Bloomberg has raised the likelihood of the U.S. Securities and Exchange Commission (SEC) approving cryptocurrency ETFs to 90% or higher, after the SEC requested relevant issuers to submit revised applications. The SEC is believed to be viewing Solana, XRP, Litecoin, Dogecoin, and Cardano as commodities, paving the way for ETFs beyond Bitcoin. The SEC has requested clarity on redemption mechanisms and staking arrangements, indicating that it is actively reviewing product structures. Despite the optimistic outlook, analysts still warn that a formal listing may take months.

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