Altcoin ETFs on Fire: Analysts Predict a Surge in Approvals

Bloomberg's Big Reveal: Approval Odds Soar for Solana, Litecoin, XRP, and Dogecoin

Holy moly, the crypto world is buzzing! Analysts are going all in on altcoin ETFs, and they're shouting from the rooftops that a tidal wave of approvals is just around the bend.

On June 30, Bloomberg's ETF gurus, James Seyffart and Eric Balchunas, dropped a bombshell on X, spilling the beans on their latest approval forecasts for a bunch of altcoin ETF proposals currently under the SEC's microscope. These new numbers are sizzling hot, as the filings are picking up steam and issuers are getting cozy with the regulatory watchdog, giving a major boost to the chances of approvals later this year.

Leading the charge are Solana (SOL), Litecoin (LTC), and XRP (XRP), each now sporting a jaw-dropping 95% chance of approval. That's a huge jump from the previous 90% for SOL and LTC, and 85% for XRP. And don't sleep on Dogecoin (DOGE) – its odds just skyrocketed from 80% to 95%, as the vibes between issuers like Bitwise and the SEC keep getting more positive.

Cardano, Polkadot, Avalanche, and Hedera Join the Party with 90% Odds

But wait, there's more! Cardano (ADA), Polkadot (DOT), Avalanche (AVAX), and Hedera (HBAR) are now all rocking 90% approval chances, up from their earlier estimates of 75% to 80%. This boost is like rocket fuel for these tokens, even as recent delays from the regulatory commission throw a bit of shade on the approval timeline.

SUI's (SUI) odds are holding steady at 60%, thanks to the uncertainty around its regulatory status and the lack of CFTC-regulated futures. But hold onto your hats – Tron (TRX) just blasted off from "not applicable" to a solid 50%, although its review isn't slated until 2026.

PENGU Makes a Splash: New Entrant with 50% Approval Odds

And in a twist no one saw coming, a new player has entered the game. PENGU (PENGU) just made its grand entrance with a 50% approval estimate, fresh off a June 26 filing by the CBOE to list and trade a fund tied to the token.

This proposal is asking the SEC to greenlight a Canary PENGU ETF, which would hold both the PENGU token and Pudgy Penguins NFTs. If it gets the nod, it could be the first ETF to mash up a memecoin and an NFT collection. PENGU's listing is right in line with analyst predictions that a memecoin-focused ETF era could kick off in 2026.

SEC Acknowledges Filings, Final Decisions Looming

The SEC has given a nod to most of these altcoin-based ETF filings, with the final showdown expected to play out through late 2025. The top dogs in the race are seen as commodities, with CFTC-regulated futures and big-time support from major issuers – all the ingredients that have historically cranked up the approval odds.