Litecoin has the highest probability of securing approval for a spot ETF, among all altcoins, according to Bloomberg ETF analyst James Seyffart.

Seyffart shared this insight during a recent conversation on the Thinking Crypto podcast, assigning an impressive 90% chance to Litecoin’s approval.

Why Litecoin Leads the Pack

According to Seyffart, Litecoin stands out with an impressive 90% chance of getting approved.

The key factor is Litecoin’s strong position with the SEC, particularly with the Division of Trading and Markets and the Division of Corporate Finance. This factor makes Litecoin a frontrunner in the race for ETF approval among altcoins.

Other Altcoins with Strong Prospects

Seyffart also highlighted several other altcoins that show promise in securing ETF approval. Dogecoin has a relatively high chance of approval as well due to its clear status as a non-security.

HBAR, although not as certain as Litecoin or Dogecoin, is still considered to have a good chance, with movements being seen from the SEC’s Corporate Finance division.

What About More Controversial Altcoins?

Seyffart went on to mention Solana, XRP, Cardano, and Polkadot. Despite previous legal uncertainties surrounding some of these assets, Seyffart expressed confidence that the SEC would not classify these coins as securities and would likely permit them to be listed in a commodities ETF wrapper.

This suggests a potentially significant shift. These altcoins could soon be in line for approval should the SEC continue its evolving stance on crypto assets. Notably, the SEC has acknowledged the ETF filings of these altcoins.

During the previous SEC administration, the agency declined to acknowledge the altcoin ETF filings.

XRP’s Unique Hurdle

Meanwhile, XRP remains an outlier due to Ripple’s ongoing legal battle with the SEC. Seyffart noted that the direct lawsuit between Ripple and the SEC complicates the approval process for an XRP ETF.

Unlike other altcoins, XRP’s ETF approval is closely tied to the resolution of its legal issues, which have been ongoing for several years. Despite this, Seyffart remains optimistic that XRP will eventually secure an ETF approval once the lawsuit is settled.

The lawsuit between Ripple and the SEC is reportedly in its final stages, with both parties in discussion to reach a settlement.