Odds High For Solana (SOL), Litecoin (LTC) ETF

Bloomberg analyst James Seyffart has increased the likelihood that altcoin exchange-traded funds (ETFs) will be approved

The cryptocurrency market is buzzing with anticipation as Bloomberg analyst James Seyffart has raised the possibility of the US Securities and Exchange Commission (SEC) approving altcoin exchange-traded funds (ETFs).

According to Seyffart's latest predictions, there is a 90 percent chance that Solana (SOL) and Litecoin (LTC) spot ETFs will be approved by the SEC. The SEC is currently reviewing proposals for spot Solana ETFs. XRP comes in second with an 85 percent chance.

The SEC recognized Grayscale's proposal for a Solana ETF back in February, but later postponed its decision until May due to "unresolved issues." The financial watchdog also decided to defer making decisions regarding Bitwise and 21Shares' proposals.

This postponement was due to the SEC needing more time to examine the legal, technical, and investor protection aspects of the proposals.

Dogecoin (DOGE) follows closely with an 80 percent chance of approval. Other digital assets with a 75 percent chance of seeing their ETFs approved include Cardano (ADA), Polkadot (DOT), Hedera (HBAR), and Avalanche (AVAX).

The SEC has requested that issuers submit revised S1 registration forms by next week, promising to review and comment on the submissions within 30 days.

The SEC also requested further clarification regarding the approaches to sort staking and in-kind redemptions.

These updates suggest that the U.S. SEC may now be open to permitting staking as a component of a Solana ETF structure. According to one source, these changes could speed up the process and move the investment vehicles closer to approval in three to five weeks.