Bloomberg Analysts Bump Crypto ETF Approval Odds To 90%

Analysts at Bloomberg have recently released new updates that suggest that the U.S. Securities and Exchange Commission (SEC) is getting closer to approving more spot crypto exchange-traded funds (ETFs). 

These ETFs allow people to invest in cryptocurrencies like XRP, Dogecoin (DOGE), and Cardano through regular stock markets. With these crypto funds, investors will not need to buy the tokens. Analysts now believe that these ETFs will be approved by the end of 2025.

Bloomberg Analysts Raise Crypto ETFs Approval Odds to 90%

In a recent X post, Bloomberg ETF analyst James Seyffart said he and his colleague Eric Balchunas now expect most spot crypto ETF applications to be approved. They believe the chances are 90% or higher.

According to Seyffart, the recent engagement between the SEC and ETF applicants is a strong and positive signal. Just two weeks ago, the analysts had given lower chances for approval. Back then, they believed spot ETFs for XRP, Dogecoin, and Cardano had less than a 90% chance of being approved. 

Now, those coins are grouped with other popular cryptocurrencies like Solana, Litecoin, Polkadot, and Avalanche. They are all seen as having a 90% or higher chance of SEC approval.

SEC Signals New Attitude Under New Chairman

This growing confidence comes after a leadership change at the SEC. In April, Paul Atkins became the new chairman of the regulatory agency. Since then, he has shared plans for a more open and supportive approach to digital assets.

Earlier this month, the SEC asked companies applying for spot Solana ETFs to update their S-1 forms. This request indicates that the SEC is preparing to move forward with approvals. Analysts and industry experts see this as a clear shift in how the agency deals with crypto products.

Only Bitcoin and Ethereum ETFs are Approved In the U.S. 

Until now, the U.S. SEC has only approved spot crypto ETFs for Bitcoin (BTC) and Ethereum (ETH). 

These ETFs have become very popular and have brought in tens of billions of dollars from investors. They let people invest in crypto prices through traditional financial platforms without needing to hold the digital coins themselves.

If the SEC approves more altcoin ETFs, it could make it easier and safer for more people to invest in crypto. Meanwhile, countries like Brazil and Canada have already approved an XRP ETF, while the U.S. is still hesitant to decide.