Recent developments in the cryptocurrency market have sparked renewed optimism, particularly regarding the potential approval of several exchange-traded funds (ETFs) focused on major digital assets. Experts at Bloomberg Intelligence, including James Seyffart and Eric Balchunas, have made headlines by upgrading the approval outlook for spot crypto ETFs involving XRP, Solana (SOL), and Litecoin (LTC) to an impressive 95 percent likelihood by the conclusion of 2025. This optimistic forecast was shared on social media, detailing expectations of a surge in ETF approvals.

Positive Trends for Crypto ETF Approvals

The revised analysis indicates a robust 95 percent approval probability across several categories, including XRP, SOL, LTC, and a collective “basket/index” ETF that could encompass various cryptocurrencies. This basket would effectively transform several major crypto funds, such as those from Grayscale and Bitwise, into single-asset spot ETFs. Importantly, all related applications have received initial acknowledgments from the SEC, paving the way for potential approvals within the next year.

Close behind in potential approval odds are cryptocurrencies like Dogecoin, Cardano, Polkadot, Hedera (HBAR), and Avalanche, each sitting at 90 percent likelihood. Sui is currently viewed more cautiously at 60 percent. Meanwhile, Tron and micro-cap token Pengu remain undecided at 50 percent, emphasizing the ongoing uncertainties surrounding commodity classification in the SEC’s assessment.

This latest upswing to 95 percent marks the third increase in predictions over a mere few months. In June, Balchunas and Seyffart raised altcoin ETF probabilities to “90% or higher,” citing substantially positive feedback from SEC personnel. Prior assessments, dating back to April, saw SOL rated at 70 percent and XRP at a conservative 65 percent. Considering these changes, XRP and LTC have recorded an increase of about 30 points since January, with SOL rising by 25 points.

Three critical factors are driving this optimistic shift in predictions. Firstly, the anticipated decision regarding Grayscale’s Digital Large Cap Fund (GDLC) is on the horizon, with the SEC required to announce its ruling soon. This fund, valued at $730 million, contains a modest allocation of XRP, SOL, and Cardano alongside Bitcoin and Ether.

Seyffart indicated that the SEC might approve GDLC due to its limited non-BTC/ETH exposure. If it doesn’t receive the green light, it could signal the SEC’s lack of readiness for a comprehensive regulatory framework. Meanwhile, industry leaders suggest that approval seems highly probable, creating a foundational environment for further investments and regulatory understanding before launching dedicated altcoin ETFs.

Notably, each cryptocurrency noted with a 90 percent chance or higher has already been recognized as a commodity in SEC dialogues and trades on CFTC-regulated venues. Seyffart believes that these advances imply a favorable view of the underlying altcoins as commodities.

A further positive sign lies in the active dialogues between the SEC and ETF issuers. Leading firms, such as Canary, VanEck, 21Shares, and Fidelity, have actively engaged with the SEC, submitting revised S-1 statements following the agency’s requests. This pattern mirrors the lead-up to successful approvals for spot Bitcoin and Ethereum ETFs earlier this year.

If GDLC receives approval shortly, the focus will quickly shift to the queue of single-asset ETFs. Critical deadlines are approaching for other cryptocurrencies, with Solana’s deadline set for October 10, 2025, and several others trailing in mid-October and November. These details remain crucial for investors and market observers eager to gauge the evolving landscape of cryptocurrency’s acceptance in traditional financial markets.

As of now, XRP is trading at approximately $2.21, reflecting the market’s keen interest in these developments.