Hold Tight! Crypto ETF Approvals Are On The Horizon, But SEC's Got Us Playing The Waiting Game

Bloomberg's Bold Predictions: 75% to 90% Chance Of Approval, But When?

Listen up, crypto fans! Bloomberg's top analysts are throwing out some serious numbers, predicting a whopping 75% to 90% chance that those crucial exchange-traded fund applications will get the green light. But hold your horses—those pesky SEC delays are pushing the final verdict into 2025. Can you believe it?

Who's Got The Best Shot?

Bloomberg's dynamic duo, Eric Balchunas and James Seyffart, just dropped their latest hot takes on which ETFs might make the cut. Let's dive in!

Get ready for this: Spot ETFs for Litecoin (LTC), Solana (SOL), and those crypto Baskets/Indexes (think Grayscale’s GBTC conversions) are leading the pack with a stellar 90% chance of approval in 2025. Why? Because the SEC is all about those commodities vibes and their cozy connections to regulated futures markets. Plus, these bad boys already got their 19b-4 forms nodded at, with final SEC deadlines set for July to October this year. It's happening, people!

Now, Ripple (XRP) isn't far behind, boasting an 85% shot at approval. But here's the catch: it all hinges on how the big shots categorize it, especially after that CFTC bombshell on April 21 calling XRP a regulated asset for futures markets. Keep your eyes peeled!

Dogecoin (DOGE) and Hedera (HBAR) are each rocking an 80% chance, while Avalanche (AVAX), Cardano (ADA), and Polkadot (DOT) are trailing slightly with a 75% chance. It's anyone's game!

Eric Balchunas took to X, saying, “Would love to hear directly from Atkins, but all have a good chance of happening.” You heard it here first, folks!

SEC's Delaying Tactics: The Latest Moves

Yeah, the approval odds are sky-high, but the SEC just loves to keep us on our toes with those delays. On April 29, they hit the brakes on several applications, including Franklin Templeton’s spot Solana ETF, now facing a final deadline of Oct. 7, and their spot XRP ETF, set for Nov 5. Grayscale’s spot Hedera ETF and Bitwise’s Dogecoin ETF got pushed back too, both eyeing final rulings by Oct. 8. And don't forget, the SEC also deferred a call on the staking provisions linked to Fidelity’s spot Ethereum ETF, but we're still waiting on a final deadline for that one.

Oh, and on April 24, the SEC didn't stop there—they delayed decisions on Bitwise’s spot Bitcoin (BTC) and Ethereum (ETH) ETFs, and Canary Capital’s Hedera ETF. New deadlines? June 10 and June 11. The suspense is killing us!