Trump’s Crypto Bullishness Drives $90 Billion Race For XRP Solana ETF Approval

Summary

• High ETF Approval Odds: A Bloomberg analyst assigns high probabilities for spot ETF approvals for specific altcoins: Solana (SOL) and Litecoin (LTC) at 90%, and XRP at 85%, reflecting growing optimism.

• Institutional Demand and SEC Timelines: Increased institutional appetite, fueled by the success of Bitcoin ETFs, coincides with upcoming SEC deadlines (Oct 2nd for LTC, Oct 20th for SOL, delays expected for others) driving market speculation.

• Political Influence Cited: The perceived shift towards a more crypto-friendly regulatory stance under the Trump administration, contrasting with the previous SEC leadership, is cited as a significant factor contributing to the high approval odds.

Growing speculation surrounds the potential approval of spot exchange-traded funds (ETFs) for various altcoins in the United States, with a Bloomberg analyst providing updated likelihood assessments.

Attention is focused on the Securities and Exchange Commission (SEC) as deadlines approach for decisions on these investment products.

Institutional investors are particularly interested in gaining exposure to assets like Solana (SOL), Litecoin (LTC), and XRP through regulated ETF structures.

Solana and Litecoin Lead Approval Probabilities

According to Bloomberg analyst Eric Balchunas, the chances for spot Solana ETF approval currently stand at 90%.

This high probability follows filings from numerous asset managers, including Grayscale, VanEck, 21Shares, Bitwise, and Canary.

Similarly, prospects for a Litecoin ETF are viewed with strong optimism, also assigned a 90% likelihood of approval by the analyst.

Market participants are adjusting their positions based on these anticipated outcomes and upcoming SEC decision dates.

The final deadline for the SEC to rule on Solana ETFs is October 20th, while a decision regarding Litecoin products is expected before October 2nd.

XRP, often favored by institutions, follows closely with an 85% approval probability, according to Balchunas.

These figures align with similar speculative odds seen on prediction markets like Polymarket earlier this year.

Recent regulatory actions include the SEC delaying its decision on Franklin Templeton’s spot XRP ETF application until June 17th, prompting discussions about the overall approval timeline.

Balchunas has also suggested that the potential confirmation of Paul Atkins as SEC Chair could be a significant factor influencing approvals.

Echoing the sentiment of potential delays for some products, Bloomberg’s James Seyffart noted, “We also had the SEC delay decisions on Ethereum staking and Dogecoin ETFs today.

I am expecting more delays today, or at least this week, on some Solana and Hedera/HBAR ETF filings.

This is expected, IMO. Final deadlines for most of this stuff are in October 2025 or later.”

Institutional demand for altcoin investment vehicles has risen considerably, spurred by the significant success of spot Bitcoin ETFs launched last year.

Those products attracted nearly $40 billion in assets, contributing to Bitcoin reaching new all-time price highs.

Political Climate Seen as Boosting Factor

Analysts suggest the notably high approval odds (up to 90%) are partly influenced by a perceived shift towards a more crypto-friendly regulatory environment under the current White House administration led by Donald Trump.

While spot Bitcoin and Ethereum ETFs were approved before Trump’s second term began, their path involved considerable regulatory friction and legal challenges under the previous SEC leadership of Gary Gensler, whose approach was often viewed as restrictive by the industry.

The current administration’s stance, characterized by pro-crypto appointments and policy directions, is considered more conducive to approvals.

Initiatives such as the creation of a dedicated crypto task force and a Strategic Bitcoin Reserve have further bolstered market optimism regarding regulatory clarity and acceptance.

Also Read: Trump’s 2025 Tax Plan Could Rally XRP 1000% Analyst Says

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