Bloomberg Intelligence has significantly increased its estimated odds of the U.S. Securities and Exchange Commission (SEC) approving a Solana exchange-traded fund (ETF) in 2025, raising the probability to 90%. This announcement was made in a post on the X platform on April 30 by analyst Eric Balchunas.
In addition to Solana, Bloomberg analysts have also expressed more favorable opinions regarding the approval of other altcoin ETFs, such as those holding XRP and Dogecoin, which have been assigned odds of 65% and 75%, respectively. This marks a positive shift from earlier projections, which had estimated the chances of a Solana ETF’s approval at only 70% earlier this year.
As of the latest updates, six asset managers—including Grayscale, VanEck, and 21Shares—are currently awaiting clearance from the SEC to launch ETFs linked to the native cryptocurrency of the Solana blockchain. A similar number of issuers are pursuing approval for XRP ETFs, while three are seeking it for Dogecoin funds, according to Bloomberg’s data. The SEC is expected to review these proposals by October.
The ongoing enthusiasm among asset managers for launching altcoin ETFs reflects a broader trend, with reports indicating that as many as 70 cryptocurrency ETFs are currently awaiting SEC review. This surge in filings is believed to be influenced by recent regulatory changes and a concerted effort by industry players to soften the SEC’s approach to cryptocurrency regulations.
In a related development, the Chicago Mercantile Exchange (CME), the largest derivatives exchange in the U.S., listed futures contracts tied to Solana in March. According to Chris Chung, founder of a Solana-based swap platform, this move suggests that the approval of Solana ETFs could be on the horizon.
Nevertheless, it is important to note that the SEC has a historical precedent of taking 240 to 260 days to review filings, which could push the anticipated timeline for Solana ETF approvals into 2026, as previously discussed by Bloomberg’s analysts.
Additionally, Nasdaq has also filed for permission to list a 21Shares ETF holding Dogecoin, further contributing to the growing list of DOGE funds awaiting public listings in the U.S.
Related: SEC acknowledges slew of crypto ETF filings as reviews, approvals accelerate
The current landscape of cryptocurrency ETFs remains dynamic, and industry watchers are keenly observing the regulatory landscape in anticipation of future developments.
