Analysts Forecast High Approval Odds for Litecoin and Dogecoin ETFs Amid Regulatory Shift
Analyst James Seyffart has raised the odds of a Litecoin (LTC) exchange-traded fund (ETF) receiving approval to over 90%, with Dogecoin (DOGE) following closely behind at 75%. Seyffart shared these predictions in an X post on Monday, noting the changing regulatory landscape that has increased optimism for crypto ETFs.
Seyffart, who accurately predicted the approval of Bitcoin (BTC) ETFs in 2024, emphasized that filings for several prominent tokens are now expected to gain more traction. Despite previous low interest from the U.S. Securities and Exchange Commission (SEC), there has been renewed momentum in the crypto space as regulators have started to show more willingness to move forward with approvals under the Biden administration.
In the past 24 hours, Litecoin gained 15%, surpassing Bitcoin’s 2% increase, while Dogecoin saw a 6% rise.
The regulatory shift has bolstered approval prospects for various crypto ETFs, and Seyffart anticipates that filings for Litecoin, Solana, XRP, and Dogecoin could be acknowledged soon. He also highlighted that had the previous administration been in power, the approval chances for many of these ETFs would have been much lower.
“The odds for tokens like Litecoin and Dogecoin have significantly improved with the current regulatory changes,” Seyffart explained. “The upcoming filings for XRP and Dogecoin could have big implications.”
Litecoin ETFs could see inflows potentially as high as $580 million if they attract the same level of investment as Bitcoin ETFs, according to previous estimates. However, XRP ETFs remain less likely to gain approval, with chances under 70%, mainly due to lingering legal issues surrounding Ripple Labs’ case with the SEC.
This positive regulatory shift could lead to a stronger wave of crypto ETFs entering the market, with Litecoin and Dogecoin potentially leading the way.
