Solana (SOL), Litecoin (LTC), and XRP Remain Key for Several Institutional Players Seeking Exposure to the Market

A Bloomberg analyst has revealed the latest odds for spot altcoins ETF approval in the United States amid growing speculations.

Amidst a sea of speculation, a Bloomberg analyst has unveiled the latest odds for possible spot altcoin ETF approval in the United States. All eyes are fixed on the Securities and Exchange Commission (SEC) ahead of expected timelines for a decision concerning these products. At the moment, Solana (SOL), Litecoin (LTC), and XRP remain key for several institutional players seeking exposure to the market.

Solana ETF Odds Top The Chart

Highlighting the current odds for possible spot altcoin ETF approvals, the analyst, Eric Balchunas, stated that Solana is bagging a 90% approval chance. Several firms have filed for the asset, including Grayscale, VanEck, 21Shares, Bitwise, and Canary. Similarly, Litecoin chances are also at 90%.

With upcoming SEC deadlines for October, traders expressed optimism on the platform. Final SEC deadline for Solana is October 20, while the Commission will make a decision for Litecoin products before October 2.

Meanwhile, institutional favorite asset XRP trails the top two with odds at 85%. This year, speculations on Polymarket also hit similar figures. After the SEC delayed Franklin Templeton’s spot XRP ETF till June 17, users sparked a conversation on the approval process.

“This is heating up. We had the surprising development of the FTC shutting down a crypto scam that was targeting older Americans. Also, Chair Atkins’s confirmation hearing went smoothly, which is a good sign for more ETF approvals. Finally, rumors of a Strategic Bitcoin Reserve are swirling again. Could this administration really be considering such a move? It would certainly have a major impact on the crypto markets and might be a decisive factor in the final outcome of the pending spot Bitcoin ETF applications. As the hearing went well, I'd say the odds are shifting in favor of more ETF approvals. It will be interesting to see what unfolds in the coming weeks as the final decision looms large.

In a related note, 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. But I think we'll see more action on the existing filings before that. We also had the SEC delay decisions on Ethereum Staking and Dogecoin ETFs today, Seyffart concluded.

In recent months, there has been a huge institutional appetite for altcoin products after the massive success of Bitcoin products. Last year, spot Bitcoin ETFs recorded nearly $40 billion, pushing the asset to new all-time highs.

The Trump Effect Boosts Odds

The Trump administration's stance on crypto regulation is playing a role in the surprising shift in favor of altcoin ETF approval odds, which are now soaring as high as 90%.

While the approval of spot Bitcoin and Ethereum products before Trump's second term was no small feat given the legal challenges that ensued, it seems like a natural progression in the broader scheme of events.

It's interesting to note that former SEC Chair Gary Gensler's regime was largely viewed as placing stricter limits and posing more roadblocks to innovation in the crypto space.

However, the narrative appears to be changing with Trump's second term seeing a shift towards pro-crypto appointments and policies. This includes the formation of a crypto task force and rumors of a Strategic Bitcoin Reserve.