The SEC is likely to approve SOL, XRP, and DOGE ETFs in the coming months. This, as another $1M Bitcoin prediction could cause new crypto projects to explode.

The U.S. Securities and Exchange Commission (SEC) is likely to approve several spot crypto exchange-traded funds (ETFs) in the coming months, with the first batch of approvals expected by July 2.

This prediction comes from Bloomberg analysts Erich Balchunas and James Seyffart, who assessed the probability of an approval at 75%. Their analysis spans the past 18 months, examining the varying levels of optimism and pessimism surrounding the topic.

The analysts' prediction is based on their reading of the SEC's actions and statements. They also consider the fact that several major institutions, such as BlackRock and Vanguard, have applied for spot Bitcoin ETFs.

If the SEC does approve spot crypto ETFs, it would be a major development for the cryptocurrency industry. It would open up new investment opportunities for retail investors and could lead to increased adoption of cryptocurrencies.

The SEC has already approved several futures ETFs, which track Bitcoin futures contracts. However, spot ETFs would directly track the price of Bitcoin and other cryptocurrencies.

The approval of spot crypto ETFs would be consistent with the SEC's stated goal of expanding investment opportunities for retail investors. It would also be in line with the Biden administration's stated priorities, such as expanding access to financial products and services.

The approval of spot crypto ETFs would be a welcome development for the cryptocurrency industry. It would help to legitimize the industry and could lead to increased adoption of cryptocurrencies by institutional investors.

The SEC is expected to make a decision on the spot crypto ETF applications by the end of the year. However, it is possible that the agency could approve some of the applications as early as July 2.

In other news, K33 Head of Research Vetle Lunde has revealed that Bitcoin's 7-day realized correlation has hit a 1.5-year low.

This signals that Bitcoin is entering a new phase of maturity as a financial asset, gaining stability and becoming more reliable for long-term use.

"We haven't seen 7-day realized correlation this low since early-mid 2022. BTC is entering a new phase of maturity as a financial asset. It's becoming less sensitive to short-term price fluctuations and more reliable for long-term use," Lunde stated.

Earlier this year, Glassnode also made a similar observation, noting that Bitcoin's volatility chart looks less dramatic than it did in previous cycles.

This assessment holds even more weight when considering that Bitcoin currently ranks 7th among the top assets ranked by market cap, surpassing silver, Saudi Aramco, and Meta (formerly Facebook).

However, if you still perceive Bitcoin's entrenchment as a temporary phase, analyst Marion Laboure from Deutsche Bank has a different perspective.

"I could potentially see Bitcoin becoming the 21st century digital gold. Let's not forget that gold was also volatile historically," Laboure remarked.

As Bitcoin continues to solidify its position, stay updated with some of today's best altcoins, such as Solaxy ($SOLX) and BTC Bull Token ($BTCBULL), as they offer promising presales with the potential for substantial gains.