Bloomberg Intelligence has boosted its estimated odds of US regulators approving a Solana exchange-traded fund (ETF) in 2025 to 90%, according to an April 30 post on the X platform.
The company also set more favorable chances of approval for other altcoin ETFs, including proposed funds holding XRP (XRP) and Dogecoin (DOGE), Bloomberg analyst Eric Balchunas said in an X post.
The estimates reflect an improved outlook from Bloomberg analysts. In a February analysis, Bloomberg pegged the odds of a Solana (SOL) ETF approval at only 70%. They ascribed a 65% and 75% chance of approval to funds holding 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 the Solana blockchain network’s native cryptocurrency.
The same number of issuers are waiting on approval for XRP ETFs, and three are seeking approval for DOGE funds, according to Bloomberg data. The SEC has until October to review and potentially approve the proposed funds.
Related: SEC acknowledges slew of crypto ETF filings as reviews, approvals accelerate
Altcoin ETF mania
Asset managers are seeking the SEC’s permission to list dozens of altcoin ETFs, with up to 70 crypto ETFs awaiting the agency’s review as of April.
The deluge of filings reflects US President Donald Trump’s efforts to soften the SEC’s regulatory posture toward cryptocurrencies since taking office in January.
In March, the Chicago Mercantile Exchange (CME), the US’s largest derivatives exchange, listed futures contracts tied to Solana.
According to Chris Chung, founder of Solana-based swap platform Titan, the listing on the regulated futures exchange signals that approvals for Solana ETFs could be next.
“[T]he timeline could extend into 2026 due to the SEC’s precedent of taking […] 240–260 days to review filings,” Bloomberg analyst James Seyffart also said in a previous forecast.
In April, US securities exchange Nasdaq asked regulators for permission to list a 21Shares ETF holding Dogecoin, adding to the roster of DOGE funds awaiting a US public listing.
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