Altcoin Spot ETF Filings Await SEC Action, Market Predictions Point to a "Summer of Crypto ETFs"

Analysts see a rise in altcoin spot ETF filings awaiting SEC action. Over 70 crypto ETF applications—covering assets from Ripple’s XRP to Solana and Dogecoin—are currently pending with U.S. regulators.

Analysts at Bloomberg are keeping an eye on a growing number of altcoin spot ETF applications in the U.S., with over 70 such filings now pending with the Securities and Exchange Commission (SEC).

According to a recent analysis by Bloomberg ETF analysts Eric Balchunas and James Seyffart, these applications could lead to a “summer of crypto ETFs.”

Their analysis indicates a high chance of approval for funds tracking Litecoin, XRP, Solana, and Dogecoin under the current SEC administration, a stark contrast to the previous administration's complete rejection of such applications.

The SEC is currently reviewing dozens of new ETF proposals, a task that could determine the fate of institutional investing in crypto markets for years to come.

As of Thursday, Balchunas noted on X (formerly Twitter) that “72 crypto-related ETFs are now awaiting approval.”

These filings cover a wide range of major altcoins, including XRP, SOL, LTC, ADA, and even more exotic tokens like COTI and REQ.

The pending applications follow last year's massive expansion of institutional access to Bitcoin and Ethereum with the approval of eleven spot Bitcoin ETFs in January and nine spot Ether ETFs by May.

With the SEC facing final deadlines on batches of proposals through late 2025, the agency must issue approvals or rejections in the coming months.

According to predictions by Polymarket, a cryptocurrency prediction platform, there’s a 78–79% probability that an XRP spot ETF will be approved by December 2025.

Similarly, Solana and Litecoin have year-end approval probabilities of about 78%, while Dogecoin’s odds are around 68%. These probabilities have remained relatively stable throughout 2025.

However, the probability of very near-term approval is lower; for instance, the odds of XRP ETF approval by July 31, 2025, are around 42%.

For context, the approval probabilities by July 2025 are lower—ranging from 24% to 42%—suggesting that the predictive market anticipates decisions later in the year. It’s worth noting that this type of market has accurately predicted previous crypto regulatory outcomes.

The optimism surrounding altcoin ETF approval stems in part from a March ruling by the SEC dismissing its appeal against a court decision on Ripple.

This move, which Balchunas described as a “resounding victory” for Ripple, occurred as the SEC completed a task force on digital assets and President Trump expressed support for a U.S. Bitcoin ETF during a rally in December 2024.

Furthermore, since January, the SEC has been de-emphasizing enforcement activity. This shift in priorities led to the administration dropping civil cases against crypto exchange Coinbase and another exchange, Kraken, signaling a more open approach to the industry.

According to analysts, the previous SEC administration would have flatly refused most altcoin ETF filings. For instance, in December 2024, the SEC rejected several proposals for spot Solana ETFs.

On the legislative front, the SEC has moved forward with filings that it once stalled. In February, the agency acknowledged proposed 19b‑4 rule changes for Grayscale’s spot XRP and DOGE ETFs.

Acknowledgment is a formal step that invites public comment but does not guarantee approval. As Bloomberg’s James Seyffart pointed out, under the old SEC regime, such filings would likely have been dismissed.

These developments, along with President Trump’s pro-crypto stance and comments from Yellen about sensible regulation, have created a more favorable backdrop for altcoin ETFs, analysts noted.