Bloomberg ETF Analysts Eric Balchunas and James Seyffart have raised their odds for approval of spot XRP, DOGE, and ADA ETFs to 90%. “Eric Balchunas and I are raising our odds for the vast majority of the spot crypto ETF filings to 90% or higher,” Bloomberg ETF Analyst James Seyffart said on X. “Engagement from the SEC is a very positive sign in our opinion.” Crypto ETFs enable investors to bet on the price of a specific cryptocurrency without having to hold it, and have already attracted tens of billions of dollars in investment capital.

Less than two weeks ago, Balchunas and Seyffart had the odds of spot XRP, Dogecoin DOGE, and Cardano ADA ETFs (exchange-traded funds) gaining approval by the end of the year below 90%. Now, XRP, Dogecoin, and Cardano join ETF proposals for Litecoin, Solana, Polkadot, and Avalanche in having a 90% or better chance of being approved by the SEC by the end of 2025.

Why Are the Crypto ETF Odds Higher?

The analysts credit the SEC’s engagement with crypto of late and a rebounding market for the odds rising. Currently, several spot crypto ETFs are awaiting approval from the US regulator. In early June, the SEC requested that spot Solana exchange-traded fund issuers update their S-1 filings, suggesting that approvals could be coming soon.

Upon the approval of the first spot Bitcoin and Ethereum ETFs, attention immediately went to other top digital assets like SOL and XRP. The SEC and Ripple’s legal battle conclusion also sent bullish signals through the crypto industry that the SEC was ready to accept cryptocurrency as a valid asset. As a result, a more crypto-favoring SEC could push forth less-stricter crypto regulation and more pro-crypto rulings.

Also Read: XRP ETF Approved for Toronto Stock Exchange Launch

Additionally, Trump’s return to the White House also brought forth a pro-crypto regime and attitude. The SEC got a new pro-crypto head to replace Gary Gensler, and a new crypto team was founded for the White House. All of these factors are taken into consideration by the Bloomberg ETF analysts, who have heightened their approval odds.