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 These filings mark a major milestone for the cryptocurrency, as the application was previously rejected or withdrawn.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 the chairman of the U.S. Securities and Exchange Commission (SEC). His studies in finance and blockchain at MIT have helped him develop U.S. cryptocurrency regulations and policies. Quick Facts Full name Gary Scott Gensler Birth 18-10-1957, Baltimore, Maryland, United States Nationality American Education MBA from the University of Pennsylvania Marital status Married to Francesca Danieli (1986-2006) Net worth Estimated $100 million   Gensler has advocated for enhanced supervision of digital assets, seeking to regulate cryptocurrencies similar to securities. His work at the SEC has focused on safeguarding investors, regulating crypto exchanges, and establishing stablecoin policies.   Gary Gensler - Career Highlights 1997 – Became Assistant Secretary of the Treasury. 2009 – Led CFTC, regulating financial derivatives post-2008 crisis. 2018 – Taught blockchain and crypto at MIT. 2021 – Appointed SEC Chairman, focusing on crypto regulations. 2022 – Proposed stricter rules for crypto exchanges. 2023 – Took legal action against major crypto firms. 2024 – Advocated for stronger stablecoin and DeFi regulations.   Gary has collaborated with multiple lawmakers in formulating crypto policies. Even with disagreements with crypto investors regarding crypto policies, he continues to be a key player in the changing dynamic between regulatory frameworks and blockchain advancement.   Awards & Recognitions of Gary Gensler Year Institution  Description 2009 U.S. Treasury Financial Regulation Leader 2018 MIT Blockchain & Crypto Educator 2021 SEC SEC Chairman Overseeing Crypto Policies 2023 Bloomberg Most Influential Regulator in Crypto 2024 Forbes Top Policy Maker in Digital Assets   Useful Links to Connect With Gary Gensler Platform Link X (formerly Twitter) twitter.com/GaryGensler CFTC website Chairman Gary Gensler   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.