"ETF Odds Soar for XRP, Dogecoin, Litecoin as SEC Warms Up"
1min read Analysts are expressing optimism about the prospects of exchange-traded funds (ETFs) for XRP, Dogecoin, and Litecoin, with approval odds deemed high. The shifting regulatory climate has bolstered hopes for approval, as the U.S. Securities and Exchange Commission (SEC) has already passed initial checks for certain tokens in recent weeks.
James Seyffart, a well-followed ETF analyst, predicted that the odds of a Litecoin (LTC) ETF going live in the coming months are as high as 90%, with Dogecoin (DOGE) next at 75% odds. Seyffart has made similar predictions for Bitcoin (BTC) ETFs before their launch in 2024. Several providers have filed ETFs for various major tokens in the past year under the Biden administration, but the SEC has shown low interest in these filings.
LTC has seen a 15% increase in the past 24 hours, outperforming BTC's 2% increase, while DOGE has risen by 6%. The shifting regulatory climate has raised hopes for approval, with the SEC having already passed initial checks for certain tokens in recent weeks.
Bloomberg Intelligence's Seyffart stated, "We're putting out relatively high odds of approval across the board. Mainly focused on Litecoin, Solana, XRP, and Dogecoin for now. Big implications/expectations in these odds are that filings will be acknowledged. Likely this week for XRP and Dogecoin." Seyffart added, "The odds for everything on this list -- Aside from maybe Litecoin -- would have been VERY very low if Dems were still in control."
Prospective Litecoin ETFs could potentially attract inflows of up to $580 million if investors adopt them at the same rate as Bitcoin ETFs. Analysts are closely monitoring the regulatory landscape and the potential impact of these ETFs on the cryptocurrency market.
