Balchunas: Spot ETFs for Solana, Litecoin May Get Approval Soon

The hype of crypto ETF doesn’t seem to be cooling, and every day there are fresh arguments and claims over the approval of spot ETFs has been floating in the market. As per the recent projection of Bloomberg analysts Eric Balchunas and James Seyffart the ETF pending under SEC has higher chances of approval.

Eric Balchunas’s X post dated April 30, 2025, writes, “ Would love to hear directly from Atkins, but all good chance of happening.” The spot ETF of Litecoin, Solana, and crypto baskets/indexes has the highest chance of approval in the ongoing year.

Litecoin, Solana, and Basket/Index have 90% chances, with XRP having an 85% chance of approval, Dogecoin 80%, Cardano 75%, Polkadot having 75%, HBAR standing at 80%, and Avalanche at 75%.

Crypto ETF market to reach a new high by 2025 end

In the ongoing year, crypto ETFs that are already in the market have shown mixed sentiments, but it is widely said that by the end of this year, the entire ETF category is expected to become double or triple the current value

Issuers such as Bitwise, VanEck, and 21Shares have applications pending and are seeking SEC clearance. In 2024, filings were made, but as of right now, no permissions have been given

The goal of Spot Solana ETFs is to follow the price of SOL, the Solana blockchain’s native cryptocurrency If authorized, JPMorgan projects possible inflows of $3–6 billion.

The most probable ETFs to be approved in 2025 are Solana and XRP ETFs, maybe by Q3, followed by index and combination ETFs Cardano and Polkadot, two more altcoin ETFs, are farther distant, maybe by the end of 2025

Because clearance times depend on regulatory changes, investors should keep a careful eye on SEC statements and legislative events Always seek financial advice and do extensive study before purchasing these unregulated, high-risk items.

Bitcoin spot ETF updates

At the time of writing, the total volume of Bitcoin spot ETFs was $2.10 billion, and the market cap was $112.53 billion and AUM was $112.85 billion. In terms of BTC holdings IBIT by BlackRock stands at the top of the list with 601.21k BTC, FBTC holds 200.87k, GBTC has 190.73k

Since April 21, 2025 till writing the inflow has impressed the investors with around $912.70 million on April 22 and on April 25 the inflow was $917 million

On April 29, 2025, the inflow was $172.80 million and was mainly contributed by IBIT; the iShare Bitcoin Trust by BlackRock has gained huge traction since its launch and is now one of the most popular and traded Bitcoin ETFs in the market.