James Seyffart and Eric Balchunas, top ETF analysts, have raised their expectations regarding the permittance of impending spot cryptocurrency ETFs by substantial levels due to the upward trend of involvement by U.S. Securities and Exchange Commission (SEC).
Here’s what Seyffart tweeted on X (formerly twitter):
“Eric Balchunas & I are raising our odds for the vast majority of the spot crypto ETF filings to 90% or higher. Engagement from the SEC is a very positive sign in our opinion.”
Balchunas and Steffart placed Litecoin, Solana, and XRP with the highest possibility among others with 95% odds. At the same time, they noted that Dogecoin, Cardano, Polkadot, Avalanche, and HBAR are most likely to be approved too with all having 90% chance of being listed as spot ETFs. Meanwhile, odds for SUi ETF are much less with 60%, however, for TRX they are unable to give proper odds yet.
This change of voice is an indication of increased confidence within the crypto investment sector since the SEC seems to be friendlier in its talks with ETF issuers. Many believe that this heightened communication is a good indication that it does not take much longer before regulatory approval of several spot crypto ETFs (see Ethereum (ETH) and perhaps other digital assets like XRP ETF approval, Litecoin ETF approval too).
Balchunas and Seyffart: The application of ETFs has been keeping a very close eye on the application and in earlier years had correctly forecasted the important approvals, which included the most anticipated spot Bitcoin ETFs that were approved earlier this year.
In their recent report, they indicate that there is a chance that SEC is losing its stand after any ruling occurred in court of late, the pressure applied by the politicians, and, finally, the introduction of preceding crypto-related funds that so far have been accepted successfully.
Although nothing official has been stated, nonetheless, the analysts believe this is due to developments behind the scenes, as well as proclivities of regulation by the major issuers such as BlackRock, Fidelity and Grayscale demanding spot ETH and other crypto ETFs.
With crypto investment coming of age at an increasingly fast pace investors are eager to know what the SEC says next and a move to authorize regulated exchange-listed means may be a key that opens the door to significant institutional crypto asset adoption on a broader scale.
Also Read : SEC’s July ETF Approval May Kick Off “Altcoin ETF Summer”
