- Bloomberg analysts looked at ETFs focused on Litecoin, Solana, XRP, and Dogecoin
- They believe a Dogecoin ETF has a 75% chance of being approved in 2025 followed by Solana at 70%, and XRP with 65%
- Nasdaq filed two ETF 19b-4 forms for CoinShares with the SEC, seeking the approval of a Litecoin and XRP ETF
Bloomberg ETF analysts James Seyffart and Eric Balchunas believe that a Litecoin ETF has a 90% chance of being approved in 2025.
Taking to X, Seyffart said: “@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.”
In a table, Seyffart notes that a Dogecoin ETF has a 75% chance of approval, a Solana ETF has a 70% chance, and an XRP ETF has a 65% approval rating.
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
Seyffart added that it’s unlikely the market will see an XRP ETF until the whole Ripple/XRP/SEC case is settled, finished, or has some sort of outcome.
“The SEC needs to untangle that mess,” he said.
Nasdaq files ETF forms
The news comes as Nasdaq filed two 19b-4 forms with the US Securities and Exchange Commission (SEC) on behalf of CoinShares for Litecoin and XRP exchange-traded funds (ETFs).
Nasdaq is seeking approval to list and trade a CoinShares Litecoin ETF and XRP ETF following CoinShares S-1 filings submission in January. Crypto ETFs have gained in popularity since the US spot Bitcoin ETFs launched last January.
CoinShares is hoping to take advantage of this by expanding its presence into the US market.
The news follows that of the Chicago Board Options Exchange (Cboe), which submitted four 19b-4 forms to the SEC last week. On behalf of 21Shares, Bitwise, Canary Capital, and WisdomTree, Cboe filed the forms for XRP ETFs.
In October, Bitwise filed an S-1 form for an XRP ETF with the SEC. Similarly, Canary Capital filed for an XRP ETF last year, reflecting its broader strategy to bring multiple crypto ETFs to the market.
A push for more crypto ETFs
With the launch of US spot Bitcoin and Ethereum ETFs, more are looking to capitalize on the introduction of other crypto ETFs into the market.
Back in October, Brad Garlinghouse, Ripple’s CEO, indicated that an XRP ETF was “inevitable.” At the time, he highlighted there was increased demand from both institutional and retail investors to gain exposure to digital assets.
To date, the total net inflow of Bitcoin ETFs is more than $40 billion since their approval, according to SoSoValue data.
Last July, Cboe filed two Solana ETFs with the SEC. The deadline for the SEC to provide a decision is expected next month.
Nasdaq also filed a 19b-4 form for a Litecoin ETF for Canary Capital in January. All of this is a broader push from several organizations keen to see different crypto ETFs in light of a favorable SEC following President Donald Trump’s inauguration last month.
