LTC and SOL ETFs Face High Approval Odds Despite SEC Delays
Bloomberg analysts Eric Balchunas and James Seyffart have raised their approval probability estimates for several cryptocurrency ETFs currently under SEC review, with Litecoin (LTC) and Solana (SOL) spot ETFs leading the pack at 90% approval odds. However, regulatory delays are expected to push final decisions into 2025. The SEC’s classification of LTC and SOL as commodities appears to be a key factor in the high approval likelihood. This development comes as the crypto market eagerly awaits broader institutional access through regulated ETF products.
Analysts Project High Approval Odds for Pending Crypto ETFs Amid SEC Delays
Bloomberg analysts Eric Balchunas and James Seyffart now estimate a 75% to 90% likelihood of approval for several cryptocurrency ETFs under SEC review. Spot ETFs for Litecoin (LTC) and Solana (SOL), along with crypto basket/index products, lead the pack with 90% approval odds. Regulatory delays, however, are pushing final decisions into 2025.
The SEC’s classification of LTC and SOL as commodities—coupled with their established futures markets—appears to be a key factor in these optimistic projections. Grayscale’s GBTC conversion proposal falls into the same high-probability category, with all three applications having cleared the 19b-4 form acknowledgment stage.
Analysts Predict 75-90% Approval Odds for Spot Crypto ETFs in 2025
Market analysts are increasingly optimistic about the approval of spot cryptocurrency ETFs, with projections ranging between 75% and 90% for 2025. The focus centers on index funds, Litecoin (LTC), and Solana (SOL), with Grayscale, Bitwise, Hashdex, and Franklin Templeton leading the charge.
Regulatory clarity appears to be a key driver, as the SEC’s acknowledgment of 19b-4 filings suggests these assets may be classified as commodities. The existence of CFTC-regulated futures further bolsters approval prospects. Major filings began in October 2024, with a final SEC deadline set for July 2025.
Crypto Market Shows Resilience Amid Broad Declines
The cryptocurrency market displayed muted activity, with most major digital assets trading in negative territory. Despite the downward pressure, the total market capitalization eked out a 0.32% gain, suggesting underlying resilience.
Bitcoin (BTC) managed a marginal increase but remained constrained below the $95,000 level, hovering around $94,880. Ethereum (ETH) faced stronger headwinds, slipping nearly 1% as it struggled to maintain its position above $1,800.
Altcoins bore the brunt of the sell-off. Ripple (XRP) tumbled almost 2% to $2.24, while Solana (SOL) continued to trade below the $150 threshold. Dogecoin (DOGE) and Cardano (ADA) joined the retreat, shedding over 2% and 1.58% respectively.
The weakness extended across mid-cap tokens, with Chainlink (LINK), Stellar (XLM), Toncoin (TON), Hedera (HBAR), Polkadot (DOT), and Litecoin (LTC) all posting notable declines. Market participants appeared to be taking profits after recent gains, creating selective buying opportunities for long-term investors.
