Solana, Litecoin ETFs Near SEC Verdict as Approval Odds Hit 95%

The battle for the third approved crypto ETF in the US is heating up between Solana (SOL) and Litecoin (LTC). As the SEC reviews nearly...

Written by: Arslan Butt • Saturday, June 21, 2025 • 2 min read

• Last updated: Saturday, June 21, 2025

Quick overview

The competition for the third approved crypto ETF in the US is intensifying between Solana (SOL) and Litecoin (LTC) as the SEC reviews nearly 100 filings.
Bloomberg analysts have raised the approval odds for Solana and Litecoin to 95%, while XRP faces challenges due to ongoing legal issues.
Solana's ETF proposal includes innovative staking features and a stronger regulatory position, giving it a slight edge over Litecoin.
The SEC's favorable climate for crypto, following the resignation of Chair Gary Gensler, may lead to a decision by late 2025.

The battle for the third approved crypto ETF in the US is heating up between Solana (SOL) and Litecoin (LTC). As the SEC reviews nearly 100 ETF filings, both tokens are top contenders. The stakes are high and retail and institutional investors are watching to see which altcoin will get the nod.

So far only Bitcoin and Ethereum spot ETFs have been approved, both of which saw significant price increases and institutional inflows. Investors are betting that approval for Solana or Litecoin will see similar rallies.

The pressure is mounting as the SEC remains silent. With geopolitical uncertainty and crypto regulation in flux, this decision will shape the altcoin market for the rest of 2025.

95% Chance of Approval

Bloomberg analysts just increased the approval odds to 95% for Solana, Litecoin and XRP (Ripple) though XRP still lags due to its ongoing legal issues with the SEC. Solana and Litecoin are both likely to get approved but their paths are different in structure and risk profile.

Key differences between Solana and Litecoin ETFs:

Solana Trust (Grayscale) holds 0.1% of total supply with no discount history
Litecoin Trust manages 2.65% of supply and trades at a discount, meaning potential selling pressure
Solana has more ETF filings than Litecoin, strengthening its regulatory position
Staking feature in the Solana ETF proposal adds innovation but regulatory complexity

Social media sentiment and Polymarket prediction markets also reflect this divergence. SOL ETF odds have been above 90% for weeks, Litecoin only recently broke above 83%.

SEC Climate is Favorable for Crypto

The resignation of SEC Chair Gary Gensler has given crypto bulls hope for faster and more crypto-friendly approvals. With the agency showing openness to digital asset products, the stage is set for a big decision – likely in late 2025.

Notably, the Grayscale Solana Trust has a relatively small market footprint, so post-approval disruption will be minimal, an advantage over Litecoin. But Litecoin has a longer history and is simpler so may appeal to more conservative regulators.

Both are strong candidates but Solana has a slight edge based on filings, trust structure and institutional interest.

In summary:

Approval odds for both SOL and LTC ETFs are at historic highs
Solana may edge ahead due to staking features and trust structure
SEC’s final decision could arrive in Q4 2025

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.