Bloomberg Analysts Boost Ripple’s XRP, Solana, Cardano, DOGE ETF Approval Odds to 90%

This week, altcoin ETFs have been a major topic of conversation among notable cryptocurrency figures—from traders to analysts and investors alike. With Bitcoin ETFs recording massive inflows, market participants anticipate approving altcoin-based ETFs in the near term. 

The arrival of altcoin-based ETFs could supercharge the altcoin and larger cryptocurrency markets by launching the highly anticipated altcoin rally this year.

As such, market experts are noting their bullish observations ahead of time. Most recently, two market experts revisited their predictions for the approval of some altcoin-based ETFs. Both analysts strongly believe that many recently filed altcoin ETFs could gain approval.

James Seyffart, a research analyst at Bloomberg Intelligence, took to X to share the following;

“EricBalchunas & I are raising our odds for the vast majority of the spot crypto ETF filings to 90% or higher. 

Engagement from the SEC is a very positive sign in our opinion.”

Approval could be recorded in a few months or extended to October, analysts assert

Many regard the SEC’s engagement with recent filings this week as a positive signal and, by extension, the start of the approval process.

XRP, SOL, DOGE, ADA, LTC, and DOT are a few of the many altcoins with ETF filings from multiple asset management firms.

Meanwhile, it is worth noting that the regulator has not announced approval dates, although proposal changes have been recorded recently. 

Although the analysts expressed uncertainty over a possible approval date, they remain optimistic that approval is imminent.

“The timing of these approvals/launches is more uncertain. Could be something we’re talking about in the next month or two. Or it could be something that waits until October or later. Matter of when not if.” Seyffart wrote.