'Trump Effect' Expectations Soar... 'Bold Forecasts' for Altcoins

Altcoin ETFs Flooding In

As Donald Trump's second administration takes office, U.S. financial authorities are accelerating their crypto-friendly movements. Various altcoin spot ETFs, including Solana and XRP, are expected to be approved within this year.

The Securities and Exchange Commission (SEC) has recently begun reviewing Grayscale's application for a Solana spot ETF. 21Shares, Bitwise, VanEck, Canary Capital, and Franklin Templeton have also joined the competition to launch Solana spot ETFs. Related news is expected to continue.

Just a few weeks ago, the SEC under former Chairman Gary Gensler had demanded the withdrawal of Solana spot ETF applications. Therefore, the SEC's official review of Solana spot ETFs is interpreted as a direct result of leadership changes.

Eric Balchunas, Bloomberg's ETF analyst, noted on his X (formerly Twitter) that "It's noteworthy that the SEC has officially begun reviewing spot ETF applications for cryptocurrencies it previously considered securities." The final review deadline for Solana spot ETFs is early to mid-October, with Bloomberg estimating approval probability at over 70%.

XRP, which has received ETF applications from the most asset managers, is also considered likely to gain approval this year. According to Fox Business, formal review of XRP spot ETFs will begin soon. Bloomberg estimates the approval probability for XRP spot ETFs at 65%, similar to Solana. However, for XRP, the outcome of the ongoing legal battle between Ripple Labs and the SEC needs to be monitored.

If Solana and XRP spot ETFs are approved, institutional investor inflow is expected to drive prices higher. VanEck projects Solana to reach $520 by year-end. For Ripple, many analysts predict a rise to between $5 and $15, depending on the resolution of legal proceedings.

Suhyun Lee, BloomingBit Reporter shlee@bloomingbit.io