According to an analysis of spot exchange-traded fund (ETF) applications by Bloomberg analysts, the likelihood of positive decisions on several products, including those based on Litecoin, Dogecoin, Solana, and XRP, is considered high.

NEW: @EricBalchunas and I took a look at the filings for spot crypto ETFs. We're putting out relatively high odds of approval across the board. Mainly focused on Litecoin, Solana, XRP, and Dogecoin for now.

Here's the table with the odds and some other details: pic.twitter.com/xaXaNXLb0M
— James Seyffart (@JSeyff) February 10, 2025

The U.S. Securities and Exchange Commission (SEC) has already begun reviewing the 19b-4 forms for LTC and DOGE.

Analysts Eric Balchunas and James Seyffart believe that Litecoin should be classified as a “commodity” rather than a “security,” and that Dogecoin may receive the same classification.

The final deadline for reviewing the applications is October. The probability of a positive outcome ranges from 65% to 90%.

Analysts refrained from commenting on the chances for approval of applications based on Hedera Hashgraph and Polkadot.

Experts highlighted several factors that may influence the decision:

Applications for XRP and Dogecoin will be considered this week.
By the end of 2025, the SEC’s digital asset working group, led by Hester Peirce, will aim to clarify issues regarding the status of tokens in ongoing legal battles with industry representatives.
Balchunas and Seyffart believe that if Donald Trump loses the presidential election, progress on crypto-ETFs will be minimal, except for the LTC-ETF.

Approval for an XRP-based ETF will only be possible after the resolution of the ongoing dispute between the SEC and Ripple, but experts are confident that this will happen in one form or another.

ADA-ETF

On October 11, NYSE Arca filed a 19b-4 form to convert Grayscale Cardano Trust into an ETF.

Coinbase Custody Trust Company will act as the custodian, and BNY Mellon Asset Servicing will serve as the administrator.

Additionally, Tuttle Capital Management filed a proposal with the SEC to register ten leveraged crypto-ETFs, including those based on TRUMP and MELANIA. Other funds will be based on Bonk, BNP, and Chainlink.

Earlier in January, CBOE, on behalf of ARK Invest and 21Shares, filed a proposal to restructure the ARK 21Shares Bitcoin ETF and 21Shares Core Ethereum ETF to allow for the purchase of assets in physical form.

Nasdaq also submitted a similar proposal for adjusting rules for BTC-ETFs.