Altcoin ETF Summer: Solana and Litecoin Top ETF Approval List, XRP Holds Strong at 85%

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The ETF analysts at Bloomberg are out with their latest forecast for which class of Crypto spot ETF will get the nod, and it appears that Litecoin, Solana, and Baskets/Index funds are in the lead. According to James Seyffart, these three classes currently have a 90% likelihood of receiving FDA approval in 2025, according to their updated prediction.

The applications for these ETFs have already been submitted by big companies involving Grayscale, Bitwise, Hashdex, Franklin, and VanEck. These filings recently became officially recognized by the SEC and final decision dates are now set between mid-2025 and end of 2025.

However, XRP isn’t too far behind, with analysts giving it an 85% chance of approval in 2025. Dogecoin follows with an 80% probability, while other assets such as Cardano, Polkadot, HBAR, and Avalanche are estimated to have a 75% chance of getting the green light.

Newer assets like Sui are rated a 60% chance and that Tron’s ETF filing is unlikely to be looked at until 2026. Bloomberg’s analysts calculated the odds by analyzing the past acknowledgment of applications by the SEC, the actual deadlines the firm has to make a final decision and on the odds of those cryptos being considered commodities, which could facilitate the approving process. 

Is Solana Leading the Race?

The U.S.SEC could green-light ETFs following broad crypto indexes already next month. And among the individual cryptocurrencies, Solana seems to be setting the pace. Analysts say Solana could be the next big asset to have a spot ETF, trailing Bitcoin and Ethereum.

The update arrives as seven issuers have already submitted applications for spot Solana ETFs. Regulators could also step in early on Solana and staking-based ETF filings, the report adds. This has been spurred on in part by Rex-Osprey’s recent pivot to create workarounds to the legal restrictions, through which the issuer has launched staking products for Solana and Ethereum.

“Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way,” Eric Balchunas wrote.