After Successful Bitcoin (BTC) and Ethereum (ETH) Spot ETF Debuts, the Focus Has Now Shifted to Adding More

After the successful debuts of Bitcoin (BTC) and Ethereum (ETH) spot ETFs last year, the focus has now shifted to adding more single-crypto

After the successful debuts of Bitcoin (BTC) and Ethereum (ETH) spot ETFs last year, the focus has now shifted to adding more single-crypto ETFs for investors.

Besides Solana, altcoins like HBAR, Litecoin, ADA, Dogecoin, and XRP have seen growing interest, and recent filings suggest they might get approved.

Litecoin Has Strongest Chance for ETF Approval, Analyst Says

According to James Seyffart, Bloomberg ETF analyst, Litecoin has the best chance of getting an ETF approval; a 90% probability.

This is because of Litecoin’s unique situation within the regulatory system. To get approved, two parts of the U.S. Securities and Exchange Commission (SEC) need to agree: the Division of Trading and Markets, and the Division of Corporate Finance.

Litecoin seems to have an easier path than others because it’s not involved in any lawsuits that have termed it a security.

SEC Approval Process for Crypto ETFs Is Complex

The process to get an ETF approved is long and complicated. Seyffart explained that getting an ETF approval means overcoming many regulatory obstacles, making it feel like just “step one of many.”

However, filings for Litecoin and HBAR have shown some progress in recent weeks, suggesting things are moving forward.

The filings by Canary, the company applying to launch both Litecoin and HBAR ETFs, seem to be advancing with the SEC. Nonetheless, it remains unclear if this progress is due to the assets themselves or the strategy employed by their issuers.

Dogecoin and HBAR also appear to have a viable chance at approval. Dogecoin, in particular, is seen as less likely to face SEC scrutiny for classification as a security. HBAR’s status is a bit less certain, but experts still believe it has a better-than-average chance.

Solana, XRP, and Other Altcoins Face ETF Uncertainty

Popular altcoins like Solana, XRP, Cardano, and Polkadot remain in a more uncertain position.

According to the expert, the main question is whether the SEC will consider these digital assets as securities. If so, it could make it harder for them to be listed in a commodities-based ETF structure. Despite this uncertainty, he remains optimistic that these altcoins will eventually find a way to move forward.