XRP, ADA, SOL and DOGE ETF Approvals: Bloomberg Analyst Weighs In, LTC ETF Approval by October?

The U.S. Securities and Exchange Commission’s (SEC) recent acknowledgment of XRP ETF filings has created a stir in the crypto community. These filings mark a major milestone for the cryptocurrency, as the application was previously rejected or withdrawn. In the past, attempts to file for an ETF were met with resistance, especially during the era under SEC Chair gary gensler gary gensler Gary Gensler is a pioneer and the current chair of the U.S. Securities and Exchange Commission. He has extensive experience that spans Wall Street, government regulation, and an angel teaching about cryptocurrencies and blockchain at MIT. Gary S. Gensler was on born October 18, 1957, in Baltimore, Maryland.He graduated from Pikesville High School in 1975, where he was later given a Distinguished Alumnus award. He also earned a degree in economics.Gensler served in the United States Department of the Treasury as Assistant Secretary for Financial Markets from 1997 to 1999, then as Undersecretary for Domestic Finance from 1999 to 2001He has expressed his desire to present crypto-related approach changes later on that include token commitments, decentralized finance, stablecoins, guardianship, exchange-traded resources, and advancing stages. Chairman However, the acknowledgment of these filings is seen as a positive sign, showing that the SEC is open to considering altcoins like XRP and Solana in a way they haven’t before.

In a recent podcast, Bloomberg’s senior ETF analyst, Eric Balchunas said that this development is very important because it suggests that these cryptocurrencies may no longer be classified as securities by the SEC, which would be a game-changer. He quoted someone who speculated that this could eventually lead to the reconsideration of related lawsuits, signaling a shift in how these cryptocurrencies are treated under U.S. law.

Litecoin ETF Approval By October 2025?

Balchunas also discussed the potential for other altcoins like Dogecoin and Cardano to follow suit, with some filings already underway. While the SEC’s acknowledgment is an encouraging sign, there is still uncertainty about when a final decision will be made. The probability of approval for these ETFs stands at about 70% for XRP.

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However, he touted Litecoin as one of the most important filings, as it is similar to Bitcoin and viewed as a commodity. Litecoin was filed during the SEC’s previous leadership under Gary Gensler, and unlike other applications, it didn’t receive a call to withdraw, giving it an advantage. With the current, more flexible SEC, Eric believes Litecoin has a 90% chance of approval, with a decision expected by October.

While the future of XRP and Solana ETFs is still up in the air, the recent movements indicate that the landscape for cryptocurrency-related financial products is changing, with more filings and decisions expected in the coming months.

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