Bloomberg analysts Erich Balchunas and James Seyffart indicate that the approval of several crypto exchange-traded funds (ETFs) by US regulators is now highly likely, with their odds being raised to '90% or higher.' This positive outlook follows favorable engagement from the SEC, which now seems to categorize cryptocurrencies like Litecoin, Solana, XRP, and Dogecoin as commodities, thus moving them beyond the SEC's immediate jurisdiction. Although the timeline for these approvals remains uncertain, analysts predict that the process could extend beyond October. Asset managers are keen to replicate the success of the spot Bitcoin ETFs, which have seen record inflows. However, the analysts caution that the demand for altcoin ETFs may not reach the levels of Bitcoin's ETFs in the near future. Investors are closely watching several ETF proposals that the SEC has opened for public comment, reflecting ongoing interest in expanding the crypto ETF market.

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