The U.S. SEC is expected to approve spot ETFs for several altcoins, including Solana (SOL), XRP, Litecoin (LTC), Dogecoin (DOGE), Cardano (ADA), Polkadot (DOT), Hedera (HBAR), and Avalanche (AVAX). This move is anticipated to significantly impact the cryptocurrency market, potentially leading to increased mainstream adoption and investment opportunities. The SEC has already approved spot ETFs for Bitcoin and Ethereum.
Analysts estimate a 95% chance of approval for Solana, XRP, and Litecoin spot ETFs by the end of 2025. Dogecoin, Cardano, Polkadot, Hedera, and Avalanche spot ETFs have a 90% chance of approval. Spot Bitcoin ETFs now manage over $100 billion in assets, with BlackRock's iShares Bitcoin Trust (IBIT) reaching $70 billion in assets under management faster than any fund in history.
Market performance of these cryptocurrencies is as follows: Solana ($139.98, -4.29%), XRP ($2.13, -1.39%), Litecoin ($83.43, -1.65%), Dogecoin ($0.163, -3.84%), Cardano ($0.584, -2.74%), Polkadot ($3.45, -2.27%), Hedera ($0.145, -1.32%), and Avalanche ($17.53, -2.94%). The SEC's engagement with ETF filings signals a growing acceptance of cryptocurrencies within traditional financial markets. (Source: Reuters)