Hold onto your wallets, folks! The crypto market is buzzing like a bee on a caffeine high! 🐝☕ Bloomberg’s very own James Seyffart has cranked up the excitement, raising the chances of Solana (SOL) and Litecoin (LTC) spot ETFs getting the green light to a whopping 90%! That’s right, 90%! Who knew math could be this thrilling? 🎉
In his latest crystal ball gazing, Seyffart spilled the beans on June 10 via X (formerly known as Twitter, because why not change names like we change socks?). XRP is trailing close behind at 85%, while Dogecoin (DOGE) is wagging its tail at 80%. And let’s not forget the other contenders: Cardano (ADA), Polkadot (DOT), Hedera (HBAR), and Avalanche (AVAX) are all sitting pretty at 75%. It’s like a crypto popularity contest, and everyone’s invited! 🎊
Approval Odds
The SEC is on the case, reviewing proposals for those shiny new Solana ETFs. According to the latest gossip from Blockworks, they’ve asked issuers to whip up some updated S1 registration forms faster than you can say “cryptocurrency.” They’re planning to review and comment on these filings in just 30 days. Talk about a fast track! 🚀
But wait, there’s more! The SEC is getting cozy with the idea of staking as part of the Solana ETF structure. It’s like they’re finally warming up to the idea of a crypto cuddle! One insider even suggested that these changes could speed things up, possibly putting the investment vehicles on the fast track for approval in just three to five weeks. Can you say “money train”? 🚂💸
Major players like Grayscale, VanEck, 21Shares, Canary Capital, Bitwise, and Franklin Templeton are all in the race to launch a Solana ETF. It’s like the Olympics of finance, and everyone wants a medal! 🥇
Expert Says Delays Are Normal
Now, let’s talk about the SEC’s love for delays. They acknowledged Grayscale’s Solana ETF proposal back in February, but then hit the brakes in May, citing “unresolved issues.” It’s like waiting for your pizza delivery—always a little longer than expected! 🍕⏳
Seyffart, the oracle of crypto, says these delays are just part of the game. If the SEC were to give any altcoin ETFs the thumbs up, it wouldn’t be until late June or early July. Realistically, we’re looking at a timeline that stretches all the way to the fourth quarter of 2025. So, grab your popcorn and settle in! 🍿
Meanwhile, while the U.S. market is twiddling its thumbs, other countries are racing ahead. Brazil already launched its first spot Solana ETF in August 2024, and Hashdex is hot on its heels. Talk about a crypto fiesta! 🎉🌎
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2025-06-11 20:34