Bloomberg ETF analysts James Seyffart and Eric Balchunas assessed the chances of approval for several cryptocurrency-based exchange-traded products (ETPs). They expressed optimism about the regulatory prospects for these products, particularly highlighting the likelihood of Litecoin ETFs gaining approval, The Block reported.

According to Seyffart and Balchunas, ETFs tracking the cryptocurrency Litecoin are at the forefront, with a 90% chance of receiving the green light from regulators. Dogecoin-themed products are also promising, with a 75% probability of approval. The analysts further estimated that ETPs based on Solana and XRP have a 70% and 65% chance of approval, respectively.

The positive outlook for these cryptocurrency ETPs comes amid a broader shift in the U.S. government's stance towards digital assets. Since President Donald Trump took office last month, there has been a noticeable pro-crypto repositioning, suggesting that previous regulatory hurdles may be diminishing. This change in attitude has encouraged applications for spot crypto ETFs that track a variety of cryptocurrencies beyond Bitcoin and Ethereum .

The U.S. Securities and Exchange Commission (SEC) had previously approved spot Bitcoin and Ethereum ETFs last year, setting a precedent for other digital asset products.

Balchunas highlighted the significant change in approval odds since the presidential election in November, noting that the likelihood for these products was previously less than 5%. Seyffart mentioned that the filings for XRP and Dogecoin ETFs are expected to be acknowledged within the week, reflecting the analysts' expectations of a more favorable regulatory environment.

The analysts took into account the SEC's evolving approach to crypto regulation, including the creation of a crypto task force led by Commissioner Hester Peirce in January. This task force is anticipated to clarify regulatory frameworks and address the categorization of digital assets as securities or commodities.

Lastly, Seyffart commented on the specific case of XRP, pointing out that the resolution of ongoing litigation between Ripple , the company associated with XRP, and the SEC is a necessary precursor to any potential XRP ETF approval. The SEC's efforts to resolve these legal issues are crucial to the future of XRP-related exchange-traded products.

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