Bloomberg's Eric Balchunas Shares Updated Chances of Various Spot Cryptocurrency ETFs Getting Approved by the SEC

The U.S. Securities and Exchange Commission (SEC) could be making a major decision soon that could have huge implications for the cryptocurrency market.

In a recent update, Bloomberg's Senior ETF Analyst Eric Balchunas shared fresh insights into the chances of various spot cryptocurrency ETFs getting approved by the SEC.

In a post on X, formerly known as Twitter, Balchunas expressed his desire to hear directly from the SEC regarding the ETF applications. While he's eagerly awaiting that, he provided the latest odds for several crypto ETFs getting the green light.

Hoping to hear directly from Atkins, but all good chance of happening. Here’s our latest odds of approval for all the dif spot ETFs via @JSeyff https://t.co/nLhYJJmO9U pic.twitter.com/4AcJVwhics

— Eric Balchunas (@EricBalchunas) August 18, 2024

The analyst has compiled the approval probabilities for major cryptocurrencies such as Litecoin, Solana, XRP, and others. Some of these coins have a staggering 90% chance of seeing their ETFs approved by 2025.

To put this into perspective, Balchunas has been tracking the chances of various ETFs getting approved for over two years. His predictions have proven to be remarkably accurate, which is a testament to his deep understanding of the SEC's decision-making processes.

Here's a concise summary of the latest odds for major crypto ETFs:

Most of these crypto assets are likely to be treated as commodities by the SEC, which further enhances their chances of approval.

The report also highlights key dates and regulatory deadlines for each ETF. It's evident that the crypto market is gradually becoming integrated into the traditional financial sphere.

The approval of these ETFs would provide a convenient and accessible way for a broader range of investors to participate in the cryptocurrency market.