XRP has officially joined the ranks of Solana and Litecoin as one of the top contenders for U.S. spot ETF approval, according to leading Bloomberg analysts. With the U.S. Securities and Exchange Commission (SEC) taking a notably more constructive stance toward digital asset products, experts now place the odds of approval for an XRP spot ETF at 95%—a jump from the previously estimated 85%.

SEC Signals Growing Openness to Crypto ETFs

Bloomberg’s well-regarded ETF analysts, James Seyffart and Eric Balchunas, have raised their approval odds for multiple spot crypto exchange-traded funds (ETFs) to 90% or higher. Their latest update suggests that the SEC is more open than ever to expanding crypto access beyond Bitcoin and Ethereum.

This shift comes amid an uptick in dialogue between ETF issuers and the SEC, particularly around product filings, risk disclosures, and structure adjustments. The analysts believe this collaborative momentum is paving the way for the first wave of spot ETFs tied to alternative cryptocurrencies.

XRP ETF Odds Jump as Market Readies for Expansion

Previously, spot XRP ETFs had an estimated 85% chance of approval. But with increased engagement from regulators and a broader positive outlook across the digital asset space, approval odds have now risen to 95%.

This would mark a significant milestone for XRP, which is currently the fourth-largest cryptocurrency by market capitalization and has long been in regulatory limbo following the SEC’s lawsuit against Ripple Labs. Though legal uncertainty once cast doubt over its ETF viability, the tide appears to be turning.

Other Top Contenders: Solana, Litecoin, and More

XRP isn’t alone in this top approval tier. Solana (SOL) and Litecoin (LTC) have also been given approval odds of 90% or higher. Litecoin, in particular, has long been viewed as a strong ETF candidate, thanks in part to the CFTC’s past classification of LTC as a commodity.

Canary Capital, a firm active in the crypto ETF space, has reportedly seen signs of active engagement with the SEC over its proposed Litecoin ETF, further strengthening expectations of a positive outcome.

SEC Engagement Shows ETF Landscape Is Evolving

Analysts say the SEC has requested updated S-1 filings from Solana ETF issuers, a clear signal that regulatory evaluation is progressing. While this doesn’t guarantee approval, such a step usually occurs in the final stages of consideration, often preceding approval reveal.

Meanwhile, ETF filings for other coins—including Dogecoin, Cardano, Polkadot, HBAR, and Avalanche—have also seen approval odds jump to around 90%, indicating that the SEC’s evolving approach is not limited to just a few blue-chip altcoins.

What’s Holding Back Other Projects?

While optimism is growing, not all crypto projects are on the SEC’s radar—at least not yet. Several funds remain “off the board,” including those tied to TRON, TRUMP, and altcoins exploring staking-based yield products.

According to Seyffart, these products haven’t yet submitted 19b-4 filings, a key regulatory form that allows the SEC to begin the formal review process for ETFs. However, he expects that these submissions will arrive soon, opening the door for more coins to be evaluated in the coming months.

Canary’s SUI ETF Gains Initial Approval Estimate

In a notable development, the Canary Capital SUI ETF has also received attention from analysts. While not yet a frontrunner like XRP or Solana, the fund has earned a 60% approval estimate, which is a significant entry point into the ETF conversation for lesser-known digital assets.

This suggests that even emerging blockchains are beginning to gain a foothold in regulatory circles—if not yet in the immediate approval pipeline.

The Timing Is Still Uncertain

Despite the overwhelmingly positive outlook, Bloomberg analysts caution that timing remains unclear. Even though regulatory attitudes have softened and dialogue has increased, the actual dates of potential approvals are still in question.

This uncertainty highlights the SEC’s measured, sometimes unpredictable approach to cryptocurrency regulation. Approval may come in stages, or all at once, depending on how quickly outstanding issues are resolved.

What Does This Mean for the Crypto Market?

If ETFs tied to assets like XRP, Solana, and Litecoin are approved, it could significantly widen access to these digital currencies for retail and institutional investors alike. Spot ETFs make it easier for investors to gain exposure to crypto through traditional brokerage accounts, without the complexity of self-custody or direct exchange use.

Moreover, ETF approval could help legitimize these assets in the eyes of regulators and financial institutions, potentially accelerating adoption and price appreciation.

Conclusion

With XRP now firmly in the top tier of ETF approval prospects, the crypto world is holding its breath for what could be a transformative year. Bloomberg’s 95% approval odds for XRP signal a major turning point in how regulators view digital assets beyond Bitcoin and Ethereum.

The SEC’s more collaborative stance, combined with growing industry maturity, may soon lead to a new wave of crypto ETFs—offering broader investor access, greater legitimacy, and stronger institutional demand.

If these approvals materialize, 2025 could be the year altcoin ETFs finally become mainstream.