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Bloomberg ETF analysts Eric Balchunas and James Seyffart call the coming months a potential “summer of crypto ETFs,” noting that Bitcoin’s January 2024 ETF approvals and Ethereum’s mid-2024 clearances have paved the way.
According to their analysis, funds tracking Litecoin, XRP, Solana, and Dogecoin have high approval chances under the current SEC, a shift from prior policy.
Over 70 Crypto ETF Applications Await SEC Review
The SEC is now reviewing dozens of new ETF proposals. Balchunas noted on X (Twitter) that “72 crypto-related ETFs are now … awaiting approval”.
The filings span major altcoins (XRP, SOL, LTC, ADA, etc.) and even exotic tokens. These pending applications come on the heels of last year’s wave of approvals – eleven spot Bitcoin ETFs in January 2024 and nine spot Ether ETFs by May 2024 – that massively expanded institutional access.
 
With the SEC facing final deadlines on groups of proposals through late 2025, the agency must issue approvals or rejections in the coming months.
Market-based predictions show strong confidence in altcoin ETFs clearing regulators by year-end. Polymarket, a crypto prediction platform, currently implies roughly a 78–79% chance that an XRP spot ETF will be approved by December 2025.
Solana and Litecoin show similar ~78% year-end probabilities, while Dogecoin is around 68%. These odds have held steady in 2025, suggesting traders see approval as more likely than not.
By contrast, the probability of very near-term approval is lower: for example, XRP’s odds fall to ~42% for an approval by July 31, 2025.
These probabilities contrast with approval odds by July 2025 (all roughly 24–42%), indicating markets expect decisions later in the year. Predictive markets have accurately forecast past crypto regulatory outcomes.
Regulatory Developments and Context
Regulatory shifts are fueling optimism. In March 2025, the SEC dropped its appeal of a court ruling on XRP – a move described as a “resounding victory” for Ripple.
Since January 2025, the SEC has broadly de-emphasized enforcement, ending civil cases against crypto exchanges Coinbase and Kraken and signaling a more open approach.
Analysts note that the SEC would have flatly refused most altcoin ETF filings under prior leadership. Indeed, as recently as December 2024, the SEC rejected several spot Solana ETF proposals.
On the legislative front, the SEC has moved forward with filings that it once stalled. In February 2025, the agency acknowledged proposed 19b‑4 rule changes for Grayscale’s spot XRP and DOGE ETFs.
Acknowledgment is a formal step that invites public comment but does not guarantee approval. Bloomberg’s James Seyffart noted that under the old SEC regime, such filings would likely have been dismissed outright.
These developments – along with President Trump’s pro-crypto stance and comments from Yellen about sensible regulation – have been cited by analysts as creating a more favorable backdrop for altcoin ETFs.