XRP news today: Bloomberg Raises Solana ETF Approval Odds to 90% by 2025

Bloomberg Intelligence has raised its estimate of the likelihood of US regulators approving a Solana exchange-traded fund (ETF) in 2025 to 90%, according to an April 30 post. This revised outlook indicates a significant shift in the regulatory landscape for cryptocurrencies, particularly for altcoins like Solana.

Bloomberg analyst Eric Balchunas noted that the chances of approval for other altcoin ETFs, including those holding XRP and Dogecoin, have also improved. This positive outlook contrasts with earlier estimates from February, when Bloomberg pegged the odds of a Solana ETF approval at 70%, and 65% and 75% for XRP and DOGE, respectively.

As of April 30, six asset managers, including Grayscale, VanEck, and 21Shares, are awaiting clearance from the US Securities and Exchange Commission (SEC) to list ETFs holding Solana's native cryptocurrency. The same number of issuers are waiting on approval for XRP ETFs, and three are seeking approval for DOGE funds. The SEC has until October to review and potentially approve the proposed funds.

This surge in ETF filings reflects a broader trend of increasing acceptance and regulation of cryptocurrencies within the traditional financial sector. The listing of Solana futures contracts on the Chicago Mercantile Exchange (CME) in March further signals that approvals for Solana ETFs could be imminent. Chris Chung, founder of Solana-based swap platform Titan, noted that this listing on a regulated futures exchange is a positive indicator for ETF approvals.

However, the timeline for approvals could extend into 2026 due to the SEC's precedent of taking 240–260 days to review filings, according to a previous forecast by Bloomberg analyst James Seyffart. In April, Nasdaq asked regulators for permission to list a 21Shares ETF holding Dogecoin, adding to the roster of DOGE funds awaiting a US public listing.

The approval of Solana and Litecoin ETFs would mark a significant milestone for the cryptocurrency industry, providing investors with a regulated and accessible way to gain exposure to these digital assets. This could lead to increased institutional investment and further legitimize cryptocurrencies as a viable asset class. The approval of these ETFs would also set a precedent for other cryptocurrencies, potentially paving the way for the approval of ETFs for other digital assets in the future.

The high approval odds for Solana and Litecoin ETFs are part of a broader trend of increasing acceptance and regulation of cryptocurrencies. Bloomberg Intelligence has also estimated a 90% approval probability for crypto asset basket/index ETFs, 85% for XRP, 80% for DOGE and HBAR, and 75% for other cryptocurrencies. This indicates a growing trend of acceptance and regulation of cryptocurrencies within the traditional financial sector.

The approval of these ETFs would also have implications for the broader cryptocurrency market. Increased institutional investment could lead to greater price stability and liquidity, making cryptocurrencies a more attractive investment option for a wider range of investors. Additionally, the approval of these ETFs could lead to increased competition among cryptocurrency exchanges and service providers, driving innovation and improving the overall user experience.

In conclusion, the high approval odds for Solana and Litecoin ETFs reflect a growing acceptance of cryptocurrencies within the traditional financial sector and a more favorable regulatory environment. The approval of these ETFs would mark a significant milestone for the cryptocurrency industry and could have far-reaching implications for the broader market. As the regulatory landscape continues to evolve, it will be important for investors to stay informed and adapt to the changing environment.