Trump’s Crypto Gambit Ignites $90B ETF Frenzy—XRP and Solana in the Crosshairs
Wall Street’s latest gold rush? A high-stakes scramble for crypto ETF approvals, turbocharged by political tailwinds. XRP and Solana emerge as frontrunners—but don’t expect the SEC to roll out the red carpet just yet.
Behind the hype: Trump-era deregulation meets institutional FOMO. TradFi giants are suddenly tripping over themselves to ’democratize’ assets they mocked three years ago. How convenient.
The punchline? A $90 billion showdown where the only guaranteed winners are lawyers and volatility traders. Place your bets—the house always wins.
A Bloomberg analyst has revealed the latest odds for spot altcoins ETF approval in the United States amid growing speculations. All eyes are fixed on the Securities and Exchange Commission (SEC) ahead of expected timelines for a decision concerning these products. At the moment, Solana (SOL), Litecoin (LTC), and XRP remain key for several institutional players seeking exposure to the market.
Solana ETF Odds Top The Chart
Bloomberg analyst Eric Balchunas posted the current odds for possible spot altcoin ETF approvals. In a recent X post, Solana bagged a 90% approval chance after several filings from firms including Grayscale, VanEck, 21Shares, Bitwise, Canary, etc. Similarly, Litecoin holders expressed Optimism as the chances of the asset’s ETF approval are also at 90%.
With upcoming SEC deadlines, traders have repositioned holdings along the prevailing sentiments. Final SEC deadline for Solana is Oct 20, while the Commission will make a decision for Litecoin products before Oct 2. Meanwhile institutional favorite asset XRP trails the top two with odds at 85%. This year, speculations on Polymarket also hit similar figures.
After the SEC delayed Franklin Templeton’s spot XRP ETF till June 17, users sparked a conversation on the approval process. Balchunas also tipped the confirmation of SEC Chair Paul Atkins as a major determinant for approval.
“We also had the SEC delay decisions on Ethereum Staking and Dogecoin ETFs today. I am expecting more delays today, or at least this week, on some Solana and Hedera/HBAR ETF filings. This is expected IMO. Final deadlines for most of this stuff are in October 2025 or later,” Bloomberg’s James Seyffart added.
In recent months, institutional appetite for altcoin products has soared after the massive success of Bitcoin products. Last year, spot Bitcoin ETFs recorded nearly $40 billion, pushing the asset to new all-time highs.
The Trump Effect Boosts Odds
Approval odds are soaring as high as 90% as the White House takes a friendly approach to crypto regulation. Spot Bitcoin and Ethereum products got approved before Trump’s second term, but came with a major hassle, including lawsuits before the approval.
Former SEC Chair Gary Gensler imposed stricter restrictions, which many considered roadblocks to innovation. However, Trump’s second term has turned the tide in the industry’s favor with pro-crypto appointments and policies. The formation of a crypto task force alongside a Strategic Bitcoin Reserve fueled market optimism.
