge likelihood that the SEC also views the top meme coin as a commodity, like Litecoin. However, the Solana ETFs have an edge over the Dogecoin ETFs as the US SEC has acknowledged the 19b-4s for the former.

Why XRP ETFs Have The Lowest Approval Odds

The Bloomberg analysts explained that the XRP ETFs have the lowest approval odds because of the Ripple SEC lawsuit. According to them, the SEC is unlikely to approve an XRP ETF until it settles the litigation against Ripple.

This comes just as legal expert Jeremy Hogan predicted that the Ripple lawsuit would end before the XRP ETF approval. The lawyer explained that he holds this opinion because of how long it takes before the Commission approves such funds. Legal expert Marc Fagel previously predicted that the Ripple SEC case could end as soon as Paul Atkins takes office as the SEC Chair.

Paul Atkins’ Confirmation Could Still Take A While

The US Senate would need to confirm Paul Atkins before he can assume office as the SEC Chair. In an X post, FOX journalist Eleanor Terrett explained how this could still take a while.

She mentioned that the Senate needs to approve dozens of new administration members, and cabinet members are usually the first to get confirmed. Currently, the Senate still needs to decide on nine cabinet members.

As such, Atkins’ confirmation is unlikely to happen anytime soon. The US SEC Chair nominee will need to have his hearing before the Banking Committee, although a date has not been set. The Senate will proceed to vote if his nomination advances out of the committee.

The journalist mentioned that the Senate didn’t confirm former SEC Chair Gary Gensler until April 2021 despite being nominated by Joe Biden in January. Similarly, Gensler’s predecessor, Jay Clayton, wasn’t confirmed until May 2017 after Donald Trump nominated him in January 2017.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Regulation

Coinbase Chief Legal Officer Criticizes The FDIC’s Response To FOIA Request

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6 hours ago

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March 15, 2025

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The Federal Deposit Insurance Commission (FDIC) has filed a response to Coinbase’s request for information under the Freedom of Information Act (FOIA). Coinbase says the response is far from sufficient as it pledges to heighten its quest for additional information.

Coinbase Takes Swipes At FDIC’s Response To FOIA Request

Following a FOIA request filed by US-based cryptocurrency exchange Coinbase, the FDIC has released a raft of documents. However, Coinbase Chief Legal Officer Paul Grewal disclosed that the documents released by the FDIC contain too little information.

Grewal took to X (formerly Twitter) to criticize the FDIC for dragging its feet to release necessary information. According to the FOIA filing, Coinbase is seeking information into the FDIC’s role in Operation Choke Point 2.0 and the “debanking of crypto companies.”

Grewal notes that the FDIC is withholding information, particularly regarding its conduct of due diligence to ensure that Operation Chokepoint 2.0 documents remain preserved. Coinbase has filed a similar

The executive disclosed that the latest batch of documents contained several redactions that revealed “much too little, much too late.”

“They removed a few redactions, produced a few more documents, and promised another “renewed search” for other documents,” said Grewal.

The US SEC Has To File Its Own Response To FOIA Requests

Coinbase has extended its crusade against regulators by filing a FOIA request against the SEC. According to the filing, Coinbase is seeking clarification over the cost of the SEC’s enforcement actions against cryptocurrency companies.

“The previous SEC spent four years attacking a lawful industry, and American taxpayers were left holding the bill,” read a statement. “How much did you end up paying? We intend to find out.”

Pundits say the SEC’s enforcement actions against heavy hitters in the industry could cost millions of dollars. Furthermore, a reliance on third-party contractors by the SEC in the cases are expected to drive up the bill.

Coinbase’s request comes on the heels of high-profile case dismissals against cryptocurrency service providers. The SEC’s dismissal of Kraken’s case and the lawsuit against Coinbase are considered a monumental waste of public resources by the securities watchdog.

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Ripple Secures DFSA License in the UAE

Published

2 days ago

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March 13, 2025

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An image of the Dubai International Financial Centre

  • Ripple has secured a major license in the Middle East after getting regulatory nod from the Dubai Financial Services Authority (DFSA).
  • The license allows Ripple to offer regulated crypto payments and services within the Dubai International Finance Centre (DIFC).

Ripple announced on March 13, 2025 that it had secured a major license in the Middle East.

