Disappointment in ETFs: XRP ETF Approval Chances Trail Behind Other Leading Altcoins

XRP ETF Approval Chances: Bloomberg Analysts Rank XRP ETF as Least Likely Among Top Altcoins

Bloomberg’s senior ETF analyst, Eric Balchunas, and his colleagues have calculated the likelihood that several cryptocurrency ETFs would be approved. There is currently a 65% chance that an XRP ETF will be approved this year. When compared to some of the leading altcoins that currently have spot ETF proposals in the United States, these odds are the lowest. The cryptocurrency associated with Ripple is currently not considered a commodity by the SEC, which significantly reduces its chances.

Litecoin Leads ETF Race With 90% Approval Odds Amid Regulatory Clarity

In contrast, the approval rate of a spot Solana ETF is 70%. SOL might be more likely to be approved even though it isn’t categorized as a commodity. Although the SEC previously classified Grayscale’s Solana ETF proposal as unregistered securities in its lawsuits against Coinbase and Binance, the SEC has already acknowledged the proposal. Notably, compared to XRP and SOL, Dogecoin (DOGE) has a higher chance of having its own spot ETF approved in the US this year.

Proposals for Litecoin ETFs have the best chance of being approved—90%—because the token is free of regulatory issues. The SEC probably considers LTC to be a commodity, according to Bloomberg. Analysts feel that LTC has the simplest route to regulatory certification among altcoins, as S-1 and 19b-4 paperwork have already been submitted.

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