Cryptocurrency exchange-traded funds are nearing approval with the U.S. Securities and Exchange Commission (SEC) signaling a positive shift towards cryptocurrencies

According to Cointelegraph, the likelihood of U.S. regulators approving a wave of cryptocurrency exchange-traded funds is nearly certain, indicating a continued positive shift at the SEC. Bloomberg analysts Eric Balchunas and James Seyffart have raised the odds of the vast majority of cryptocurrency exchange-traded funds being approved to "90% or higher," pointing to a "very positive" engagement from the SEC. The analysts also noted that the SEC is "likely" viewing cryptocurrencies like Litecoin (LTC), Solana (SOL), Ripple (XRP), and Dogecoin (DOGE) as commodities, a classification that would place them outside of its direct jurisdiction. The timing of approvals and the launch of spot products remains unclear, with speculation that the process could take several months and may extend beyond October. Asset managers are looking to replicate the success of spot Bitcoin (BTC) ETFs, which saw demand far exceed expectations in their first year.