Bloomberg ETF Analysts See Crypto ETF Approvals Coming October 2025

The SEC is set to decide on multiple spot crypto ETFs in October 2025. Fresh Bloomberg data shared by Eric Balchunas shows several digital asset funds in the pipeline, with varying chances of getting the green light. Big names like Grayscale, VanEck, Bitwise, and Canary Capital are leading the charge.

Tokens in the mix? Solana, XRP, Litecoin, Cardano, Polkadot, and Dogecoin. Bloomberg thinks their approval odds range from 60% to 90%. Pretty solid.

Solana and Litecoin Looking Good

Solana and Litecoin ETFs seem most likely to get SEC approval. Kind of surprising how many financial heavyweights want in on Solana - Grayscale, VanEck, 21Shares, Canary, Bitwise, Franklin, and Fidelity have all filed applications.

The first Solana ETF filing hit the SEC's desk January 24, 2025. Decision day? October 10, 2025. Analysts give it a whopping 90% chance.

Litecoin ETFs look equally promising. Same 90% approval odds. Grayscale, Canary, and CoinShares all want a piece. SEC decides by October 2, 2025.

XRP's not far behind at 85%. Grayscale, Bitwise, WisdomTree, and CoinShare all jumped in with proposals on January 30, 2025.

Dogecoin ETFs might actually happen too. That's wild. Grayscale, Bitwise, and 21Shares are waiting for the October 17, 2025 verdict. Bloomberg gives them an 80% shot. Cardano and Polkadot are sitting at 75%, with decisions expected October-November 2025.

Balchunas mentioned last week there's a "really good chance" for memecoin ETFs. "We'll get a slew of active crypto ETFs," he said. Maybe even a memecoin-only fund by 2026? We'll see.

"Alt Season" for ETFs?

Balchunas recently tweeted: "Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way."

His colleague James Seyffart thinks broader crypto index funds might come first. "A broad crypto index fund or two will likely be first. Could be a mini alt season for ETFs," he noted.

The SEC isn't rushing, though. They just delayed decisions on Polkadot and Hedera ETFs on June 11. Grayscale wants to transform its Polkadot Trust into a spot ETF. Canary Capital filed for a Hedera ETF on Nasdaq. Both proposals hit the SEC in February 2025. Now DOT waits until November 8, 2025, and HBAR until November 11, 2025.

The SEC says it "finds it appropriate to designate a longer period within which to take action." Typical bureaucracy.

DOT and HBAR do have regulated futures markets, which might help their case. The SEC seems to follow patterns, after all.

At Paris's Proof of Talk conference, 21Shares President Duncan Moir talked about the race to launch crypto ETPs. He believes in basket products. They make sense.

"It's like you don't know which one is going to be the winner. So you buy a basket [of them all], it's a no-brainer," Moir said during a panel. "I think that's going to be a big trend that we're seeing. It'll be interesting to see how and when people can bring basket products to market in the United States."