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

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.

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.

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