Litecoin and Dogecoin prices surge as analysts predict high likelihood of LTC and DOGE ETFs

Bloomberg’s senior ETF analysts James Seyffart and Eric Balchunas recently shared their projections regarding the chances of Litecoin (LTC) and Dogecoin (DOGE) ETFs getting approved. According to the analysts, LTC ETFs have a high likelihood of approval by the U.S. Securities and Exchange Commission (SEC). They believe that Grayscale and Canary Capital’s Litecoin ETFs have a 90% chance of receiving approval this year, while Dogecoin ETFs have a 75% chance.

The news of this projection quickly spread across “Crypto Twitter,” causing a surge in the prices of Litecoin and Dogecoin. Dogecoin saw an increase of over 6% in a day, while Litecoin showed a rise of more than 12% in the past 24 hours. The analysts also mentioned that SEC approval odds may improve as the filing process progresses.

Seyffart and Balchunas explained that the SEC may likely perceive Litecoin and Dogecoin as commodities rather than securities, which could influence the approval process positively. Their assessment indicated that these cryptocurrencies face better chances of approval compared to other altcoins designated as securities by the SEC under Gary Gensler’s regulation.

Additionally, the analysts discussed the odds of approval for Solana (SOL) and XRP ETFs. While there were more applicants for Solana and XRP ETFs, the likelihood of approval for these cryptocurrencies is relatively lower. They foresee a 70% chance of Solana ETFs getting approval this year, with the SEC already acknowledging 19b-4 filings. As for XRP ETFs, the analysts estimated a 65% chance of receiving approval due to the ongoing lawsuit between the SEC and Ripple.

Concerning Hedera (HBAR) and Polkadot (DOT) ETF filings, the analysts could not provide detailed information, but they suggested that the SEC might view these cryptocurrencies as commodities. They highlighted that the odds of approval for crypto ETFs, including Hedera and Polkadot, could increase over time as they undergo the approval process.

In conclusion, the analysts emphasized the potential for cryptocurrency ETFs’ approval in 2025, particularly after the SEC’s approval of spot Bitcoin and Ethereum ETFs last year. They believe that this year could pave the way for more altcoin ETF approvals, especially given the changes in leadership at the SEC. Overall, the prospects for Litecoin and Dogecoin ETFs appear favorable, indicating a significant shift in the ETF landscape for cryptocurrencies.