The Dubai Financial Services Authority (DFSA) has greenlit Ripple to offer regulated crypto payments and services within the Dubai International Finance Centre (DIFC).

Ripple becomes the first blockchain-enabled payments provider to snag this crucial DFSA license.

Ripple secures license in Middle East milestone

This DFSA approval marks another of Ripple’s footprint in the Middle East, with this adding to a presence that includes major partnerships in the region.

It enhances the XRP creator’s recognition and aligns with Ripple’s plans to add to its global customer base. The license also means a potentially massive opportunity for XRP adoption.

“We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption,” said Brad Garlinghouse, chief executive officer of Ripple. “Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit.”

A 2024 Ripple survey found 64% of finance leaders in the Middle East and Africa (MEA) see faster payments as the killer app for blockchain-based currencies. No surprise, then, that over 82% of MEA finance bosses say they’re “very or extremely confident” about integrating this tech into their operations.

“Dubai and the broader UAE have established themselves as leaders in fostering a progressive and well-defined regulatory framework for digital assets,” said Reece Merrick, Ripple’s managing director for Middle East and Africa.

Merrick added;

“Securing this DFSA license is a major milestone that will enable us to better serve the growing demand for faster, cheaper and more transparent cross-border transactions in one of the world’s largest cross-border payments hubs.”

This license will be great for Ripple’s stablecoin RLUSD, which the company launched late last year. Like other stablecoins, RLUSD could supercharge crypto adoption in the UAE, with users accessing real-time settlement for cross-border payments and remittances.

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OKX Expands Institutional Offerings In Europe With MiFID II License

Published

3 days ago

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March 12, 2025

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OKX crypto exchange has acquired a Markets in Financial Instruments Directive (MiFID II) license by acquiring a Malta-licensed entity. This move allows the company to introduce regulated derivative products and services for institutional clients across the European Economic Area (EEA), pending Malta Financial Services Authority (MFSA) approval.

The regulation news was made during an exclusive event on Manoel Island, Malta, as part of OKX’s strategy to strengthen its presence in the European market.

OKX Acquires MiFID II License To Expand In Europe

According to a recent announcement, OKX secured a MiFID II license through the acquisition of a Malta-based firm that holds the regulatory approval. The entity will become operational later this year after receiving clearance from the Malta Financial Services Authority (MFSA).

The MiFID II license will allow OKX to introduce regulated derivatives and investment solutions for institutional clients across the EEA. This move will enhance institutional market access while maintaining compliance with European financial regulations.

Previously, OKX received a full Markets in Crypto-Assets (MiCA) license, enabling the exchange to provide localized crypto trading services across 30 EU member states. The MiCA license supports various offerings, including spot trading, over-the-counter (OTC) trading, and automated trading solutions.

Amid these regulation news, earlier this month, top crypto exchange Binance announced that it would be delisting all non-MiCA-compliant stablecoin trading pairs for users in the EEA.

Institutional Offerings With Regulatory Compliance

OKX’s expansion under MiFID II aims to align digital assets with traditional financial markets. The company intends to provide institutional-grade services that meet European compliance standards. The newly acquired license will help OKX partner with tier-one financial institutions and introduce new regulated investment products.

With the MiFID II approval, OKX plans to integrate additional risk management features and trading solutions tailored for institutional investors. The exchange seeks to offer advanced derivatives products while ensuring security in line with European regulations.

Additionally, OKX’s institutional clients will gain access to new derivatives trading services under the MiFID II license. The platform currently supports trading for over 240 cryptocurrency tokens, 300 trading pairs, and 60 euro-based trading pairs.

Concurrently, the top crypto exchange plans to expand its fiat on-ramp options. The company allows users to deposit and withdraw euros at no cost through bank transfers while supporting card payments and other local payment methods.

More so, the exchange’s website and mobile app are designed to support local languages, currency displays, and customer service tailored to each European market. The company is set to introduce more localized services, including streamlined Know Your Customer (KYC) processes.

Reacting to the regulation news, Erald Ghoos, OKX Europe CEO added,

“With this license, we are set to deliver institutional-grade services, partner with tier 1 financial institutions, and offer regulated investment solutions that enhance market access and empower investors across the continent.”

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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