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There is a 95 percent chance that the SEC will approve a spot ETF linked to the fourth-largest cryptocurrency asset, placing XRP second only to Litecoin and Solana on ETF approval prospects.

James Seyffart and Eric Balchunas, Bloomberg ETF analysts, have raised their approval odds for several spot crypto ETFs to 90 percent or higher this year due to increasing conversations between issuers and the SEC.

The previously 85 percent approval likelihood of spot XRP ETFs has risen by 10 percent. Approval chances for potential funds associated with Avalanche, Polkadot, HBAR, Dogecoin, and Cardano have also increased to 90%.

 Analysts have provided an initial estimate of 60% for Canary’s spot SUI ETF. The SEC is also examining several cryptocurrency investment products outside the ETFs listed on Bloomberg’s approval odds board. These include funds that seek to incorporate staking and altcoin-linked ETFs like TRON and TRUMP. Seyffart claims that the absence of a 19 means such funds are off the board.

Litecoin ETFs have long been at the top of approval watchlists because the CFTC has previously referred to LTC as a commodity in its legal filings.

Some of the earliest indications of SEC involvement were found in Canary Capital’s proposed Litecoin ETF. Recent requests for updates to S-1 filings from Solana ETF issuers by the SEC suggest that potential approvals may be out soon. Although there is increasing hope for possible crypto ETF launches this year, Seyffart pointed out that it is “uncertain” when the expected approvals will occur.