According to Bloomberg analysts, the U.S. Securities and Exchange Commission (SEC) is likely to approve several cryptocurrency ETFs,
including spot crypto ETFs for XRP, Solana (SOL), and Dogecoin (DOGE).
Analysts James Seyfarth and Eric Balchonas said most of the applications have a 90 percent or higher chance of approval.
Bloomberg Intelligence’s James Seyfarth said the SEC’s discussions with applicants are a positive sign, showing that the regulatory body is now in a more cooperative position.
The development comes as the SEC issued a wave of 19b-4 approvals and S-1 amendments, indicating that the regulator is expanding its partnership with ETF issuers.
Spot crypto ETF applications for various crypto assets such as Litecoin, Solana, XRP, Dogecoin, and Cardano now have a 90% or higher chance of approval.
However, the SUI ETF, filed by Canary, is an exception and is given only a 60% chance of approval as its future contractual and regulatory issues are not yet fully clear.
Polymarket bettors are also optimistic about the approval of the XRP and SOL ETFs, with the XRP ETF given a 98% chance of approval and the SOL ETF given a 91% chance of approval.
The Dogecoin ETF is also expected to have a 71% chance.
All these developments are welcome for the cryptocurrency market and indicate that US regulators are ready to expand the approval of financial products for cryptocurrencies, which will make crypto investments more accessible and legally protected.
This is news, this is analysis,
This is not financial advice from the author of the post, if you want to invest in the crypto market, do your research first, then buy.
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