Bloomberg Analyst Announced: A Critical Day for Established Altcoin Today! "SEC Decision Awaited!"

Bitcoin and Ethereum ETFs are expected to receive approval from the SEC in 2024, leading to ETF applications for many altcoins such as XRP, Litecoin (LTC) and Solana (SOL).

While the chance of approval for these altcoin ETFs in 2025 is seen as quite high, Bloomberg ETF analysts have set the approval probabilities at LTC and SOL at 90%; 85% for XRP; Dogecoin (DOGE) and Hedera (HBAR) ETF at 80%; and Cardano (ADA), Polkadot (DOT), and Avalanche (AVAX) at 75.

As expectations remain high, Bloomberg ETF analyst James Seyffart stated that the SEC is expected to make a decision on the Litecoin ETF applied for by Canary Capital by May 5.

Although the SEC had previously delayed several applications, Canary Capital’s LTC application was not included in the delay decisions.

At this point, Seyffart predicts that the Litecoin spot ETF may have a chance of early approval, but it is likely that the SEC will prefer to postpone the final decision rather than directly approve or deny it.

So Seyffart personally indicated that he was expecting a delay.

"Canary Funds Litecoin ETF application is expected to be decided by May 5, which is Monday.

SEC acted early on other ETF applications and postponed many applications.

But it did not postpone this. This increases the chance of the LTC ETF being approved at an earlier date. Because if any asset has a chance of early approval, it is Litecoin.

Personally, I think it’s more likely that a postponement decision will be made, but it’s definitely something to be careful about.

Litecoin (LTC) continues to trade at 87.9 dollars during writing.