- Bloomberg analyst James Seyffart raised the odds of approval on several altcoin ETF filings to 95%.
- The US SEC is expected to rule this week on Grayscale’s proposal to convert its GDLC fund into a spot ETF.
- XRP, SOL, and LTC have odds of ETF approval reaching 95% while placing a 90% bar for several others.
The odds of spot crypto exchange-traded funds (ETFs) approvals reach 95%, with Ripple (XRP), Solana (SOL), and Litecoin (LTC) taking the lead. This bullish narrative emerges as the US Securities and Exchange Commission (SEC) prepares to rule on Grayscale’s proposal to convert its Digital Large Cap Fund (GDLC) into a spot ETF later this week.
XRP, SOL and LTC approval odds jump 95%, says Bloomberg analyst
Bloomberg analyst James Seyffart posted on his X account on Tuesday that the odds of spot crypto ETF approvals by the end of 2025 have surged. XRP, SOL and LTC take the lead by 95%, while Dogecoin (DOGE), Cardano (ADA), Polkadot (DOT), Hedera (HBAR) and Avalanche (AVAX) chances stand at 90%.
This bullish narrative comes ahead of the US SEC, which is preparing to rule on Grayscale’s proposal to convert its Digital Large Cap Fund (GDLC) into a spot ETF later this week.
On Monday, Grayscale’s revised S-3 filing to convert GDLC into a spot ETF was acknowledged by the US SEC, and the clear ruling would come later this week.
The Grayscale’s GDLC fund, as shown in the chart below, holds a mix of five major cryptocurrencies, including Bitcoin (79.90%), Ethereum (11.32%), Ripple (4.99%), Solana (3.01%), and Cardano (0.78%). Moreover, on Monday, the fund had nearly $774 million in assets under management.
Nate Geraci, ETF Store President, says there is a “high likelihood” of the GDLC fund being approved this week.
Geraci continued that “would then be followed later by approval for individual spot ETFs on XRP, SOL, ADA, etc.”
