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There’s now a 90% chance that the US Securities and Exchange Commission will approve a Solana ETF in 2025, up from 70% earlier this year, according to Bloomberg Intelligence.
The estimate, shared on April 30 by Bloomberg ETF analysts Eric Balchunas, also raised the approval odds for several other altcoin ETFs, including Dogecoin, XRP, and Cardano.
Six asset managers — including Grayscale, VanEck, and Bitwise — have filed to launch Solana ETFs.
Bloomberg now gives remittance token XRP an 85% chance of approval, while Dogecoin and Cardano stand at 80% and 75%, respectively. Those figures are up from 65%, 75%, and slightly lower estimates earlier this year.
Polkadot, Hedera, and Avalanche are also expected to receive approval, with odds above 70%. Litecoin remains at 90%, unchanged from Bloomberg’s February forecast.
Balchunas believes the SEC may be treating many of these tokens as commodities, increasing their chances of approval.
NEW: @EricBalchunas and I took a look at the filings for spot crypto ETFs. We’re putting out relatively high odds of approval across the board. Mainly focused on Litecoin, Solana, XRP, and Dogecoin for now.
Here’s the table with the odds and some other details: pic.twitter.com/xaXaNXLb0M
— James Seyffart (@JSeyff) February 10, 2025
Multiple Asset Managers Have Filed For LTC, XRP And Solana ETFs
The post by Balchunas shows that six asset managers have filed for Solana ETFs as of April 30. Bidding issuers are Grayscale, VanEck, 21Shares, Canary, Bitwise and Franklin.
Canary, Grayscale and Coinshares have also filed for their own Litecoin ETFs. Meanwhile, 6 firms are bidding for their own XRP ETFs.
Grayscale, Bitwise and 21Shares have also filed for their own DOGE ETFs.
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