💥💥The Probability of ETF Approval for XRP, DOGE, and This Altcoin Has Increased to 90%: Bloomberg Analysts 💥💥

Bloomberg analysts have raised the likelihood of approval for spot ETF applications of popular altcoins such as XRP (XRP), Dogecoin (DOGE), and Cardano (ADA) to 90% by the end of the year. Recent steps taken by the U.S. Securities and Exchange Commission (SEC) have generated excitement in the cryptocurrency market. Bloomberg’s experienced ETF specialists Eric Balchunas and James Seyffart have increased their expectations for the approval of spot crypto ETFs due to the SEC's growing interest in digital assets. According to the analysts, this development is an important sign that the agency has adopted a more positive stance towards cryptocurrencies.

Previously, Balchunas and Seyffart assessed the chances of ETF approval for leading altcoins like XRP, Dogecoin, and Cardano to be below 90%, but in light of recent developments, they have significantly raised this ratio. It was also emphasized that ETF applications for Litecoin (LTC), Solana (SOL), Polkadot (DOT), and Avalanche (AVAX) have a high likelihood of approval.

Change in SEC Leadership Accelerates ETF Approvals

The new SEC Chairman Paul Atkins is seen as a harbinger of a positive period for the crypto market in the U.S. Atkins, who took office in April, promised to adopt a more friendly approach towards digital assets. Following this policy shift, particularly the request for additional documentation for Solana ETF applications is interpreted by analysts as a strong signal that approvals may happen soon.

To date, the SEC has only approved spot ETF applications for Bitcoin and Ethereum. Through these ETFs, investors can benefit from price movements without directly purchasing the asset, bringing billions of dollars into the crypto market. Now, attention is turned to the highly demanded altcoins.